What's going on moon gang, it's another b-e-a beautiful day in ape nation man, i am so ungodly excited for how we kick this week off. It gets me jacked up for what's not only going to play out tomorrow, but for the remainder of this week. So in this video i want to give you a really quick rundown of what in the world is going on, with both amc and gme kind of give you that quick recap and they give you a better idea of what i'll personally be looking for. Not only tomorrow, but really to see what happens for the remainder of this week, because, thus far the apes are clearly in the driver's seat now before we hop into it just so.

You know amc closed out the day at 57 flat, which was a gain over 15 percent and even in as i'm filming this now in post market trading. Amc is up even more gme closed out the day at 229 44, which was a drop of 1.67. But i will also do my best in this video to explain why i would actually count that as a win for gamestop right now. So with all that being said, let's hop right into it.

No, i had to bring this to your attention just from marketwatch. We all know that this had to be so extremely painful for them to write. Amc shares surged over 15 on hashtag amc day as meme traders. That's us remember, dumb.

Money aim to push movie change shares back above 60. In fact, i want to give you a little bit more of i guess context for what this actually means. Having peaked at 60, 55 amc closed out the day at 57, creating a loss of almost half a billion dollars for short sellers in one day. You know we might be dumb, but it looks like we're causing a whole heck of a lot of problems for the people, betting against this stock, but wait there's more right.

Here, short sellers have lost over 2 billion dollars in amc since the beginning of june. Absolutely incredible: we are becoming such a horrific headache for all of them, so when in doubt, when they're spreading fud and you're doubting, what's going on, come back to the data, come back to the situation, appreciate the fact that since the start of the year until now, Amc's trajectory fundamentally, as a company has been nothing but improving the data's still in our favor there's high short interest, they're losing a lot of money. These shorts are clearly underwater and then, finally, as you can see here, the chart is absolutely beautiful. Ever since we started this run-up on may 21st, we are now up 369 percent.

I get that some of us are a little bit bummed out that we are down nine percent from that that hot, the highest close we've had back on june, 2nd, but at 9 healthy correction after ripping 369 percent. We are a-okay, and i also want to bring this to your attention since the start of 2021. Until now, amc is up six hundred percent, let that sink in. That is absolutely incredible, and i'm here to tell you in my non-financial advice, opinion i think we're going even higher.

I think these shorts are so incredibly trapped right now that they don't know what to do with themselves. They don't know what to do with us. They just don't know what to do, because we are that big of a headache. So after today, the net change between return shares and borrower chairs was essentially net neutral.

The current estimated short interest is 12.55 percent. We're going to see how these numbers update in the morning, but the shares on loan, roughly 83 million utilization roughly 78. What i want to give you a quick reminder of right now it, and it just makes me feel, like kind of warm on the inside. On average, they've been borrowing these shares against amc for 52 days.

That tells us that if you go back 52 days, they're in here, their average is around dollars we're trading at fifty seven dollars. They are down almost 500 percent on the position and don't forget the fact that they've been paying those costs to borrow fees. They are doing nothing but hemorrhaging money on their current play and we're getting to the the d-day clock on them is really ticking. They can't keep this party long for much longer, they're, going to run out of money, they're going to run out of collateral.

The brokers are going to come to him and be like hey guys. You are you're worth nothing you're at zero. What's going on, we need money or you need to bail on the position in terms of the technicals. What i'm personally looking for on amc tomorrow yesterday in the weekend update video.

I was kind of mentioning that this was a major region of resistance and that's actually right where we got knocked today between 60 and 62. That's clear resistance. The only reason i'm saying that is because it's been rejected there, multiple times before 62 60. 60, like it's like, you can see the multiple rejections, so it ends up becoming a self-fulfilling prophecy.

I'm not the only one on this planet who sees that amc has been rejected here. So people day traders swing traders, they come up and they're like okay, i'll take my profits. I know it's resistance and then because they're selling it that's how it becomes a self-fulfilling prophecy. So my main look for tomorrow is this breakout above 6062 above 62..

I feel incredibly good about revisiting this region right around 70 and once we get above this 72 area, the current all-time high, when you count like just the normal trading hours. I know it went to 77 in post market, but if you count normal trading hours above 72, i i we're just gon na rip from there. If we get above that uh i mean i think we will be in my. I don't know.

Maybe i'm getting it wrong, but i feel pretty confident about seeing a hundred dollars in the blink of an eye right after that breakout. Once again, these are all intraday targets. This isn't my overall prediction of what's going on. This is for the people out there who can't hang out with me in the live stream all day like okay.

These are the levels we're watching we're looking for this breakout, 60 62, then kind of that 70 dollar price area in terms of support. If we get rejected there, i'm looking for support to be formed around 55 and then we know there's support between 50 and 52. We've seen amc bounce there various times, so that's kind of the setup of what's going on with amc. Now, let's quickly switch gears over to gme gamestop, so very beautiful bounce off of this trend line, that's been formed for here.

Let me zoom out, so you can see it this trend line. I really really like that. Gme has acknowledged it and ever since it started its run up, gme is currently up. 68.

69. I think that's pretty good. I like the balance and i'm looking for the continuation, so i know that gme dropped today, 1.7, but why? I don't think it's that bad is right now gamestop is it's fighting the forces of the fact that we know there's the at the market offering going on the gme leadership team has announced that they're still doing um a 5 million share dilution, so we're kind of Waiting for that to actually be completed on the announcement that it is completed, look for gme to pop. This is exactly what we've seen happen to amc multiple times.

It happened at gme at the end of april right here they announced that they completed it. The stock shot up so we're kind of all just awkwardly waiting around waiting for that announcement to kind of hit the newsstands, and i would bet when the announcement comes out that gme definitely goes green in terms of its numbers. Here. Let me bring this up for you all right, so stored interest 17.26.

There was a net return of a quarter million shares, which means the shares on loan, just under 13 million utilization 55 and, like i said, the short interest in the 1718 range. What i wanted to point out here is kind of similar of what i pointed out with amc is how long they've been betting against us, so they've been in this for 43 days right now, we're about halfway through june. So that brings us to the start of may so, just roughly in this area, the shorts betting against gme are in at 140, 150, 160 somewhere in this range. Once again, they are severely underwater same as amc and, on top of that, they've still been paying those costs to borrow fees so, whether you're betting against amc gme, it doesn't matter they on average in the aggregate have just been hemorrhaging money.

So, on top of the fact that, like just fundamentally, both of these companies are improving, i really like the look of the charts, and i know the shorts are just like clearly clearly underwater the thing that really drives it home for me personally, is just to see The absolute dedication in this ape nation on those days that i myself need to borrow a bit of confidence. I borrow it all from you, the f you guys just get me jacked up every day and i think that's super important to how this actually plays out, because people's devotion to this particular cause. I think it just increases the odds of us being majorly majorly successful, but once again these are just my own opinions. I would love to get your thoughts and a comment below if you enjoyed this video and you want to get it in front of other people who might be interested.

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