AMC dropped 30% yesterday..... AFTER the market closed. HIGHLY UNUSUAL.
(media.greatawakening.win)
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Why the sudden drop after market hours when only institutional market makers and hedge funds can buy / sell? Regular traders do NOT typically have access to after hours trading on lit markets, only institutional market makers and hedge funds do and they like to affix their oxygen masks first when the plane is going down. You don't have that level of movement on a stock ticker from retail action after hours. This is either a very large single institution dumping shares or coordinated group of institutional dumps IMO.
Likely this event: the settlement got approved by Judge and it came out after hours. That means that Conversion and RS for them is moving forward. Which is good for shorts, AA and AMC, bad for retail investors.
Popcorn / stickyfloor people are delusional. They remind me of people that got vaccinated that can't admit they were duped. It's easier to fool people than it is to convince them they were fooled.
Popcorn was always a distraction. Yeah it was naked shorted (like MANY stocks since the market WAS supposed to collapse during covid but Trump pushed that back) but it has no turnaround plan. It has no DRS action. AMC was pushed over Gamestop by a number of MSM outlets and mouthpieces. The next round of attacks will likely be something along the lines of "AMC and other meme stocks are crashing! Sell you GameStop now before it crashes too!!!"
Just look at the actions of the AMC executives. Are they buying stock? No. When the stock price went up they just gave themselves raises and bonuses AND they dumped stock. They showed their colors. Actions speak louder than the words of shills and suckers. Meanwhile GameStop insiders are buying as much stock as they can.
Also movie theaters are a dying business. They have no plans to transition into anything else. Theater ticket sales peaked in 2002 and have fallen off since then. US theaters sold only 17 percent of the available seats in the United States, according to EntTelligence, a research firm.
I have theater quality screen and sound at home. Why would I go spend a bunch of money to go somewhere to have a worse experience? VR headsets will give me an IMAX experience soon. I can make popcorn and nachos at home or order a pizza for FAR less than eating at a theater.
Sound of freedom is the ONLY movie I've gone to see in theater in quite some time and that was to support it with my wallet. Other than that I've been going to comedy shows, concerts, art galleries and other live events instead.
GameStop on the other hand is creating a multi-billion dollar digital marketplace that will completely revolutionize digital ownership. It's like Steve Jobs coming out in this stupid turtleneck with the iPod and revolutionizing the music industry practically overnight.
GameStop = Game Over
AMC = All My Cash (is gone)
Ty. I stand on the shoulders of much smarter men before me and they get all the credit.
Someone (you) has the ability to use critical thinking skills. All I need to know what is a threat to the system: "Those they attack the most".
They don't attack AMC, they focus their efforts and attack GameStop. Documentaries and hit pieces non stop. Ring a bell? Who/what else is attacked non stop? Trump. It's the easiest litmus test you can use to win while taking down the cabal.
Exactly.
Fren didn't you just do this yesterday? It's an interesting event, and worthy of a post IMO, but there's no need to add untrue drama to it.
https://greatawakening.win/p/16c248u0lH/amc-dumping-hard-after-hours-it-/
After hours trading isn't too hard to get. A lot of brokers offer it. AMC CEO holds 1.7 million shares. The move is due to the handling of APE shares which I'm not sure why you don't mention when you were informed of it in your earlier thread. Prices swings on that kind of corporate action are not unusual.
a 30% decline after hours isn't unusual? gtfo shill
I know right? Amc is down like 95% from its high 2 years ago..
"Prices swings on that kind of corporate action are not unusual."
So you're arguing the normal price swing for a major corporate action is what? Low single digits?
It also bumped 23% last February when the conversion plan got delayed.
https://www.investorsobserver.com/news/qm-news/8518810385038173
Allow this "shill" to point out some factors driving the price action here, and you can dispute them with logic and facts or resort to more name calling:
After hours trading has few participants. That means low liquidity. Low liquidity yields larger price moves.
Corporate actions naturally drive large price moves because they fundamentally alter the value in big ways.
This corporate action is basically a merger of a split that was done just a year ago.
