Advertisement
If you have a new account but can't post, please email Niamh on [email protected] for help to verify your email address. Thanks :)
New AMA with a US police officer (he's back!). You can ask your questions here

Amc shares

  • 24-04-2021 11:26am
    #1
    Registered Users Posts: 393 ✭✭ strandsman


    Has anybody been following the amc shares activity? I’ve bought a few to see how it pans out but time will tell I suppose . Alot of hype about it and gamestop squeeze last January.


«134

Comments

  • Registered Users Posts: 66 ✭✭ wgk


    In here for 15K....has been an arduous and winding road since Jan...

    Reading stocktwits etc in the last week, it does seem this is about to reach a flashpoint so hoping something pops shortly.


  • Registered Users Posts: 787 ✭✭✭ richie123


    I bought a few too at 6 50.
    Youd hope with reopening things would improve.


  • Registered Users Posts: 393 ✭✭ strandsman


    wgk wrote: »
    In here for 15K....has been an arduous and winding road since Jan...

    Reading stocktwits etc in the last week, it does seem this is about to reach a flashpoint so hoping something pops shortly.

    Ya I bought in too over last couple weeks. Seems like a lot of excitement about it. Time will tell!


  • Registered Users Posts: 112 ✭✭ Dr_Kolossus


    in it for 290 shares.

    Can I ask what brokers you guys use. Im on eToro and Revolut. Both seem to be not the best lets say, if you really are relying on them.

    eToro for example have in their T's & C's that they reserve the right to close your positions without your consent in the case of an exceptional event. Basically they can close your position at any time without your consent, whats more there are numerous examples of them doing just that, with GME during the January squeeze.

    Revolut are similarly sketchy. So what would you recommend and why?


  • Registered Users Posts: 2,308 ✭✭✭ patnor1011


    I tried revolut for crypto and even though I earned some their fees are outrageous. I cant justify using them for this as 1.5% fee cant be compared to 0.1 or 0.075% on binance for example.


  • Advertisement
  • Registered Users Posts: 787 ✭✭✭ richie123


    in it for 290 shares.

    Can I ask what brokers you guys use. Im on eToro and Revolut. Both seem to be not the best lets say, if you really are relying on them.

    eToro for example have in their T's & C's that they reserve the right to close your positions without your consent in the case of an exceptional event. Basically they can close your position at any time without your consent, whats more there are numerous examples of them doing just that, with GME during the January squeeze.

    Revolut are similarly sketchy. So what would you recommend and why?

    Degiro is the best i think.
    I also use etoro and revolut too but degiro is my preferred platform
    Yahoo finance for up to date prices.
    degiro can be slow and glitchy ..I dont think there's any perfect platform out there from reading all the posts in this forum lately


  • Registered Users Posts: 112 ✭✭ Dr_Kolossus


    Thanks for the replies patnor & Richie.

    I have some crypto with Revolut, Really bought on a whim and its been good to me, just bought and held. Yeah fees are outrageous alright, but as i'm not actively trading will leave it for now.

    I guess they all have their issues, Will look into Degiro, to spread the risk as I have a fair bit in GME on revolut and eTorro already. Would be sick if either GME or AMC actually does squeeze and I got screwed over.


  • Registered Users Posts: 393 ✭✭ strandsman


    I use degiro , etoro and interactive brokers. I setup these as some shares may not be traded on certain platforms. Mostly use interactive but have my amc shares split between them and DEGIRO in case something goes wrong! . Etoro i use for copy trading. I’m looking forward to the amc and citadel battle. It’s going to be fantastic, Stocktwits is great to follow also for info.


  • Registered Users Posts: 201 ✭✭ cal naughton


    AMC up 30% . To the Moon!


  • Registered Users Posts: 72,796 ✭✭✭✭ Atlantic Dawn


    AMC up 30% . To the Moon!
    Mask restrictions lifted in US today for those who were vaccinated, should help indoor venues.


