Current Events > So I sat on my AMC stocks overnight

(+) Yeah! (+)

Up another 20%! Holy shit!

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And here comes the tumble

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IdiotMachine posted...

And here comes the tumble

Buy the dip?

Options expiring ayy lmao

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Tyranthraxus posted...

Options expiring ayy lmao

Yours?

WingsOfGood posted...

Yours?

Mine expires in 2 weeks.

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God damn it! Congrats!

Anyways Tyranthraxus, my thought is AMC is not like GME in that, you cannot jusr blindly buy more ans expect it to keep going up and others won't do the same.
For GME ot works because short interest is over 100%. It is infinite money trick.
AMC isn't. At least not yet. It has a real price ceiling.

This is not financial advice.

I might buy the dip. I cashed out at $65 expecting a dio like this so I can buy back in lower.

Lol Trade Halt

Anyway I'm not worried my entire portfolio is red right now so for whatever reason the market is just in a bear mood today.

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Tyranthraxus posted...

Anyway I'm not worried my entire portfolio is red right now so for whatever reason the market is just in a bear mood today.

Ye $50 is still really high from $10

WingsOfGood posted...

Anyways Tyranthraxus, my thought is AMC is not like GME in that, you cannot jusr blindly buy more ans expect it to keep going up and others won't do the same.
For GME ot works because short interest is over 100%. It is infinite money trick.
AMC isn't. At least not yet. It has a real price ceiling.

This is not financial advice.

I might buy the dip. I cashed out at $65 expecting a dio like this so I can buy back in lower.

Holy shit did I just have a brain annyurism

$43 lol

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WingsOfGood posted...

Buy the dip?

always buy the dip

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I abandoned ship at $50. All out of shares now.

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__aCEr__ posted...

I abandoned ship at $50. All out of shares now.

Samesies.

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littlebro07 posted...

always buy the dip

Dip not done, don't buy till latet today is my caution.

Not financial advice.

Hmm $42 might be the floor

Literally the entire market looks like this.



Massive drops then recoveries for literally everything (guess which one is AMC lmao)

I swear something fucky is happening. This can't be organic.

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Tyranthraxus posted...

Literally the entire market looks like this.



Massive drops then recoveries for literally everything (guess which one is AMC lmao)

I swear something fucky is happening. This can't be organic.

AMC themselves said they selling 11 million shares kinda caused this for AMC at least.

Tyranthraxus posted...

I swear something fucky is happening. This can't be organic.

there are times where the entire market moves as one entity for no discernable reason

it makes no sense

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WingsOfGood posted...

AMC themselves said they selling 11 million shares kinda caused this for AMC at least.

I do like how AMC is taking full advantage of this situation and sold stock to raise $$$, whereas Gamestop is just doing nothing.

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IdiotMachine posted...

I do like how AMC is taking full advantage of this situation and sold stock to raise $$$, whereas Gamestop is just doing nothing.

they have none to sell

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Going up again.

Dip over?

Those $42 shares looking sexy now.

Sackgurl posted...

they have none to sell

Is this true?
Who owns all the gamestop then?

Those 11 million shares were sold on April

Sackgurl posted...

they have none to sell

lolwat

Even if true, they can just create new shares.

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Trumpo posted...

Those 11 million shares were sold on April

I tagged you in article thread.

IdiotMachine posted...

lolwat

Even if true, they can just create new shares.

I believe shareholders voted against this so no, they cannot.

I'm the big dumb dumb that had to sell my shares that I got at $7

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WingsOfGood posted...

Is this true?
Who owns all the gamestop then?

Well it used to be Fidelity & Ryan Cohen / Chewy but they both closed out it looks like.

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RchHomieQuanChi posted...

I'm the big dumb dumb that had to sell my shares that I got at $7

Meh, you can't think that way. When you sold it, did you make a profit? That's all you should care about.

I bought AMC when it was around $6ish, and sold it when it went to around $15ish. I think at that time, it peaked to around $20, but I was happy with my profits. No one could have known that it would hit $70ish.

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IdiotMachine posted...

Meh, you can't think that way. When you sold it, did you make a profit? That's all you should care about.

I bought AMC when it was around $6ish, and sold it when it went to around $15ish. I think at that time, it peaked to around $20, but I was happy with my profits. No one could have known that it would hit $70ish.

Yeah I did make a profit on it at least.

I wonder if this is it though or if it's worth buying in again

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WingsOfGood posted...

Is this true?
Who owns all the gamestop then?

it's a publicly owned stock. the largest owners generally sit on the board, but for stocks like this one most shareholders don't vote.

to sell shares without passing a shareholder vote to dilute existing shares--which is generally extremely unpopular--you have to have treasury stock, ie stocks you bought back from the general public using your positive cash flow during a fiscal year.

GME hasn't had positive cash flow in many years, so they've sold rather than bought treasury stock.

good on you for doing the research and not letting the view from mount stupid guide the conversation as quoted below.

IdiotMachine posted...

Even if true, they can just create new shares.

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RchHomieQuanChi posted...

Yeah I did make a profit on it at least.

I wonder if this is it though or if it's worth buying in again

Likely isn't done but how further it can fall and where it goes from there is the question in my mind.

RchHomieQuanChi posted...

I wonder if this is it though or if it's worth buying in again

I am no expert, but from what I can see the short interest hasn't gone anywhere, meaning if one of the reasons you bought in was because of the short-selling, that's not been covered.

I have ~400 shares at like $8 apiece so I'm gonna ride the lightning for a bit here. It was more fun when it was at $70 but it's house money at this point. I can't decide if I would be willing to buy back in at $50 where it is now, but that's probably the price you have to pay to play if you want a shot at it going nuclear like Gamestonk did.

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WingsOfGood posted...

Likely isn't done but how further it can fall and where it goes from there is the question in my mind.

GME ultimately settled on a pretty high price. The same thing will eventually happen to AMC. If I had more money I probably would have sold at 70 and bought back in at 50 but the taxes are gonna kill me and for not that much profit.

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Blackstar110 posted...

I am no expert, but from what I can see the short interest hasn't gone anywhere, meaning if one of the reasons you bought in was because of the short-selling, that's not been covered.

I have ~400 shares at like $8 apiece so I'm gonna ride the lightning for a bit here. It was more fun when it was at $70 but it's house money at this point. I can't decide if I would be willing to buy back in at $50 where it is now, but that's probably the price you have to pay to play if you want a shot at it going nuclear like Gamestonk did.

I really don't think short interest effects AMC much tbh.

Blackstar110 posted...

I am no expert, but from what I can see the short interest hasn't gone anywhere, meaning if one of the reasons you bought in was because of the short-selling, that's not been covered.

I have ~400 shares at like $8 apiece so I'm gonna ride the lightning for a bit here. It was more fun when it was at $70 but it's house money at this point. I can't decide if I would be willing to buy back in at $50 where it is now, but that's probably the price you have to pay to play if you want a shot at it going nuclear like Gamestonk did.

so what, explicitly, via links to publicly available data, have you seen?


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WingsOfGood posted...

I really don't think short interest effects AMC much tbh.

I agree with you- short interest is 5% of total volume.

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