AMC Apes

[Honu]

just curious if any are here :) (AMC Stock)

[MistWolf]

I've had a couple three AMC Cherokees over the years- two full sized, one compact. AMC engine are heavy, but very durable.

[Honu]

I've had a couple three AMC Cherokees over the years- two full sized, one compact. AMC engine are heavy, but very durable.
sorry about the confusion :) put that in the post :) meant the stock AMC :)

[JediGuy]

Well...

I had grabbed three meme stocks earlier in the year just to do it. Of course AMC is the one I sold when I wanted to buy something more substantial.

[Bluto]

I'm not an "ape", but I am an opportunist...

A similar question popped up here a few months ago about GME and I typed out a long reply. Hopefully it was useful to some of you.

A little background... I have been a day trader for over a decade, before it was "cool". Over the last year I have divested myself from my main business and this is now my main source of income. I'm not an advisor or anything, so this is just personal opinion...

The AMC "squeeze" is a real thing and will make a lot of people some serious money. I for one made a life-altering amount on GME right at the time of the last post. I now stand to make a reality-changing amount on AMC. Let me explain...

Short squeezes are nothing new. They are part and parcel of the trading game. Pretty much every stock has a short ratio. You can check out the ratios with a google search. Ortex is good if you have a subscription. Fintel.io and marketbear are also good free resources.

AMC has a lot of short shares and there are a lot of documented shenanigans going on with it right now. Bottom line is that this is poised for tremendous gains IF you can stomach the volatility and IF you can time your exit right. Scalping this stock is NOT a good idea. IF you buy, prepare to hold through a literal sh!t storm for a few weeks at least. I normally have a solid exit strategy, but this one is so unpredictable I literally have it open in front of me wherever I am at all times along with all my scanners, news, etc. just poised to make a move. It is very tiring.

Why AMC and not any other shorted stock? If you check out a couple of other highly shorted stocks you can see that on paper they are much more appealing. Check out CCIV (lucid motors) and ATNF. Both have higher short interest than AMC but as they are not being targeted in a concerted effort. Thereofre the trading volume is anemic compared to AMC so the short holders are in no rush to close their positions. I mention this because the hype and the apes are what is causing the roller coaster in the stock's price. This will eventually lead to ludicrous price increases.

Will it be the $10k/share they are floating around? Maaaaaybe, but only for a very, very few shares and only if NO ONE sells. Realistically I don’t think 200-500 is too far out there for the ones that hold out until just before the end. I mention “just before the end” because let’s say it gets to $10k and the shorts have already covered there is no way you will sell those shares for anywhere near that amount.

This happened before with VW in 2008. I don't think it will happen as dramatically is it did back then becasue in that case the huge majority of available shares were held by 4 or 5 institutions that likely (illegally) coordinated to not sell until they met their price.

While I have no love for the hedge funds that manipulate stock prices, I really don't care enough about them to join a "movement". I'm in it for the money, nothing else. All this being said, if you want in, it's not too late. Yes, it is risky, but I believe the upside is high enough to justify the risk.

As always, this is just my opinion, not any kind of advice, financial or otherwise.

[Honu]

Bluto thanks :)

I am kinda into the movement and the money :) money being higher priority :)
not huge into it but enough to be happy

the 50k 100k or 500k floor I agree not going to happen nice dream :)
could see it go over the VW of 1000 though IF the synthetics and naked shorts are as much as some say ? maybe more but when folks see double digit millions of real money they are going to hit sell ! even if its 2 million they will hit sell ! IMHO anyway :)

exit strategy is going to be a constant movement for most who are playing smart not this X amount thing not going to work on this one way to many dynamics going on

funny you say bout the screen up I have to bring our car in on Tue and going to have my phone and ipad with me watching :)
I do think even if the squeeze hits we have a few days but will be a roller coaster ride for sure

[MistWolf]

sorry about the confusion :) put that in the post :) meant the stock AMC :)

Even stock, an AMC 401 V8 is nothing to sneeze at.

[Honu]

Even stock, an AMC 401 V8 is nothing to sneeze at.

had to google that :) being 57 my HS days were full of guys with V8 type cars :) I always had other euro cars :) but respect those that love the big V8 stuff

[The_War_Wagon]

This ISN"T a Roddy McDowall movie marathon thread on ch.731? :confused:

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