What's going on ape nation amc kicked off the month of june in spectacular fashion, it closed out the day just above 32, which was an incredible gain of more than 22. In my non-financial advice, opinion things are playing out perfectly before the long holiday weekend. We were talking about two important things needing to play out. Basically, this weekend a lot of people were seeing their friends their family and spreading the good gospel of the ape nation, as it relates to amc and really gme, and it looks like that did happen.

I mean we gained over 22 percent. The volume was 475 million, very, very good for us and number two. We were talking about how memorial day weekend is notoriously good for the box office and check this out right here. A quiet place part two shatters expectations with 57 million memorial day: haul.

Very, very good. That's clearly a fundamental driver for amc, and on top of that, don't forget that f9 fast and furious 9 will be hitting us theaters at the end of june and then to start off july. We have that massive massive marvel movie black widow so from just a fundamental perspective of what's going on with the business very, very good, and then on top of that, interestingly enough, we all started our days off with this, so they found this 8k and right here On june, 1st 2021 amc issued to mudric capital management, 8.5 million shares of class, a common stock casino class, a common stock to the best of my knowledge right now, that's the only type of stock class, a class b. That's all about the different types of voting power right now to the best of my knowledge, all the types of stock in existence as it relates to amc is class, a most likely.

That's what i have that's what you have now, that's what madrid has, or i should say, had this story is going to take some interesting turns, but they raised 230 million dollars. The company intends to use the proceeds from the share sale primarily for the pursuit of value, creating acquisitions of theater assets and leases, as well as investments to enhance the consumer appeal of its theaters. If you want to know more about this, just so you know, adam aaron did have a. I think it was a five tweet thread explaining what was going on how this was a positive capital, raise for more acquisitions to strengthen not only the fundamental nature of amc but to increase its market share.

But this story does take some interesting turns. So this happened on june 1st. They had 8.5 million shares and if you do the math on this, it comes out to 27 dollars per share, likes and some odd sense. But then right here mudric this is from market rebellion.

Mudric amc is massively overvalued, has sold entire stakes, so basically they told their clients that amc is massively overvalued and apparently got ta have their entire position. And if you look at the timing of when a lot of people were reporting this, it was very closely associated with this drop at 12. 45. Basically, it looked like it was about to run, and then it got hit and the volume kind of does match up.

Like i don't think this was all at once, they were probably selling at various points, but a big chunk of it was right here as of now. I just want to warn you that we have to find out more about this. We don't have all the details of the situation. From the best of my knowledge, we will find out more about what is going on specifically with this when adam aaron speaks with trade trades later this week.

Just so, you know so don't throw out any wild series. Just yet, let's wait for all the information to settle as of now just saying that here's my current opinion what they did. I would consider to be malicious. Why do i consider it to be malicious? Well, yes, they did make money.

I agree with that, but the fact that they did this so publicly and telling everyone that it's massively overvalued, obviously that's spreading fun, and on top of that, look at this timing. They intentionally dumped it during the lunch hour when they know that there's less volume, when you sell so many shares in a low volume environment. Obviously you can have more of like pretty severe results which could lead to hitting stop losses and actually lead to true capitulation. I personally believe that they took their profits and then beyond that tried to attack it and right now.

I have no proof of this. It's just a theory. I would not be surprised if they actually took a short position and really now. This is at the point that i'm putting on my tin, foil hat, but it doesn't take much research to find the connection between ken griffin send it out and right here, look at this comes up twice and just so you know this is on a right here.

Schedule 13d: it includes any person who directly or indirectly shares voting power or investment power. So there is a connection between this and modric. Once again, i want to reiterate i'm throwing on my tinfoil hat, but it didn't take much you just google search it and, like you start to like feel like a detective or like you're, drawing the twine of all the connections. It does seem crazy, but hey if you find anything else.

I i do implore you to do your own dd of what's going on here and yeah. They did make money of what was going on in that profit, but right here, if you look at it, they were down 15, so even the the millions that they made in that game. They lost more in market cap, so it was a net loss of a day for mundrake and honestly, i think karma good good. I'm i'm happy karma did this to them.

I honestly am so weird storyline, but overall to wrap that up. I just want to clarify. We do need to get more information and i think that will be coming out closer to the end of the week. So let's not make any crazy assumptions yet, let's see what's truly going on um for all this information to become public.

Let's talk about ortex. This! No matter what this is going to blow my mind so to start today off we had a short interest of 1749 and we ended the day at 1787 because there was a net borrow of 2.87 million shares. The borrow change was up by five million, so there was five million shares taken out against amc today. I just don't get their thesis, it's a ego, hubris pride play and they're just putting gasoline onto this fire.

They really really are so with that net change. We're over 135 million shares on loan, and there was a net borrow, so i bet we are creeping up or at the 100 utilization rate and just in terms of the days to cover we're at 0.47. If this is the first time about you hearing about any of these terms, i do have a video on this channel. I believe it's cut, titled know these terms and i explain exactly what's going on with all of those and it is beneficial if you're kind of confused about these check it out at least so we're all on the same page we're referring to the same thing.

So that's what's going on with data and finally, let's talk about some of the technicals awesome action. I mean look at this. Amc gained 22 percent today over the past week, it's up 134 and if you go from last monday until this very moment in time, it's up 166. If i have these numbers right.

So if the stock closed at 30 today, i just want to clarify that i'm understating it because we actually closed at 31.58 or 3204 and right now we're at 31.58, so at 30 at 30. So i'm understating it or text reported that the shorts were down. 336 million dollars on the day and don't forget this - isn't counting all the fees that they're paying for the cost to borrow and from last monday. Until this very moment they are down 1.5 billion, and that's if you use 30 as your mark, we close up two dollars higher, which means i mean right.

There case closed but closed. The shorts are really really hurting right now they are down a serious amount of money and i don't care if you're calling us dumb money because we're making a dumb amount of money and the situation does look pretty dire for shorts in terms of technicals. We close out the day at 32, i'm gon na be watching the next resistance around 35 and from there 36.72, which is the all-time high for amc, and once we get above that, i'm just going to wait for wait for price discovery to play itself out. We need to see the new levels of supply and demand.

Of course, we can watch the key psychological levels of 40 and especially 50, but really i'm not throwing any targets out there, because we just have to see how thing plays out, but right there once we get above 36.72. I think that this thing is just going to keep ripping um. That's what i have for you today very very exciting day to be a member of the amc ape nation community things are playing out perfectly, i'm very excited to see what not only tomorrow brings but the remainder of the week. Of course, if you enjoy this video, don't forget all about all that good youtube algorithm stuff.

If you want to drop a like leave a comment hit that subscribe button. It just gets this video in front of other people and until i catch you next time best of luck in the markets. You.