AMC & GameStop 💎: Insider Selling, New Chairman, & The Short Interest || AMC & GME Weekend Update

[Music] what's going on moong the first full trading week of april is now officially in the books which means it's time for your weekend update on both amc and gamestop in this video i'll be going over some important fundamental updates for both of these companies then i'll be going over the most recent and up-to-date short interest numbers and finally i'll be doing a very very quick technical breakdown of amc and jimmy so we know what price levels to watch when the market reopens next week before we get into that just as a little bit of a basis for this video just so you know jamie closed out the week at 158 while amc was at nine dollars and 42 cents as i was prepping for this video i actually found an interesting piece of information right here uh it looks like the original source is bazinga just so you know this trading platform is weeble so if you want to sign up and use it for absolutely free free trades and get up to two free stocks make sure you're checking out the link to weeble in the description of this video anyway so this was posted is facebook suppressing popular trading stock trading groups alan tran trader and founder of facebook inc discussion group robin hood stock traders claims his group has been shadow banned on facebook for more than a month and is one of several large training groups that has been negatively impacted by changes to how these groups are treated by facebook's search algorithm i thought this was interesting just because me being on youtube uh if you're not aware of it i've had my own issues with youtube pretty public issues so it's interesting to see that other forms of social media um people are alleging that they're i guess this is being called shadow binging just like i guess just issues that um i don't know it does i don't know if we have like hardcore verifiable evidence but anecdotally it does seem like across various forms of social media whether it relates to amc or gamestop people um definitely are having their fair share of issues so if you want to read more about this it does look like if you search this title you can find it more on bazinga anyway let's close that and let's uh kick things off with oops sorry you weren't supposed to see this this is awkward um i was researching something else anyway um now that i guess we're talking about melvin melvin capital on the mind we might as well kick it off with gamestop so on thursday april 8th it was officially announced that ryan cohen a co-founder of chewie who's been on the board of gamestop he's kind of one of the main people leading the drive for this to get more into e-commerce more like the amazon of esports sales anyway so this was um kind of just talking about him becoming an official chairman he was on the board now he's an official chairman for gamestop um so that's the big update for there and i guess let's go over the short interest numbers so as of the market close on april 9th the short interest did drop by 2.73 percent as of now the estimated short interest according to ortex ortex link below um i believe that they're the most accurate data source we can currently use in terms of amc and gme just my personal opinion anyway uh they're estimating that the short interest is just below 24 the shares on loan coming in at 12.86 million remember the free float for gamestop is estimated to be around 45 million and the utilization has actually been trending downward a little bit to 33 remember utilization is the percentage of the pie of the ones that are offered to go on loan and then the percentage of ones that are actually borrowed for loan uh so about a third of the pie um right now is being um you can't say that this is definitively shares that are shorted it's ones that are on loan that could theoretically be shorted i think that's the best way to interpret it and then uh so that's what's going on with gamestop and if we take a quick look about what's going on with its charm um so right here 158 i just wanted to point out on the daily perspective this is the daily chart we do we're right at this trend line actually today it hit off of it so next week i will be looking for this daily trend line to hold just so you know over the past week gamestop is down 17.28 over the past month it's down 40 percent but over the past three months is up 775 percent so that's how gamestop is looking heading into next week and let me go over amc and then we'll go into like more of a true technical breakdown of what price levels to watch so the big story i would say most recently especially as of um april 9th is insider sells amc entertainment shares so um i don't know how i feel about this just because i i think it's another clickbaity thing of like hey we know a lot of people are interested in amc so if we title something like this i mean i guess i get it but i definitely would classify it as click bait ooh sorry that just reloaded there um they are definitely trying to just get people to read this story and i kind of understand why but i think i i've done some research of what's going on here and i think i could um add more detail and information to this overall picture related to amc so right here wanna wanda america entertainment which i believe is a part of wanda group which is a chinese conglomerate i love saying it sounds so cool and official anyway um they filed a form four with the sec on friday april 9 and some of them this information came out before we dive into these numbers let me set the stage for you so wanda group has been involved with amc all the way back from 2012 until now here's some stats i found for you so as of june 2020 wanda group actually had 59 voting power they definitely had a majority vote and they had 51.7 million class b stocks the main difference between class b and class a is just like their voting power and that's important that june point because fast forward to december of 2020 they actually were already kind of in the mode of selling off some of their position in amc their vote had dropped to 47.37 of the vote their voting power drop because they were selling shares and at that point they owned about 23 of outstanding shares so i just wanted to bring that up because from june to december wanda was already in the mode of basically lessening their stake in amc and i think that um kind of better explains what's going here but actually before we get into these numbers i think it is important