In the case of APE/AMC these swings are exacerbated because they're both heavily shorted and have many layers of derivatives being traded on them. They are thus stocks tremendously divorced from underlying business realiities.
So yeah, a double digit price swing is not at all out of play here and there's no need to become emotional & resort to ad-homs when someone points it out. Emotional reasoning really doesn't get a person anywhere in a Q forum.
Where can I read more about this?
Most of the deep dive chatter has died down but if you just lurk all the meme stock related forums they'll break it down when someone notices something new. And you can likely find some of the old deep dives perma-linked.
https://www.reddit.com/r/Superstonk/new/
https://www.reddit.com/r/ThePPShow/new/
Basically certain financial entities are permitted to create derivative products. Take for example an ETF. It's a product meant to easily allow you to buy and sell a set of other stocks. What happens though is there are delays in actually acquiring the underlying asset, and very little enforcement occurs when those failures occur.
Now once that phantom asset is created, all the other products can be piggy backed off it. So you can then take out an option on the phantom ETF. Or a swap on the option (swaption). Swaps are basically flimsy agreements and have all the same potential fail to delivery failure (i.e. they don't have to have the underlying to enter the contract). Then you have other insanity like single ETFs:
https://www.investopedia.com/single-stock-etf-5667162
The short of it is these products are built on assumption after assumption after assumption, but the whole meme trade is based on the idea that Wall Street is faking their books and they don't have the underlying shares to deliver on all the fancy ETFs/options/swaptions/swaps/futures/crypto they claim to have. The transparency is non-existent. The regulation is fake.
Thank you so much for so much detail, it was going to be hard for me to find that exact perfect explanation
A mod removed my post almost immediately. Even though it violated no rules. Very unusual in my experience here. However after a messaging the mods and receiving some feedback on reposting it I complied and did so once I had time.
Well it's kind of pointless to continue a discussion in a removed thread isn't it? If you'll notice I covered that in the comments here already immediately after posting. "Likely this event: the settlement got approved by Judge and it came out after hours. That means that Conversion and RS for them is moving forward. Which is good for shorts, AA and AMC, bad for retail investors."
Apes don’t like to hear facts lol
Thanks Anon for reposting this in a way that keeps the post objective and opinions / interpretations to comments.
As long as this standard is enforced consistently (including positive speculation in title / post) I have no problem with it. However I hope I see less of this policy moving forward. I like to read / hear speculation. I like to interact with it. I like hearing people's opinions. Some people are quite good at it. Some are not. I like to decide that for myself and I hope I'm not missing out on some great speculation I may agree with or ideas I could be aware of in posts that are removed for only that. The up/down vote is my friend.
Again, if you want to do speculation in the title, dont tie it with one element of the speculation - it gives the wrong idea and acts as counter productive because folks will focus on that one element.
Something like "Was popcorn always a distraction", which ties all your points with an explanation of what the settlement was, and how it ties to the drop would also have been perfectly productive as well, imho.
As mods, trying to weed out shill narratives is a huge part, and it sometimes takes effort to figure it out. We always err on the side of caution. Thanks again for understanding and co-operating.
Yeah no prob. I respect you guys and the work you do. I try to contribute and help people the best I can. From what I see this is going to hurt AMC investors and I want to let them know just like I was warning against the vax from the start.
Any recommendations of specific actions to be taken by any AMC holders?
No financial advice.
Just watch your ass if you're in AMC.
Right now I'm in GME and some crypto assets as well as LOTS of physical silver. , I just dumped $10k into BBBYQ this week after seeing AMPLE evidence of a carve out and acquisition being finalized. At $0.25 a share if that happens that's gonna pay for a new church building :-)
Interesting. Was considering an "anti-fiat trifecta" of sorts consisting of a precious metal (silver), a stock (GME, and recently BBBYQ. Was also looking at AMC, hence how I found myself here), and a crypto. Only problem being, I don't know which crypto to get into.
I havent been following AMC much, and not even sure where it fits with the Q/MOASS (excep for the "popcorn") but my spidey senses tells me to buy AMC, lol!
exactly!
