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(Yahoo)   AMC insiders are selling their once worthless shares for millions thanks to the apes who keep shoveling their money into the stock   (finance.yahoo.com) divider line
    More: Ironic, Corporate governance, Stock, AMC Entertainment Holdings Inc., board members, Board of directors, Directors Howard Koch Jr., Executive officer, Chief executive officer  
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382 clicks; posted to Business » on 10 Jun 2021 at 4:03 PM (11 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



22 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-06-10 3:30:02 PM  
If AMC drops down to $1 then I'll buy.
 
2021-06-10 4:18:42 PM  
4 million is shares is a tiny drop in the bucket at this point. I got nothing to loose so I will hold.
 
2021-06-10 4:22:44 PM  
This is the problem with the concept of Meme stocks, it's essentially just another way to transfer wealth from the poor to the 1%.

Sure they might find it funny to give a few billionaires a temporary loss which they will claim on their taxes and use to offset gains for years but there are plenty of other millionaires cashing in.
 
2021-06-10 4:37:11 PM  
That 4million in shares was worth less than  1million k a few weeks ago.. I don't understand what the story is here..
 
2021-06-10 4:48:04 PM  
At least GameStop had a semi-plausible (if you squinted) bull case behind it, beyond the short squeeze angle.
 
2021-06-10 4:50:09 PM  
so same amount it cost to buy 3 large popcorn and 3 coke at their theaters then.
 
2021-06-10 4:50:27 PM  
How else are you supposed to double up in the dip, and still have money for a week-long Vegas party?
 
2021-06-10 5:11:08 PM  
Got in at $8, dumped at $38, made about a weeks pay.  Left satisfied.  I would've had an aneurism dealing with that volatility if I had put up anything substantial.
 
2021-06-10 5:33:29 PM  

neaorin: At least GameStop had a semi-plausible (if you squinted) bull case behind it, beyond the short squeeze angle.


You mean it wasn't a pump and dump scheme?
 
2021-06-10 5:39:09 PM  

dylanthomas: Got in at $8, dumped at $38, made about a weeks pay.  Left satisfied.  I would've had an aneurism dealing with that volatility if I had put up anything substantial.


You smell fantastic good sir......try the brie!
 
2021-06-10 5:40:13 PM  
AMC will rise like GME....

retail investors and making money and wallstreet will make more money!!  LOL
 
2021-06-10 5:40:34 PM  
and -> are
 
2021-06-10 6:02:20 PM  
Nice to see they keep spinning the roulette wheel for the gamblers.
 
2021-06-10 9:30:16 PM  

keldaria: This is the problem with the concept of Meme stocks, it's essentially just another way to transfer wealth from the poor to the 1%.

Sure they might find it funny to give a few billionaires a temporary loss which they will claim on their taxes and use to offset gains for years but there are plenty of other millionaires cashing in.


I guess the difference here is they're WILLINGLY doing it.  Essentially riskily putting all their money in the game at the chance to become rich.

But guess what, people who get rich in the stock market tend to be very smart (unless they just got very lucky, which happens).  The idiots think they're 'winning' like Charlie Sheen, when in actuality, they just aren't.  Sure a few lucky bastards probably made a killing, everyone else suffers.  Which is no different than normal.

/Treating the stock market like a casino instead of a long-term investment vehicle is moronic.
 
2021-06-10 10:50:47 PM  
Just keep the company alive long enough to tie up the Walking Dead story lines. After that, I don't care what happens to them.
 
2021-06-11 6:07:52 AM  

DHT3: neaorin: At least GameStop had a semi-plausible (if you squinted) bull case behind it, beyond the short squeeze angle.

You mean it wasn't a pump and dump scheme?


Oh it totally is. The thing is the internet has made it so that as many people who are dumping are being replaced by new blood buying so it takes faaaaar longer for it to fall apart
 
2021-06-11 9:40:21 AM  
At that level you don't get out when you WANT to get out, you get out when the market LETS you get out.  If you tried to sell that many shares without this demand and you would likely tank the stock.

Unless AMC is able to use that cash to buy up a lot of competitors for really cheap AND ticket sales go crazy for the next couple of years then the stock is likely overvalued based on any fundamental analysis.  Reducing some of their risk at this point is a smart move for those insiders.
 
