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Stock Thread (9 Viewers)

JB Breakfast Club said:
Did Mudrick really dump the stock at $33 and call it massively overpriced? Why would they want to taunt the apes like that? 
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They would have made about $51million on that trade. To hell with the apes, that’s a good bit of business.

 
JB Breakfast Club said:
Right, but why sell all the shares at once instead of slow and steady during the run up and then follow it up with a scathing press release? Seems like dirty pool.

 https://seekingalpha.com/news/3701864-mudrick-capital-quickly-jettisons-amc-stake-calling-shares-massively-overvalued 
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AMC needs money, simple as that. If they don’t continue to dilute they’d run out of cash in a year. I don’t buy that expansion talk. They have interest expense of $165M per month IIRC. Mudrick basically saw a way to make quick cash on the pre-market and dumped it immediately and took advantage of AMC needing money. Based on @McBokonon’s post they made 20%+ on their money in what an hour or two? It’s also not dirty pool to say the truth. It sure hasn’t affected the stock price. I already know who the bag holders will be. It’s not Mudrick. They took the shares knowing they’d flip them immediately. Easy money for them and what else can they say flipping the stock they got same day? Oh, we really believe in this stock long term even though we’ve sold every share we have. I can tell you that there isn’t a single institution out there that would buy 8.5M shares at $27+ right now as a long term buy. It’s why they company that took AMC public has divested all shares during this run up.

 
McBokonon said:
They would have made about $51million on that trade. To hell with the apes, that’s a good bit of business.
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Yep, plenty of evil guys who are making a killing helping these distressed companies by giving them convertible and retail investors are handing over money at crazy prices so they are converting debt to shares and selling or in this case taking advantage of a 20% spread or vig if you will. That’s a crazy return that both AMC and Mudrick are taking advantage of here on the back of retail investors.

 
stbugs said:
Yep, plenty of evil guys who are making a killing helping these distressed companies by giving them convertible and retail investors are handing over money at crazy prices so they are converting debt to shares and selling or in this case taking advantage of a 20% spread or vig if you will. That’s a crazy return that both AMC and Mudrick are taking advantage of here on the back of retail investors.
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When did Mudrick sell exactly?  They may have killed the momentum when the shares reached $36 the other day.

 
Just didn't think they needed to rake the apes over the coals in the way out. Doesn't seem like a strong business plan considering what has happened with AMC and GME. 

full disclosure: I added a stop loss for my 4/21 AMC lot that locks in a triple up, but I don't think this run is over. 

 
Caveman33 said:
When did Mudrick sell exactly?  They may have killed the momentum when the shares reached $36 the other day.
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Today. I think they got the shares from AMC today and sold them same day. The press release that AMC was going to use the money for potential expansion (I think it’s likely more debt related) was this morning and then the press release that Mudrick’s sold was this afternoon. They did the deal with the provision that the shares were instantly sellable. Again, as much as the apes seem to think the CEO has their back, I sure don’t think he does. He’s leveraging the share price to dilute his way out of bankruptcy. Mudrick’s isn’t holding on to the hot potato when they can run away with 20% for literally nothing more than taking advantage of AMC being cash poor with loads of debt. Like a subprime broker (Mudrick’s) making a killing commission on giving the subprime lender (AMC) a loan while dumping it on a big bank (retail investors) that thinks they got a good loan that will be paid back.

 
After they diluted a couple times I sold AMC because I assumed they would do it again, which they did today.  So I got that part right.  Unfortunately I never imagined the price would get to the mid 30s.

I suck at stonks :lol:  

 
guru_007 said:
I really need to see the narrative as to why AMC stock is so high.  If there was every a stock to short, this has to be it.

AMC's market cap is over 2x what it has ever been.  In fact, pre-pandemic, the highest I ever saw it reach was just a touch over $4bill, just over a third what it is today.  

Theaters are already under severe pressure due to streaming.  And during the pandemic, studios have seen that they can do a dual release to stream and to theaters and make just as much money.  Why would this trend not continue?

I like going to the movies as much as any one else.  It's been probably about two years since I've been now.  What do i remember about theaters?

-trying to find a movie worth going out to see

-Spending 60-70 bucks for a family of four for a matinee

-Getting annoyed by people talking, but more so, people texting/playing on their phones during the movie

-Moderately enjoying the "theater" experience.