News about the settlement thats relevant to this drop.
As a Market Anon, you should consider explaining the history of this lawsuit, and whats the objective implications of this to the shareholders.
Here's a breakdown of what happened:
(Bloomberg) -- AMC Entertainment Holdings Inc. won court approval of a stock conversion plan that had spurred a shareholder lawsuit and cast a cloud over the movie theater chain’s efforts to secure new financing.
The settlement, approved on Friday, includes extra shares for individual investors, thousands of whom had opposed it, citing the dilution of their shares among other concerns. Many of them fueled the pandemic-era “meme stock” rally that saved AMC from a bankruptcy filing.
The ruling by Delaware Chancery Court Judge Morgan Zurn caps a protracted and bitter legal fight over AMC’s preferred equity units, or APEs, which pitted the company’s top executives against part of that retail investor base. Last month Zurn surprised the market by rejecting an earlier version of the settlement, sending the value of AMC’s regular shares soaring and the APEs plunging. She found that the original deal waived too many potential claims against the company.
AMC shares sank as much as 34% in postmarket trading, while the preferred shares spiked more than 29%, narrowing the spread between the two to around $1.50.
Offsetting the Dilution
In a 110-page opinion, Zurn concluded that the settlement was reasonable, finding that while the plaintiffs’ claim of breach of fiduciary duty had merit, a remedy for that claim was “challenging to identify.” She noted that the revised pact included “additional shares of common stock awarded to current common stockholders to offset the dilutive effects.”
Zurn’s basic job was to decide whether the settlement was fair given the strength, or weakness, of the shareholders’ claims. She concluded that their main legal theory was relatively strong but not a sure thing, and that their risk of losing made the settlement a fair deal.
“Where a plaintiff establishes directors acted with the primary purpose of impeding the exercise of stockholder voting power,” the company’s board members “must demonstrate their actions were reasonable,” the judge wrote. She said AMC actually didn’t convince her of that, but that it “may have been able to prevail” if it had gone to trial.
The settlement has been valued at as much as $120 million, depending on AMC’s volatile stock price. It wasn’t immediately clear when the APE conversion would take place, but AMC officials have said they hope to raise new financing by the middle of this month. Zurn said approval of the deal clears the way for the company to act and that it has indicated it intends to do so “as quickly as possible.”
The case began when a pension fund and other shareholders challenged the plan to let APE holders — many of them arbitragers betting on the stock conversion — vote on AMC’s recapitalization proposals. Hedge fund Antara Capital LP holds roughly 30% of the APEs. More than 2,800 shareholders opposed giving the APE investors a vote.
In rejecting the earlier version of the settlement, Zurn cited sections that would have waived any claims by holders of the common stock, including those also holding APEs. The resubmitted settlement included a narrower release, waiving only claims “that relate to the ownership of common stock.”
Meme Players
The meme stock investors’ role has made the case unusual, especially as the focus of the legal proceedings has turned to the accord. In writing to the court to oppose the stock conversion plan, some expressed the dilution concerns, while others cited market manipulation theories that have spread online.
AMC created the APEs last year to get around a share limit it couldn’t lift without the support of retail investors. With the settlement it aimed to address their objections by handing out one extra class A share for every 7.5 held, a ratio that has put the pact’s value at around $110 million to $120 million.
In announcing the revised accord last month, AMC Chief Executive Officer Adam Aron stressed the “critical” importance of getting the deal approved and the APEs converted so the company can raise new equity capital.
The lead objector to the accord, a retail trader named Rose Izzo, has sought to derail it, take over the case and resume the court fight on behalf of others in her camp who feel “stabbed in the back” by AMC and its leaders, her lawyer has said.
Chancery and Barbie
Izzo had asked Zurn to put any stock conversion on hold to leave time for an appeal if the judge approved the settlement. Given the success of the blockbusters Barbie and Oppenheimer and AMC’s strong second-quarter financial results, the company’s “overhyped concerns and unreasonable demands ring hollow,” she said in a court filing.