  • Advertisement
  • Registered Users Posts: 5,440 ✭✭✭ daheff


    Mask restrictions lifted in US today for those who were vaccinated, should help indoor venues.

    That and short borrow rates through the roof

    And AmC completed an at the market share issue giving them a ton of cash too.

    A couple of celebs seem to be getting on the bandwagon too


  • Registered Users Posts: 1,097 ✭✭✭ UsBus


    Bought into AMC a couple of months back only to watch it drop off.
    Have been watching it steadily come back up the last few weeks. The number of comments on Yahoo Finance about the squeeze is off the charts. Some decent info there in between all the absolute rubbish, begging you to hodl till it hits 1000..:rolleyes:

    Its hard to know where it can climb to, 100 would be nice. Am enjoying the conspiracy talk of hedgefunds having to sell off everything to cover their shorts, which could cause major volatility across the market.


  • Registered Users Posts: 5,440 ✭✭✭ daheff


    UsBus wrote: »
    Am enjoying the conspiracy talk of hedgefunds having to sell off everything to cover their shorts, which could cause major volatility across the market.

    If the conspiracy theory is right there will be wild swings in the market.
    IF

    Interesting times ahead


  • Registered Users Posts: 1,097 ✭✭✭ UsBus


    Down nearly 8% in Premarket trading.
    There is some messy trading going on here. The hedge funds are in it up to their necks on this one.

    If this starts to rebound up another few dollars, we could be looking at carnage. Can't help but think there are funds being taken from crypto to cover this mess.


  • Registered Users Posts: 5,440 ✭✭✭ daheff


    Whole market is a mess today.... crypto included.

    Down days like this feel like buying opportunities....


  • Registered Users Posts: 201 ✭✭ cal naughton


    Up nearly 20% today. It's gaining momentum for a possible squeeze!


  • Registered Users Posts: 3,547 ✭✭✭ DeanAustin


    Got in today. Just 10 shares for a bit of fun because this isn't investing - it's pure gambling. It's going well again today though.


  • Registered Users Posts: 1,788 ✭✭✭ Cute Hoor


    Got out today, took my profit, best of luck with your buy, hard to know how it's going to go


  • Registered Users Posts: 1,788 ✭✭✭ Cute Hoor


    DeanAustin wrote: »
    Got in today. Just 10 shares for a bit of fun because this isn't investing - it's pure gambling. It's going well again today though.

    Good decision on your part, bad decision on my part


  • Registered Users Posts: 201 ✭✭ cal naughton


    It's taking off! Up over 30% today.


  • Advertisement
  • Registered Users Posts: 2,004 ✭✭✭ crushproof


    It's taking off! Up over 30% today.

    Balls, sold out for a small profit at opening today!


  • Registered Users Posts: 72,796 ✭✭✭✭ Atlantic Dawn


    38.5% now, insane.


  • Registered Users Posts: 787 ✭✭✭ richie123


    Theres seemingly 450 million shares in amc ?
    How high can it go in reality compared to gamestop?


  • Registered Users Posts: 66 ✭✭ wgk


    richie123 wrote: »
    Theres seemingly 450 million shares in amc ?
    How high can it go in reality compared to gamestop?


    Reality is a lot of DD suggests AMC has 1+billion synthetic shares floating in the market that must be eventually bought back to get anywhere near the 450m issued mark so a lot of legs left in this.

    I also think a large swathe of buyers here are looking for it to hit GameStop levels before selling and this has become embedded in their approach

    Very biased, in for 2,400 shares since $10 and glued to this


  • Registered Users Posts: 787 ✭✭✭ richie123


    wgk wrote: »
    Reality is a lot of DD suggests AMC has 1+billion synthetic shares floating in the market that must be eventually bought back to get anywhere near the 450m issued mark so a lot of legs left in this.