Will I still go to the movie theater?  Yeah, probably so, but how many times per year?  3-4?  Any movie that I'm just partially interested in seeing previously, I'd just wait till it came on streaming, like Fandango Now, etc..  I'm sure I'll do the same.  Any movie that I'm interested in seeing if it releases say both on Disney+ and at the theaters, say Black Widow which my family will want to see, but no one is dying to see it in the movies, I'll pay the 20-30 bucks to watch it at home at our leisure (we did the same with a number of Disney releases over the past year).  Where is the new revenue stream that AMC is going to find that is going to allow it to be worth 3-4x what it was worth at any time in their past?  AMZN just bought MGM, think they may release some movies directly to Prime?  Apple has Apple TV and a boat load of money, think they may want to buy a studio and do the same?  Disney already has plenty of product and NFLX may release 1-2 movies per year to theatrical release.  If AMC is worth 12 billion, than Darden or BLMN must be worth 3-4x that as when the economy opens up, every one is going out to dinner a lot more often that they are going to the movies.
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I'm with you here.

I would short the snot out of this ... but I'm afraid of apes

 
How can a major brokerage not be able to handle a SPAC transition seamlessly?

I'm looking at you Fidelity and my shares of G8252P105

 
McBokonon said:
$GLBE looks interesting. Under the radar IPO last week, didn’t crater or moonshot but has been strong overall. They facilitate cross-border e-commerce, backed by Shopify and just partnered with Facebook.

Has actual earnings, growing like crazy. Israeli and founder-led. I’m starting a small position and will watch it for a quarter or so and see its first earnings before deciding to add more.
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Added a wee bit more $GLBE. Still want to see an earnings report. I found that MF did an Industry Focus on it before the IPO this past weekend and listened to it, which made me want to own just a little more than I initially bought. But now I'm definitely waiting before I add again. Probably.

 
Steeler said:
After they diluted a couple times I sold AMC because I assumed they would do it again, which they did today.  So I got that part right.  Unfortunately I never imagined the price would get to the mid 30s.

I suck at stonks :lol:  
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I think we all feel the FOMO when we see this sort of thing happening.  Momentum is so powerful and I regret disregarding bitcoin when it was at $300 per coin.  It was around 2014 and it had fallen from a high of $1000. 

I very much enjoyed the Mt. Gox stories (this subtitle parody of Mt. Gox is great for anyone familiar with that story https://www.youtube.com/watch?v=JCR3722ACTI) and the Silk Road bitcoin stories were also interesting but I never would have expected bitcoin to reach the heights it has, or I would have easily bought hundreds and be living a slightly different life right now.

 
Angry Beavers said:
Murdock dumps 8.5 M shares and it goes up 23% on the day................ behold the power of the apes
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And MUDS is down like 17%.  I think just shorting out of spite from the WSB goons?

I bought more MUDSU this morning.  And a $15 call on MUDS for cheap.

 
Sand said:
And MUDS is down like 17%.  I think just shorting out of spite from the WSB goons?

I bought more MUDSU this morning.  And a $15 call on MUDS for cheap.
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I took a quick look at MUDS but their call options were still a lot more expensive than the option calculator indicated was fair value, and I have no idea what else they are doing outside of this one example of them turning a quick buck.

 
Caveman33 said:
I took a quick look at MUDS but their call options were still a lot more expensive than the option calculator indicated was fair value, and I have no idea what else they are doing outside of this one example of them turning a quick buck.
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I bought 1 call for $100.  It isn't going to kill me if it dies.   :P

 
JB Breakfast Club said:
Just didn't think they needed to rake the apes over the coals in the way out. Doesn't seem like a strong business plan considering what has happened with AMC and GME. 

full disclosure: I added a stop loss for my 4/21 AMC lot that locks in a triple up, but I don't think this run is over. 
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You may not be able to sell fast enough to ensure anything, the day this crashes

 
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Sand said:
At the least on this I bought some IPOEU at 10.50 a while back.  Keeping the warrants as warrants for now - those hopefully will 🚀
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Have been in the units since the IPO. SoFi is a really interesting company that a lot of people i read/follow seem fairly high on.

 
FreeBaGeL said:
The Mudrick that sold AMC is different than the Mudrick SPAC, I believe.