2021-06-11 9:55:24 AM  

keldaria: This is the problem with the concept of Meme stocks, it's essentially just another way to transfer wealth from the poor to the 1%.

Sure they might find it funny to give a few billionaires a temporary loss which they will claim on their taxes and use to offset gains for years but there are plenty of other millionaires cashing in.


It's actually worse than that.

The people who were running the company, who were paid with stock as an incentive to do a good job, are being rewarded for doing nothing. And if you bought AMC when it was $40+, you're really a sucker. You helped make these executives rich, and if you're still holding the stock. now, you'll probably lose money (I see that AMC is tumbling towards the $30s - I guess the apes have lost confidence).
 
2021-06-11 10:12:55 AM  

thornhill: keldaria: This is the problem with the concept of Meme stocks, it's essentially just another way to transfer wealth from the poor to the 1%.

Sure they might find it funny to give a few billionaires a temporary loss which they will claim on their taxes and use to offset gains for years but there are plenty of other millionaires cashing in.

It's actually worse than that.

The people who were running the company, who were paid with stock as an incentive to do a good job, are being rewarded for doing nothing. And if you bought AMC when it was $40+, you're really a sucker. You helped make these executives rich, and if you're still holding the stock. now, you'll probably lose money (I see that AMC is tumbling towards the $30s - I guess the apes have lost confidence).


Well.. At least they got free popcorn out of it...
 
2021-06-11 11:48:59 AM  

thornhill: keldaria: This is the problem with the concept of Meme stocks, it's essentially just another way to transfer wealth from the poor to the 1%.

Sure they might find it funny to give a few billionaires a temporary loss which they will claim on their taxes and use to offset gains for years but there are plenty of other millionaires cashing in.

It's actually worse than that.

The people who were running the company, who were paid with stock as an incentive to do a good job, are being rewarded for doing nothing. And if you bought AMC when it was $40+, you're really a sucker. You helped make these executives rich, and if you're still holding the stock. now, you'll probably lose money (I see that AMC is tumbling towards the $30s - I guess the apes have lost confidence).


Well the market is weird. There was nothing really wrong with their physical assets, it was just an extreme outside even that made it impossible for them to operate for over a year. By rights their price should never have fallen as much as it did, but because the market ignores physical assets now and only focuses on future potential that we have what we have now
 
2021-06-11 12:11:06 PM  

lifeslammer: thornhill: keldaria: This is the problem with the concept of Meme stocks, it's essentially just another way to transfer wealth from the poor to the 1%.

Sure they might find it funny to give a few billionaires a temporary loss which they will claim on their taxes and use to offset gains for years but there are plenty of other millionaires cashing in.

It's actually worse than that.

The people who were running the company, who were paid with stock as an incentive to do a good job, are being rewarded for doing nothing. And if you bought AMC when it was $40+, you're really a sucker. You helped make these executives rich, and if you're still holding the stock. now, you'll probably lose money (I see that AMC is tumbling towards the $30s - I guess the apes have lost confidence).

Well the market is weird. There was nothing really wrong with their physical assets, it was just an extreme outside even that made it impossible for them to operate for over a year. By rights their price should never have fallen as much as it did, but because the market ignores physical assets now and only focuses on future potential that we have what we have now


Maybe $2 a share was too low, but the market wasn't undervaluing AMC.

They have like $6 billion in debt and next to no cash flow. Before the frenzy, it was looking like they'd run out of cash before the end of 2021.

The frenzy has allowed them to bring the debt doubt to $6 billion and increase their cash on hand, but they still have a major cash flow problem. The first tent-pole movie, Black Widow, doesn't come out until July (more than halfway into the year), and studios are holding back most of their blockbusters until November.

Finally, ticket sales have been declining since 2005 and dropped to what they were in 1995. It's not a growth industry, and studios increasingly care more about the number of subscribers on their streaming platforms than ticket sales, which leaves the movie theaters in the lurch.

Maybe AMC has a good year or two because of pent up demand, but the long term prospects are bleak.
 
2021-06-12 3:40:18 AM  
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