    I also think a large swathe of buyers here are looking for it to hit GameStop levels before selling and this has become embedded in their approach

    Very biased, in for 2,400 shares since $10 and glued to this

    Yes but gme has 70 million in flotation...how is it even possible that amc to hit same levels when you have 7 times the shares in circulation ? If amc hits 50 that's the equivalent of 200 roughly for gme.am I reading this right ?
    Best of luck by the way be some job if it does hit 50 or more lol


  • Registered Users Posts: 66 ✭✭ wgk


    richie123 wrote: »
    Yes but gme has 70 million in flotation...how is it even possible that amc to hit same levels when you have 7 times the shares in circulation ? If amc hits 50 that's the equivalent of 200 roughly for gme.am I reading this right ?
    Best of luck by the way be some job if it does hit 50 or more lol

    Think it boils down to how many real diamond hands are out there, couple of key differences with gme, notably the level of shares owned by retail investors going into this - the funds etc are under time pressure to buy back stock (been a couple of SEC changes in the US that have forced this issue and there is a milestone date next week where the actual shares being traded v’s the authorised 450m float will be revealed which has fuelled some of the momentum to buy over last few days)

    I think in a squeeze situation, the pressure dictates the spike - google Volkswagen squeeze and see where that got to. But yes, if there is free flowing sales, a huge spike will be avoided so this all depends on humans’ ability to band together and withstand temptation for a greater outcome.


  • Registered Users Posts: 5,440 ✭✭✭ daheff


    In it at around 9.50....mainly from reading reddit DD

    There is an AGM coming up and record date is today.
    This was pushed back once already because of discrepancies with numbers.

    If (big if) there are more votes than shares cast that would indicate synthetic shares were sold and a good possibility of a squeeze on the shorts.

    To compare this to GME, the larger float for AMC makes it a little harder to squeeze, and AMC isn't trying to pivot it's business model.

    Both were targets of hedge funds trying to short them out of existence. Both have survived and with US more open, now unlikely to fail. Also both have issued shares at the market adding funds to their bank.

    AMC has traded at around $35 in the last couple of years, but had a decline which was accelerated by Covid.

    If this squeezed, we could see prices hit stupid levels, especially if people hold and wait. Really depends on the short position.


  • Registered Users Posts: 120 ✭✭ Wolftown


    Completely new to this and put a punt on AMC less than a week ago on the advice of a friend. It's now up 110% which I'm pleasently surprised by.

    Always tempting to cash in on over double the money, but general consensus seems to be hold out. So that's what I'm doing for now.

    If it hits anywhere near the heights some are forecasting I'll be delighted!


  • Registered Users Posts: 787 ✭✭✭ richie123


    wgk wrote: »
    Think it boils down to how many real diamond hands are out there, couple of key differences with gme, notably the level of shares owned by retail investors going into this - the funds etc are under time pressure to buy back stock (been a couple of SEC changes in the US that have forced this issue and there is a milestone date next week where the actual shares being traded v’s the authorised 450m float will be revealed which has fuelled some of the momentum to buy over last few days)

    I think in a squeeze situation, the pressure dictates the spike - google Volkswagen squeeze and see where that got to. But yes, if there is free flowing sales, a huge spike will be avoided so this all depends on humans’ ability to band together and withstand temptation for a greater outcome.

    The other thing we have to remember is the reopening in general ...money will be flowing in and demand could be very strong in coming months...with people being sick of staying at home for past 15 months just another factor to consider


  • Advertisement
  • Registered Users Posts: 5,440 ✭✭✭ daheff


    richie123 wrote: »
    The other thing we have to remember is the reopening in general ...money will be flowing in and demand could be very strong in coming months...with people being sick of staying at home for past 15 months just another factor to consider

    And a number of cinema releases that were held back because of Covid. I think there will be a few months of good business but could tail off quickly if they run out of new movies to show....or a couple of outbreaks get linked to cinemas.


Advertisement