$AMC Apes don spacesuits for rocket launch as borrow rate hits record 856%
(media.greatawakening.win)
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Enjoy the show! https://iborrowdesk.com/report/AMC [this is just one data point]
Settlement over issuance of more shares is probably contributing as well: Jun. 30, 2023 12:04 PM ET; "AMC's APE conversion settlement hearing moves to endgame, with decision more than a week away (updated)": https://seekingalpha.com/news/3984505-amcs-ape-conversion-settlement-hearing-moves-to-endgame-with-decision-more-than-a-week-away
For "popcorn stonk", also known as movie chain $AMC, the ape shareholders don the spacesuits because their "rocket launch to the moon" is a massive short squeeze on Short Hedge Funds where the stock price goes straight up to unbelievable level (when SHF manipulation can no longer suppress it).
"Borrow rate" is the cost to borrow shares and usually reflects scarcity of shares. Scarcity of shares means:
Short Hedge Funds are unable to find additional shares to short to continue to suppress the price,
The existing shares that they have already borrowed to short are becoming very expensive, indeed, to continue to hold without covering short positions
When borrowable shares become nonexistent, the price goes up to reflect that, and indicates a potential short squeeze may be coming soon
Why are shares scare? Because a bunch of smooth-brained retards (apes) keep buying up all available REAL shares in an attempt to squeeze the Short Hedge Funds (SHF) that have been trying to short $AMC into oblivion through illegal naked short operations. Then they move the $AMC shares to ComputerShare via Direct Registration of Shares (DRS), and move them to "Book" where the SHF cannot borrow or touch (i.e. "locked float" controlled by apes).
The very same DRS process is being used on $GME and $DWAC to lock their float as well. Relevant links:
$DWAC: "DWAC ICYMI settlement reached": https://greatawakening.win/p/16bihrmuDx/dwac-icymi-settlement-reached--/c/
$GME: DRS process: https://www.drsgme.org/
So $amc apes embraced DRS?
Didn’t the ceo dilute shares or something?
The AMC CEO seems to do a lot of nutty shit. It's why I didn't continue riding that rocket..
What went down with Mainstar recently was fascinating. Lot of apes used Mainstar to DRS their retirement shares and Mainstar turncoated on them and put all the shares back into DTCC!
https://www.reddit.com/r/Superstonk/comments/14sr8nu/why_the_mainstar_fiasco_is_extremely_bullish_we/
u/MemTODeath2021 is there a similar DRS initiative among the AMC apes? I notice they use computershare as well and I DRS'd a handful of both AMC and BBBY just to see have as reference points to my DRS'd GME.
The AST/Equiniti (transfer agent for BBBY) has been down for at least a week. Might as well not exist. Pretty nuts!
https://equiniti.com/us/ast-access/individuals/
Been watching the mainstar thing along with the “oh shit I said hit” video.
It looks like alternative to Mainstar is to setup one's own LLC to hold the IRA assets. This is shown here: https://www.drsgme.org/direct-register-shares-via-transfer-to-llc
Lot of work, but don't let it discourage you. Me personally, I dislike how complex it has to be so I might just go ahead and do an In-kind trasnfer from my IRA to fidelity cash account and then DRS. Take the early distribution penalty and say fuck it.
Unclear exactly what is happening. The $APE shares (preferred) are supposed to be convertible into $AMC shares from what I understand. Maybe an $AMC ape can share some knowledge here to enlighten everyone.