AMC’s shares have been on a wild ride because some traders and hedge funds, as part of their arbitrage bets, have been adding to their APE positions and going short AMC shares. They’ve been betting they will be able to pocket the spread once the conversion goes through and narrows the price gap between the two. Zurn’s earlier ruling against the conversion proposal forced them to start unwinding that bet to limit their risk, boosting the shares.
Litigation continues on other fronts. AMC has sued its insurers for refusing to fund the settlement, and another holder of the common stock is seeking a court order requiring the company to hold its first annual meeting and board election in more than 13 months. Antara is facing a securities lawsuit in federal court seeking the return of its alleged short swing profits.
The case is AMC Entertainment Holdings Inc. Shareholder Litigation, 2023-2015, Delaware Chancery Court (Wilmington).
As far as what will happen, we'll see. Based off what I've watched since the runup it doesn't look good. AMC insiders have been selling like crazy. Never a good sign.
They WILL have a great Q3 from SoF, Oppenheimer, & Barbie but other than that movie ticked sales are still dropping like stones and have been since 2002.
They have no turnaround plan that makes any sense. Besides depending on Hollywood to make movies during a strike that will pack theaters in a radically changed landscape of home theaters all they could come up with is selling popcorn at walmart:
AMC popcorn became available at Walmart on March 11, 2023. You can buy AMC popcorn at select Walmart stores and online. AMC popcorn is available in microwave pouches and pre-popped and ready to eat. The microwave popcorn costs $4.98 for a 6-count, and the ready-to-eat popcorn bags cost $3.98.
So now people that love AMC popcorn can eat it..... at home.... for less.
Remember when A&W started selling their root beer in stores? That's when A&W franchises started dying off quickly due to less people coming in. It's now a example of what NOT to do in a good business school.
Anyways I'm not a popcorn stock guy. I think the model is outdated and the execs are backing their bags with investors cash on their way out. I know alot of people will be hurt by this which is sad. I'll be sad. AMC was one of my 1st jobs when I moved to a new area.
Or a big news story came out late in the day
AMC Stock Tumbles After ‘APE’ Conversion Approved by Court
Shares of AMC Entertainment were sinking in late trading Friday after Bloomberg reported the firm won approval to move ahead with a planned conversion of AMC Preferred Equity, or APE, units into common shares.
or read my comment.
Then why the surprise if you know a big news story broke
...or maybe don't bury the lede...
https://www.dictionary.com/e/slang/bury-the-lede/
And the ticker for APE shares is APE, AA is Alcoa.
u/#q4148
So "burying the lead" in your opinion is putting that in the second paragraph after something else I deemed more important, an explanation that this is not retail causing the drop but institutional selling?
That's some ADHD reasoning for you not reading the comment I provided right out of the gate.
Take responsibility for your lack of reading instead of blaming others.
Good day.
Sadly, this is an instance where traditional media did better than anons:
Your attempt:
Legacy media who didn't bury the lede:
You're intellectually dishonest.
I think I know why.....
How much AMC do you own exactly?
~1k in APE and AMC.
How do you figure I'm being dishonest? All of those legacy news sources managed to include the price action and cause of the price action in their lede, in a single sentence.
You took two threads to get to that point and buried it under a pile of misinformation, invective, and hyperbole.
Do you honestly not see the difference?
That explains the unreasonable defense and lack of objectivity. You have skin in the game, I don't. The view is different on the outside looking in.
You're making a straw-man about the price action in the title. I posted the reason CLEARY in the comment I made SECONDS after the post. It's the top damn comment and 1 short paragraph deep. My title was factual was it not? I expanded on it below did I not? Fuck you for telling me how I need to write MY post. You're not my editor.
Yet you gave zero examples. Just say you disagree and move on. You are being a shill at this point.
Let's continue this conversation Aug 25th. Until then you can to walmart and buy AMC popcorn for more than you would pay for a share of their company lol!
The dip before the rip??
Before the "RIP" for all the dips still holding.
Oh boy, and I have 3 whole stocks in AMC ...
