Nothing out of the ordinary. Just obvious his heart breaks for the poor shorts getting hammered.Has been this way for years. What did he do this time?
Seems like we’ll get some discounts on a lot of good stuff as they sell off to cover shorts.DIS has been selling off......get ready to buy more.
Lol. That’s on top of AMC themselves selling over 60 million shares on Monday and Tuesday. Over 100 million new shares. That’s a 25-30% dilution.fix is in.
AMC Entertainment Holdings Inc. said Thursday a group of investors including units of private-equity firm Silver Lake have opted to convert all $600 million of the cinema chain's 2.95% convertible senior notes due 2026 into Class A common shares, at a conversion price of $13.51 a share. The stock closed Wednesday at $19.90, after being swept up in the[l: short squeeze in shares of videogame retailer GameStop Inc. , which has skyrocketed more than 1,600% in the past two-plus weeks amid support from investors on Reddit's WallStreetBets message board. AMC said the conversion will result in the issuance of 44.4 million new shares. The conversion will reduce the company's debt by $600 million. AMC shares rose 4.4% premarket and have gained a stunning 839% in the year to date, despite the many challenges facing the world's biggest cinema operator caused by the coronavirus pandemic. The S&P 500 has fallen 0.4% in the year to date.
How are new shares being created like that? Doesn't that require SEC coordination?Lol. That’s on top of AMC themselves selling over 60 million shares on Monday and Tuesday. Over 100 million new shares. That’s a 25-30% dilution.
Well people are allocating all of this capital to these firms. What, exactly, did they think these companies would do with it?Lol. That’s on top of AMC themselves selling over 60 million shares on Monday and Tuesday. Over 100 million new shares. That’s a 25-30% dilution.
Their real customers are high frequency traders they sell data to. I have to imagine they’re getting pressured big time behind the scenes.Why would robinhood give a competitor business like this? We are living in crazy town.
#### if I know. Normally there are announcements but I think if you have convertible debt it’s already been setup and you here after the conversion to shares.How are new shares being created like that? Doesn't that require SEC coordination?
No disagreement here, just got my popcorn ready for the bag holder stories. I know the head folks at wsb are going to get out on top but the Johnny come lately’s will get killed. It’s all about the money regardless of side. No one is doing any of this to donate all proceeds to charity.Well people are allocating all of this capital to these firms. What, exactly, did they think these companies would do with it?
Hopefully so.Looking to be a real blood bath out there today in these WSB trades
I guess Chamath donated his profits to Barstools restaurant fund (which has helped such great restaurants as Tadich Grill in SF), but this is probably all just advertising for himself/Social Capital.No disagreement here, just got my popcorn ready for the bag holder stories. I know the head folks at wsb are going to get out on top but the Johnny come lately’s will get killed. It’s all about the money regardless of side. No one is doing any of this to donate all proceeds to charity.
Media: WE HAVE TO HELP PROTECT THESE PEOPLE FROM LOSSESLooking to be a real blood bath out there today in these WSB trades
Isn't that a smart move for the company? I'm not sure why GameStop hasn't done something similar. The best product Elon Musk ever made wasn't his cars, it was his stock. Tesla made bank on issuing stock.fix is in.
AMC Entertainment Holdings Inc. said Thursday a group of investors including units of private-equity firm Silver Lake have opted to convert all $600 million of the cinema chain's 2.95% convertible senior notes due 2026 into Class A common shares, at a conversion price of $13.51 a share. The stock closed Wednesday at $19.90, after being swept up in the[l: short squeeze in shares of videogame retailer GameStop Inc. , which has skyrocketed more than 1,600% in the past two-plus weeks amid support from investors on Reddit's WallStreetBets message board. AMC said the conversion will result in the issuance of 44.4 million new shares. The conversion will reduce the company's debt by $600 million. AMC shares rose 4.4% premarket and have gained a stunning 839% in the year to date, despite the many challenges facing the world's biggest cinema operator caused by the coronavirus pandemic. The S&P 500 has fallen 0.4% in the year to date.
And they should ####ing be...Hoo boy, people are BIG MAD at Robinhood this morning.
But how will this man survive without his $44m, 2 month/year home?poor Plotkin, might have to sell his $44m vacation home.
Melvin Cap CEO
Start making coffee at home? Cut down on avocado toast?But how will this man survive without his $44m, 2 month/year home?
We like the stock.That's a bummer; many people really like those stocks.
Error:(100906) Your market order cannot be accepted right now because the last trade price is not in line with the current bid/ask price. Please change your order to a limit order.
Your post made me realize I am too. Except a beanie. Not intentional.I don't know about you guys, but I'm wearing all black and have my hat on backwards.