to just kind of show you so like i said they were some point between june and december of 2020 they were already in the mode of selling which means somewhere between the price of 735 and really let's just call it whatever this low is 195 wanda group was already selling some some of their amc in here and i think that's important to lay out because this article is making it seem like a very big deal that they sold it at an even higher price and i'm just kind of arguing from the information we have from june to december wanda was already like in the process of lessening their amc stake and for them like i mean at a certain point they have a fiduciary responsibility to try to maximize their gains so when they were seeing it trading above whatever this high was like the the high sevens like i think for them it was just like kind of an obvious deal and i want you to just like understand that as a better basis for the numbers i'm about to read to you so um it was reported to the sec on friday april 9th that on monday february 1st so remember these reports as soon as you get them it's kind of already old information because they're reporting on things that they already did but anyway on monday february 4th first they sold 2 million shares of amc at 14.59 and what was also important on february 1st they chose to go through they had the right to turn their class b voting power into class a so really they went from three votes per share which is like how amc has structured their class b to one vote so inherently not only did they sell some off but by going from class b to class a they did lessen their overall voting power in amc um so that's two important things happen on february 1st and then fast forward to mid-march on march 19th they sold another 1.5 million shares and then on march 20th they sold 12 million shares at 13.98 so they sold some at 1443 they show sold an additional chunk uh on saturday uh a rent right below 14. so uh as of now as i'm filming this uh they granted on friday after this news broke or really post march 20th wanda yes theoretically could have chosen to sell more amc but as of this filing they have 44 million shares which is just under 10 of amc's outstanding shares so yes amc still has a big stake in amc or excuse me wanda still has a big stake in amc just clocking in just under 10 but i do want to point this out on the charts just of where all this happened so more importantly they sold a lot or not a lot but they sold a decent amount between june and december and it had to be at a lesser of a price just because this the stock was never that high um and then right here february 1st this was a red day followed by another red day it could have been partially because wanda was selling and then again right here march 19th which i have highlighted now and then again to the 22nd because remember they sold on saturday both of the times that we seen this sec filing with the form four when wind has sold it was very much associated with a red day but part of me thinks that like hey they just saw a very good opportunity i mean they were willing to sell below eight dollars so for them to sell in closer to 14 i'm sure they were ecstatic they've been in it through 2012. i think for them they're just trying to look at lock in some gains at this point especially when they were dealing with this squeeze i think they just saw it as an opportunity of like hey we have a duty to our shareholders we need to lock in money and i think they were seeing it as that but keep in mind they still own 44 million shares they still own 10 of amc so i think i just want to get all those numbers out there you can interpret the data however you want but i think it is kind of important to put it in the scope of really what was going on between wanda and amc and specifically their ownership so that's what's going on with wanda and in terms of amc as of now today the short interest did actually increase um up 0.68 the estimated short interest of the free flow is now above 20 the shares on loan is 130 million and remember that the free float for amc is around 400 million and the utilities utilization is absolutely sky high absolutely sky high 95 out of the entire pie of shares that could be borrowed two potentially short 95 percent is on low that's crazy high and also just look at this trend i mean the short interest as of thursday march 18th was at eight percent and it quickly jumped and then since then has been slowly grinding higher and higher and now we're already above 20 so the short interest i mean look at the trend it's on the screen it's just higher and higher and higher i want to remind you whether it's amc or gamestop a high short interest in no way guarantees a short squeeze but it is a part of the puzzle that we need for short squeeze right now we just really the piece of the puzzle that we're missing is bullish buying bullish sentiment so basically these people who have been shorting it when the stock goes up i should say i guess if the stock goes up they will have a lot of pain and as these numbers go higher and higher that means more and more pain which means a higher short squeeze if it happens i have to say if because no one can perfectly predict the stock market you can't do that these people calling for certain prices by certain dates i personally believe that's like it's a fool's game no one can call it that accurately but i'm just saying i'm laying out the data i'm giving you the facts of what's going on right now can a short squeeze happen on gamestop at amc verifiably yes both of the numbers are sky high right now and in fact there's a good argument that amc is trending higher and higher which means a bigger and bigger squeeze um like i said the big missing piecing missing piece to this puzzle right now is just a nice bullish follow through um before we go into the technicals now of amc and gme there's one thing i i wanted to bring up here that i think is important so yes we could see on february 1st juana sold 2 million then they sold 1.5 million then they sold 12 million and yeah you could say it that way or another way i could argue is that the market someone in the market bought 14.5 million shares remember with any seller there has to be a buyer it's not that like they're just sold and then they're just waiting like whenever there's a seller there's a buyer so another potential title for this instead of insider sells amc entertainment shares means market buys 14.5 million shares of amc between