The basket theory is real. While AMC management is terrible and I wouldn’t invest in it, it will rip during MOASS. Probably not as high or as long as the other basket stocks but there will be a chance to take a profit.
When it does rip I would suggest taking profits while you can vs the other stocks that you could hold forever for dividends and generational wealth.
Maybe GREED_IS_BAD?
Greed leaves you open to scams and cons.
Did you believe in the company (not the price) of AMC and it's leadership? Do you believe in Hollywood and support the content that they push through AMC? Did you invest in a good product and a good team or did you put your money where you thought you could make a quick buck off an industry run by pedos?
Some food for thought. Sorry for your losses tho.
Do you figure the video game industry doesn't have its share of pedos and bad actors? How many video games are based off movie properties? Have you recently looked at some of the video game content? A solid chunk of it is not far off from pornography.
Edit: neverminded. This guy is pissed he's losing money on AMC. He's following me around like a rabid puppy. I regret taking the time to respond.
The difference is one is a top down institutional / gatekeeper problem and the other is not.
There is also a vast difference between digital video game porn made without models and the type made using victims of human trafficking and pressured young people. No one gets human trafficked to be a graphic designer or programmer.
Let's address the big issue that normalizes and runs off filth 1st, Hollywood, then we can address sexual deviants.
Oh and I've never seen any porn in any game my family plays on the Switch. That's why I bought it.
You're throwing some heavy friendly fire my way fren. I have all your stuff in my portfolio too.
The AMC I hold is of no consequence and oddly enough has performed better than both BBBY and GME. Probably comparable to silver.
I'll agree to disagree. No insult meant on my part towards you. Just trying to elevate the quality of info being reported and discussed here.
Yeah.. greed.. meanwhile dumb deceptive lieing apes have been tricking people into some MOASS theory that has not materialized in the past 3 YEARS.. in fact it went down 90%! Crazy.
My 2 cents. A lot of the meme players (GME, AMC, APE etc.) were scams to rob patriots blind. They had the bot armies out in full blast playing with the minds to convince you that there was some NESARA MOASS bull shit coming. This was a ploy to convince you that it was part of some plan, when there was no proof that it was.
When all the media, reddit clowns were posting non-stop and sentiment of your 15 year old nephew was all aboard some meme stock 'plan' of how the whole financial system was going to collapse because some kid no one ever heard of posted some info about made up shares that were shorted to no end.... EVERYONE and their brothers was talking about it. RED FLAG pump & dump!
Trump's plan exists to drain the swamp. I am not sure if any patriot is going to be able to make a bazillion dollars in the swamp drain. If we were to make a bazillion dollars it would make the world hate us as some ponzi crypto scam job that we would be questioned like Hunter Biden taking money.
Greed is not for us. But in the end all our earthly possessions are not relatable to. God is our greatest possession and he will take care of us. Have faith in God. Not wallstreet.
If you want to bet on something - bet on DWAC. It is the only thing related to Trump. If you want to bet on America buy the ETF MAGA.
Sold post and thanks for all your insight and contributions....helped me 'connect the dots' ....
Wasnt AMC the theater that booked the most "sound of freedom" showings
Yes. Now go one step further....
AMC Theaters is the largest movie theater chain in the United States and Canada with 7,850 screens as of 2022. The second and third largest chains are Regal Entertainment Group with 6,851 screens and Cinemark USA, Inc. with 4,426 screens.
Of course the biggest chain of theaters would have the most showings of a top grossing film. More screes = more showings.
As I said in another comment, they will have a fantastic Q3 earnings. Doesn't matter. They will give bonuses to their execs and still go under.
Buy the dip! 🤣
🤦♂️😑
major sell off?
Seems pretty weird that you care when you have no money invested.
Use that same energy when you see a child getting molested. It's not your asshole right?
Dumb argument is dumb.
Good people care about other people. Try it sometime.
Super weird to default to children's assholes.
But this is different. If you knew so much, you'd be profiting on the reverse side.
But you link Bloomberg. And you write that afterhours drops are "highly unusual." I can tell you are clueless.
He was referring to your asshole, asshole.... Reading comprehension is fun.