If you don't have after hours trading ability then all pre market orders have to be limits.Just tried to buy AMC with market order:
Maybe, but here's the thing. A lot of these guys bought GME at significantly lower prices than $200/share. There are only 50M shares in float, so if 1,000,000 of these guys are out there and bout 50 shares each at $20 share a short while ago, completely possible. One of the co-founders of reddit has a pretty damning post about his reasons why. And a lot of these guys are refusing to sell.I still think this latest craziness is just a pump and dump from the usual masters of the universe, deep pocket guys. Musk and Palihapitiya are just some more vocal and transparent ones who piled in, but others in their tax bracket are mostly behind it IMO. The Reddit users think they are moving markets and sticking it to the man is a nice story and provides some cover. WSB people might of hatched the idea, and started the momentum, but no way an army of message board dudes, mostly buying small lots of GME @ $200+ are the sole pumpers, but will be the bag holders.
usually it will set it to execute when the market opens.If you don't have after hours trading ability then all pre market orders have to be limits.
You shouldn’t be able to pre-market. Off hours trading is always limit orders on Fidelity, not that I do it much.Just tried to buy AMC with market order:
Grey tshirt and backwards hate.Your post made me realize I am too. Except a beanie. Not intentional.
I'm reminded of thisBut how will this man survive without his $44m, 2 month/year home?poor Plotkin, might have to sell his $44m vacation home.
Melvin Cap CEO
You sure?Fidelity still allowing all trades
Getting the same error. Some shady shot going on,.Just tried to buy AMC with market order:
Yeah, I've seen that option in the past. In fact, just the other day I was looking for that option on E Trade and now it's gone. Good point, sirusually it will set it to execute when the market opens.
2 minutes in...AMC trading halted
feeling smarter after my question about this yesterdayMy concern is that people with mad amounts of money go "oh yeah, WSBs? Watch this" and gives all retail investors a kick to the groin. If I'm Gamestop management, I try and issue a ton of new shares at a guaranteed price to get liquid.
Wall St owns the government. What they want, gov't will make sure they get.Man, good for all you guys that are cleaning up on this stuff, but if I were in it, I'd be OUT today.
Maybe that's the coward in me, but I dont believe for a second that the powers that be are going to allow a bunch of people on an ap to bankrupt a bunch of billion dollar financial institutions. (If that's REALLY what's going on here and not just cover for a bunch of Michael Burry types)
This Robin Hood throttling just seems like the first step in putting an end to it. Its a HUGE Red Flag.
Not saying the hedge funds dont deserve it (I've seen what these people make. The AVERAGE salary at a big time hedge fund is shocking. Getting greedy with these sort of naked shorts seems incredibly reckless and I'm glad someone noticed it) but I dont believe the government is gonna allow them to get destroyed. Directly or indirectly (through applying pressure on companies like Robin Hood) they're gonna stop the bleeding before its "too late")
So for those of us newer to investing who are not partaking in the the games being played here, what is your advice for today and the next few weeks of this?Can easily happen. And the odds are it will at some point. Timing these things though is very tricky. Someone asked me if I ever go more than 25-30% cash.
Yes in May 2008 I went to 50% cash. I went all in with it in Late February 2009. Was a little early....but still killed it.
Right now....GME and AMC and all that high frequency coordinated “stick it to the man” stuff going on (and I have no problems with it at all but know someone is going to be left holding the bag on all this horse **** and don’t let that be you) is all fine and well and people are making money. Great.
The amount of noise and frothiness in this market. The amount of cavalier recklessness and “I am an expert” screams of a correction. "Irrational Exuberance”. If you fail to see that you are part of it. Simply giving sound advice here.
I am not a day trader, I am not a guy who is giving you hot stock picks daily and getting in and out by the minute. I invest for the long term.
This is a classic top. And it is about to blow at some point. The margins will be hammered and the indiscriminate selling will happen and all the great high quality will unravel as well along with all the crap that has run up. And that is when I will come back here....give you a list like I did back in March.
Right now.....taxable account (My IRA’s and 401k always stay invested as I do not time with those accounts....I do not ned that money for another 15 years) is sitting at 30%. I am comfortable with that percentage. I do not feel like we are going into a long bear market. I feel like we will have a sharp correction at some point this year (15-20%) and it will present another great buying opportunity into the master list.
It has been fun to watch this though. I hate hedge funds and I hate short sellers. They are like the guys who stand at the craps table and bet the no pass line.
Bad Karma.
I like seeing them suffer here.
Just be careful for those partaking into this extraordinary event we are seeing.
For the record and I can’t post here all the time.....I took a position in a little company names Tootsie Roll 2 weeks ago (I did not advertise it) and we sold yesterday when it was up 38% in the morning. So I had some fun with that one.
The tragic thing that will happen is at some point Gamestop will be bankrupt and gone. It is almost a certainty. What is going on with the stock is unsustainable. So make your money and get out. Do not be the bag holder. And please be extremely cautious with other so called “let’s crush the shorts’ positions. Use money you are willing to lose 100% of. Do not put your life savings into these vehicles. Could you get very rich very fast? Yeah....good luck knowing when to sell. Good luck knowing when to get off the drug. It is extremely dangerous.
Make some money folks. I am all for it. But understand this is pure gambling. And the rules get changed on the fly, by the minute, by the second sometimes.
Still love AMT, MDU, EBS at these levels for the long term. AAPL had an amazing quarter.....just amazing. And it is down pre-market.....LMFAO. Yeah......the top is going to blow sooner than later.
Ignore itSo for those of us newer to investing who are not partaking in the the games being played here, what is your advice for today and the next few weeks of this?