MUDS the SPAC is down because the MLB decided to roll out their own NFT thing.

https://www.cnbc.com/2021/06/01/mlb-launches-into-nft-space-with-new-company-led-by-fanatics.html
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The bigger hit likely comes from the news that Candy Digital signed an exclusive long-term agreement with Major League Baseball (MLB). What exactly the exclusivity is we don't yet know, but I doubt Topps will be out of the game. The first NFT from Candy is slated to be the NFT of the Lou Gehrig 'Luckiest Man' speech from 1939. That's some cool IP but not somewhere I anticipated Topps/MUDS would go. I view Topps staying with what Topps knows, which are products with the look and feel of trading cards. Candy may be moving more towards the historical moment, arts, and entertainment side of the playing field. 

In the short-term, this is likely a sentimental blow for MUDS/Topps. From a longer-term view, the stronger the MLB community and more acceptance we see of NFTs, the more potential for Topps. Additionally, NFTs are only a small portion of Topps' revenue. I continue to view it as a bonus to the already attractive numbers on the company at current valuations.
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https://realmoney.thestreet.com/investing/mudrick-capital-takes-it-on-the-chin-but-is-still-standing-15671445?

 
AMC up 300% in a week

Company has movie theaters...

The same business model as before the pandemic.

HGEN is down 30% ... as it's drug is about to become relevant and generate huge revenue.

I am not good at this game.

 
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Bossman said:
AMC up 300% in a week

Company has movie theaters...

The same business model as before the pandemic.

HGEN is down 30% ... as it's drug is about to become relevant and generate huge revenue.

I am not good at this game.
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Lol. Give it a month. 

 
Capella said:
Lol. Give it a month. 
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It’s going to be fun to watch. I know shorts are losing money but this isn’t really a short squeeze. There’s so much volume that shorts aren’t running to find shares to buy. It’s not close to the first GME squeeze where that was the case. The short total volume is 1/5 of the daily volume. This is 100% retail investors just buying because they think it won’t ever go down.

I actually have a theory on what the CEO might be doing and it’s not helping the little guy. I could be wrong but they handed Mudrick Capital $50M for an hour of work. The same company that’s been financing them a bunch and just turning it around to retail investors. The founding hedgie is also completely out. The latest 8.5M shares is to fund expansion even though they are running out of cash.

I think they are going to go on a buying spree that they can’t afford and they’ll go chapter 11, clear the books and Mudrick and others will fund the new company. The executives will get their new shares and none of their friends (the hedgies selling all their shares) will get hurt as they’ve converted shares and any bond holders get the sweeter deals. If I was the CEO and people were falling all over themselves to gobble up the 400 million shares you added to the existing 100 million shares (amazing how diluted it’s gotten), I’d do this. Use the cash gotten at unreal share prices to buy distressed things you can’t afford, clear the books with a thank you and give myself shares in the new lean company. I’ve seen it said before, greatest wealth transfer ever. Damn, that would be fun to watch.

 
tuffnutt said:
Look into TRCH... merger with with meta material happening soon and it will be paying a special dividend from a sell off of oil land. I’m in for 1000 shares just to see what the dividend will be... some people are saying a couple bucks some are saying could be $20 so who knows.

Edit to add: I’m a complete moron though so do your DD.
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Up 10% premarket on reports that institutional investors are interested 

 
Bossman said:
AMC up 300% in a week

Company has movie theaters...

The same business model as before the pandemic.

HGEN is down 30% ... as it's drug is about to become relevant and generate huge revenue.

I am not good at this game.
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Buckle up partner, us shorties need to stick together.  No free popcorn for us but there might be tendies.

 
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FreeBaGeL said:
Well against my own advice I shorted 35 shares of AMC for fun.  What could go wrong?
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Damn, no way I’d ever short a stock that has this kind of volume. It’s amazing. I mean fundamentally, it couldn’t be a worse stock to own but that doesn’t matter. This is pure tulip now. It has 0 to do with short squeezing. Doesn’t mean shorts aren’t losing money but there is so much more volume available that shares short so it’s easy to cover. Just means that this is pure market manipulation at it’s finest. People are setting higher and higher asks and more people are filling in right behind them. When does it fall is the question? I’d think at this point it’s so risky for another Mudrick. They flipped instantly but they knew premarket was way up. Do other hedge funds have the cahones to do more flips or can AMC only do public offerings? About $1B in cash now and free cash flow of -$1.3B over the last year and that doesn’t include all of the new debt payments, which I thought I read were now $2B a year.

 
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