Adam Aron posted a shocking tweet talking about the “Share count” of AMC stock.
Adam said “AMC has done a share count 6 times in the past year. We know of 516.8 million AMC shares. Some of you believe the count is much higher. As I’ve said before, we’ve seen no reliable info on so-called synthetic or fake shares.” Tweet seen below.
The apes were completely confused about this for multiple reasons. For one reason being how random it seemed for CEO Adam to make a tweet like this. It’s no secret that the AMC shareholders have been adamant in asking Adam Aron about this topic, but for him to just tweet something so certain like this seemed to catch the apes off guard.
The reason this caught the apes so off guard is because of the sophisticated theories the apes have built out which show that there are more than one billion shares out there.
Many of the AMC holders think that CEO Adam might be tweeting something like this for legal reasons. This could be the case since being an owner of a publicly traded company can come along with many risks when it comes to legal trouble. Could it be that CEO Adam is covering his tracks for something along these lines?
NEW HEDGE FUNDS SHORTING AMC STOCK
In recent times there has been more shorting of AMC which has been driving the stock down in price. Specifically Bank of America has been in the spotlight, with many retail investors closing their bank accounts with Bank of America after finding out that Bank of America was heavily shorting the AMC stock. Currently Bank of America is 1,007,500 shares short. However, institutions more heavily shorting the stock include Susquehanna, who is 11,004,100 shares short, Citadel who is at 4,889,900 shares short, Goldman Sachs with 2,785,000 shares short.
While institutional investors might have an upper hand with the buying power up front, AMC retail investors are in this for the long haul. They’re willing to buy and hold positions for however long it takes. Ultimately institutions are having to pay while the short positions are open and the longer, they have them opened, the more they’ll have to pay — and if the highly anticipated short squeeze happens these institutions may be in more financial distress than what they ever bargained for with these short positions.