february and march like i need to clarify that of like yes that is downward pressure but that means that someone bought it as well um so that obviously on those days those were red days it did have downward pressure but someone out there or a group of people was buying a lot a lot of amc to the point of buying at least 14.5 million shares um that is another potential title for this i just want to kind of explain that because i think with that clearly they know what they're doing this is click bait they just want people to click on it so this does sound more bearish it does like provoke an emotional response but i think it's more important to actually dive into the data and truly understand what's going on so now with that being said just so you know um i know it didn't feel the best how amc closed but on the week it's actually positive amc is actually up 0.64 percent over the past month it's down 4 and over the past 3 months it's up 359 i'm just trying to give you the data and like give you a good understanding that like no over the week amc is still actually up now with that being said let's do some technicals since i'm talking about amc let's just start off with that um amc the closest support i would argue is nine dollars when i say technical support all i mean is a price level that it's bounced off of multiple times before i'm looking for that to happen again in the future and the resistance would be opposite just say price level that the stock has been rejected by so as we can see here nine dollars is pretty important to amc it's been rejected by it it consolidated at it rejected support support support so i'm looking for nine dollars to once again be important for amc past that i'll be watching 840 and on the other side we have resistance i think there's now gonna be a little bit of resistance in that region between 1975 and 10 past that i'll be watching a little bit at 10 50 but i mainly care about 11. and now let's switch over to gamestop gamestop training at 158 same thing with the support uh 143 past that really every five or ten dollars you could argue that there's support there's clear support here at 115 there's going to be a little resistance here at 135 we could also watch 142. honestly every 10 on gamestop there is some form of technical support and you could also argue resistance of course um but pass this at 112 i would then be watching that key psychological uh level of 100 on the top side of it i'm watching 185 185 followed by the region of resistance between 200 and 212 and on the top side of 212 i would then be watching 250. so those are the price levels i'm watching for gamestop and really amc another thing i want to point out is the rsi aka the relative strength index that's this technical indicator on the bottom here it just basically maps out values of zero to 100 and it is mapping out the momentum very high is a lot of bullish momentum very low is a lot of bearish momentum this is important to bring up because a lot of day traders swing traders and investors use it as a reversion tool basically when it gets very low they look for a bounce and when it gets very high they look for a sell-off remember no technical indicator is ever ever going to be perfect but it does have its advantages and the reason i'm bringing it to your attention now is because both gamestop and amc are very low aka i think a lot of people this upcoming week will be looking for just a technical bounce not even talking about the short interest or the fundamentals just purely from a technical training standpoint gamestop is coming up to a region of support at 143 and the rsi is oversold so i think there's a strong technical argument for a bounce in early in this early upcoming week i mean right now i mean we broke below 30 which is considered to be very very oversold so i would be comfortable betting on a reversion um early this upcoming week same thing with amc not as low but still pretty low we are coming up to this level of support i think they have very very similar technical arguments so from a technical perspective i could definitely see amc and gme bouncing from a short squeeze perspective these numbers are still very high the estimated short interest for amc is 20.3 percent the estimated short interest for gamestop is almost 24 and then other than that i think there's a little bit of confusion click baity flood being spread about this wanda selling on amc and in terms of what's going on with gamestop ryan cohen is now the chairman one of the chairman a lot a lot of people like that he's involved with gamestop they think he's taking it in a good direction and the nice little cherry on top is right here melvin capital extends first quarter losses to 49 obviously they got severely severely hurt with gamestop i would love to know your thoughts on both amc and gamestop in a comment below let me know uh what your thoughts on all these fundamental developments technical elements and the current short interest personally i find it very interesting that amc short interest is continually going higher from mid-march to right now it's gone up from eight percent all the way up to 24 i believe um 21 so that's going sky high so let me know your thoughts on that below don't forget if you want to be a member of the moon game all you have to do is hit that subscribe button if you enjoyed this video if you want more people to see it it would help me out with the algorithm all you have to do is drop a like and leave a comment that type of engagement also subscribing does help spread this video to other people i'm just trying to get good data good evidence out there to all these other diamond handed hodlers and uh as a final reminder if you want to use weibo that's this trading platform right here there is a signup link in the description of this video until i catch you next time from me and doctor best of luck in the markets you

Channel: Matt Kohrs

Views: 24,261

Keywords: gamestop, gamestop stock, gme, gamestop short squeeze, gamestop stock explained, gamestop explained, amc, amc stock, amc stock prediction, amc live, amc stock live, amc short squeeze, amc squeeze, amc price prediction, gme stock live, gme stock prediction, gme stock analysis, gme stock explained, gme stock short squeeze, gme stock news, tesla, tesla stock prediction, tesla stock analysis, tesla stock today, matt kohrs, matt kors, stocks, stock market, investing, trey trades

Id: 5PIpPCwoZ1s

Length: 19min 16sec (1156 seconds)

Published: Sat Apr 10 2021