AMC

[tsptalk]

Can't stop it.

I actually bought some at 12.52 in May and sold about a week later at 19.12. I was very happy with that but right after that... boom!

 

[rangerray]

Well, that’s a bummer.


Sent from my iPhone using TSP Talk Forums

 

[Bullitt]

AMC sells $230M shares to Mudrick Capital to raise money. Who knows what price they got those shares at, but then they turned around and unloaded them the same day.

Insider selling has been through the roof, including a most recent $411,000 sale by an officer on May 28.

 

[tsptalk]

OK, then.

 

[tsptalk]

The entertainment continues. AMC is down 30% right now.

 

[Bullitt]

11.55M share offering with sales to be in bits and pieces. They don't seem to confident in their future as stated in their SEC statement:

Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001411579/000110465921076091/tm2118373d2_8k.htm

 

[Rod]

In early March, I began day/swing trading AMC. If you look at the chart, you will see that it basically trended between 8 - 15 until it finally broke out. That was easy money. I continue to day/swing trade AMC. As most of you know, I transferred my military TSP to a Traditional IRA in order to day/swing trade it along with my other accounts. As of now, my day/swing trading success rate is 94.29%.

Because the short interest in AMC remains @ 17.46%, and the shares on loan are 138.55M, I just might have to initiate a long position today. We shall see!

God Bless :smile:

 

[rangerray]

In early March, I began day/swing trading AMC. If you look at the chart, you will see that it basically trended between 8 - 15 until it finally broke out. That was easy money. I continue to day/swing trade AMC. As most of you know, I transferred my military TSP to a Traditional IRA in order to day/swing trade it along with my other accounts. As of now, my day/swing trading success rate is 94.29%.

Because the short interest in AMC remains @ 17.46%, and the shares on loan are 138.55M, I just might have to initiate a long position today. We shall see!

God Bless :smile:

Where did you transfer your money to? What outfit? E-trade?

 

[Rod]

Where did you transfer your money to? What outfit? E-trade?

TD Ameritrade. I really like their Thinkorswim (TOS) platform. BTW... now awaiting that breakout above 56...

 

[Bullitt]

It is a bit worrisome that market leaders have been weak while speculative stocks (NKLA, AMC, BBBY, RIDE) have taken the front page.

 

[tsptalk]

Off AMC for a minute but addressing your point...

The rallies in some of the bull market tech leaders on Friday did nothing to help their troubling charts. I posted this in Friday's commentary...

 

[Bullitt]

Another $1.4M sold by insiders yesterday. Any guesses as to who they sold to?

Commenting about the share count, AMC President and CEO Adam Aron said, “The number of investors who want to own a part of AMC continues to increase and now stands at approximately 4.1 million. More than 80% of AMC shares are held by a broad base of retail investors with an average holding of around 120 shares.

https://investor.amctheatres.com/ne...Inc.-Announces-Shareholder-Count/default.aspx

 

[tsptalk]

Is this short squeeze done, or just looking to fill the gap near 35?

 

[Bullitt]

Surely it's not a problem when the CFO decides to sell 100% of his stock - right? :blink:

https://www.sec.gov/Archives/edgar/data/1411579/000141157921000080/xslF345X03/primary_doc.xml

 

[tsptalk]

:laugh:

Wow!

 

[waltj]

Unless my math is way off, that looks to be something less than 2% of his total (note #3)

 

[Bullitt]

(note #3)

He holds zero direct shares at this point.

Does not include Shares issuable upon future vesting of equity grants, including 296,327 Shares issuable based upon continued service and 293,222 Shares issuable upon attainment of performance goals at target, which, when combined with the ownership reported above, would represent a total of 589,549 Shares.

For those of us who weren't dealt such a deck of cards, it's kind of like saying, "your net worth does not include your future social security payments and future FERS pension".

When I checked, I noticed the CEO unloaded $9M worth of shares around the same date.

https://www.sec.gov/Archives/edgar/data/1494730/000089924321047608/xslF345X03/doc4.xml

Message board bulls are saying this is just an automatic sell and could be for tax purposes. Yes, it was automatic, but it needs to be planned ahead of time. Trading windows are small, with maybe only around 60 days a year an insider can sell, so these transactions are planned well in advance to take out any conflicts. (Think Enron insider transactions in 1999-2001).

 

[tsptalk]

AMC shares tank more than 30% as Regal Cinemas owner warns of potential bankruptcy


https://www.cnbc.com/2022/08/22/amc...emas-owner-warns-of-potential-bankruptcy.html

 

[Epic]

Just ran across this from 2 days ago ..... :blink:

https://www.forbes.com/sites/mattno...n-buying-amc-theaters-report/?sh=68b577f24ec6

Amazon Might Be Interested In Buying AMC Theaters: Report

Amazon might have an interest in buying AMC Theaters according to a new report from The Intersect, a Substack blog run by Hollywood reporter Joe Bel Bruno, who’s previously worked for the Associated Press and the Wall Street Journal.

“Amazon founder Jeff Bezos has dispatched his investment advisors and top entertainment chiefs to explore acquisition plans for embattled theater chain AMC Entertainment, according to multiple senior sources familiar with the discussions,” according to The Intersect.
When reached for comment Tuesday afternoon, Amazon spokesperson Griffin Buch replied over email that, “Amazon doesn’t comment on rumors or speculation.”