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Amc shareholder meeting cancelled?!?! amc gamestop technical update – Matt Kohrs

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AMC Shareholder Meeting Cancelled?!?!
AMC & GameStop ๐Ÿ’Ž๐Ÿ™Œ Technical Update
Let me know your thoughts on AMC & GameStop in a comment below!
https://investor.amctheatres.com/newsroom/news-details/2021/AMC-Entertainment-Holdings-Inc.-Reschedules-its-Annual-Meeting-of-Stockholders-to-July-29/default.aspx
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Video Topics:
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

What is going on moon gang? I hope that you're having a good one, this video will be your daily wrap-up for both amc and gamestop. We do have a very important fundamental update for amc and beyond that we'll be going over some of the short interest numbers for amc, gme and then at the end, we'll also be doing a very quick technical breakdown. So, let's hop right into that first, i do want to show you this funny thing that was on twitter today. This is from the postman uh in new york city.

Someone was flying this around today it was an airplane. I mean this just cracks me up. Amc to the moon, awesome absolutely love it. I i just think it's so hilarious.

I mean this type of stuff, even though, like obviously it's humorous, it's funny. This shows the passion for amc and anytime. We see more passion to me. That is, increases the likelihood of this stock going sky high, absolutely love to see things like that.

Not only is it funny, but to me it's it's further proof that this fight is nowhere close to being over. It's actually very, very important all right. So with all that being said, let's go into what happened today. I am filming this after the market has closed on.

May the 4th, may the 4th be with you and today there was supposed to be the annual shareholder meeting and that was actually cancelled. Here's the post from amc, amc, entertainment, reschedules, its annual meeting to stockholders to july 29th, so kind of here's. The main details you need to know. Amc today announced that its board of directors has postponed the 2021 annual meetings of stockholders that has previously supposed to be held today.

The j change will provide additional time for its millions of current individual shareholders to have its voices heard and more time to cast ballots on important shareholder matters. The annual meeting will be rescheduled for july 29, 2021 and a new record date of june 2nd. Basically, that means like, if you want to vote vote on the current proposals that will be kind of like what they're going to be hearing to. You will have up till june 2nd to vote on all the new proposals and has been established for stockholders entitled to attend the vote and the meeting the company will deliver a new notice of the annual meeting to stockholders as of the record date.

Who will need to resubmit their votes even if they already have previously voted? So this is important for a couple reasons. Overall, the shareholder meaning did not happen today. Is that good or bad honestly, i kind of think it's a good thing and bullish for us? I don't think there's any reason to panic. You do need to revoke.

That's like the main thing i want to get across you. If you voted for the shareholder meeting that was supposed to take place on may 4th. You are going to re-vote. Your vote is not counted like you're gon na have to resubmit that that is very, very important so with that out of the way overall, what's going on so they're saying that it's providing for additional time for millions of current individual shareholders to have their voices heard, I do believe that they're trying to do that, but beyond that, if we think about it for a second, a lot of the votes cast up for this shareholder meeting that was canceled was almost done under duress like there was a lot of fun a lot of Misconceptions have gone on that the shared illusion.

I mean i've spoken about it many many times. I think a lot of the previous votes were cast almost like, inappropriately without the proper amount of information. So i think, and also beyond that, there's a lot more people involved in amc now think about how much the community has grown. So more people i mean even me now i even own more shares so like more shares that, like people have people have been expanding their portfolio in amc, so they have more voting power, and now we have more accurate information of what's going on.

I think those are all pretty obvious, like invalid things, beyond that, i think there is a chance that perhaps amc is looking at the opportunity of. Maybe the squeeze will happen before june 2nd. So if it does happen by then, then they could put the shared dilution back on, so they can better battle like debt in the future or acquisitions or whatever they want to use those new shares for so maybe they want to put it back on the slate. If the squeeze happens to occur before june, 2nd other than that remember that the share recounts are done by private companies, maybe there was a huge issue with trying to figure out, like the amount of shares synthetic shares, all that there could have just been like logistical Issues getting the share count figured out.

I think, there's a couple reasons, none of which strike me to be negative. If anything, i think they're neutral or leaning towards positive. So please don't let this scare you in any way, but do remember this thursday. After the market closes, may the 6th there will be amc's earnings announcement, basically we're going to figure out how they did in the previous fiscal quarter and really they will have some comments on the previous fiscal year.

So, on top of that, we want to know how they're performing more important to me is knowing, if they're going to offer any guidance looking forward and also if they have any commentary on, what's going on right now, basically with us apes, if i can get a Spot in the webcast i do plan on fully i fully fully plan on live streaming that earnings announcement. If that's something you want to listen into, but remember that's thursday after the market closes fundam like fundamentally, this is a big driver, so i wouldn't be surprised if we see abnormal amounts of volatility in the market related to amc this friday friday, following the earnings announcement. Please please keep that in mind. So with that being said, let's dive into the short interest numbers and really all the other related numbers for amc.

So today to start the day off, the utilization was 100 and then we saw we. We broke a pattern over wednesday, thursday friday monday. We saw a net return of shares. Today we broke that pattern.

There's been a net increase, 1.3 million additional shares went on loan. Does that mean that they necessarily went short into the market? No, but if you saw the price action today, there's a pretty good argument that they most likely did short short these shares um. Beyond that the estimated shortened interest right now the free flow is 22.87. The dates to cover is 3.29 days, and i do want to offer a quick little bit of commentary related to costs.

To borrow, i got a couple comments about this on the live stream today, so the cost to borrow from tuesday april 27th up until now, has dropped from 25.62 percent until 14.34 percent going down. Remember, oh, say: casa borrow that's not what these shorts are paying a fee per day. That's it's an interest payment based on a year like if you were to short amc for an entire year. That's the interest.

You would pay. It's been going down only because of this cost to borrow is supply and demand how many people are trying to short the stock and how many shares are available, like that, are willing to be lent out. It's literally supply and demand and if there's a high high demand and a low supply, it's considered hard to borrow and that's when you see the cost of borrow go sky high. That's all it is it's nothing else.

It's supply demand how many people are trying to short amc and how many shares are available to shore well, really to be lent out. That's all cost to borrow. Is it's been going down recently because we did like momentarily see a dip in the utilization below 100 and that just shows that it was lightening up a little bit, but now honestly we're back to 100. So i wouldn't be surprised if, after today, we see to start like kind of pull a u-turn in terms of cost to borrow and spin back around, because it's still going to be defined as hard to borrow.

This is actually a very high cost to borrow rate um, but that's all it is. It's supply demand. How hard is it for these brokers to track down shares for the hedge funds, the more difficult it is, the higher fee they're going to pay, and that's all for amc in terms of gme? There was a net return today of 136 000 shares to start today off the utilization was 59.93. I would suspect that it's going to slightly drop when ortex updates in the morning and right now, the current short interest of the free flow is 23.22.

Both of these amc gme their short interest, essentially the same and they've, been coasting at these values um, but just remember the longer we remain kind of in this realm. These hedge funds are paying a fee every single day to keep these short positions like if the stock is going up or even sideways. I very much chalk that up as a win for us because they have to pay a fee for us. If you own shares of amc of gme, it costs you nothing, you own.

The shares you're just sitting there for them to continually swing this short position literally every day they have to pay a bill for that. So please please keep that in your mind, but overall gme short interest: 23.22 amc 22.87, pretty similar to each other. So before we hop into the technicals i just want to bring up. This is the s p 500 in etf.

That essentially represents the overall stock market. Today, it did come close to breaking down below this trend line, as you can see, it bounced pretty nicely off of this um. If you have any interest in the overall market, this morsel relates to yellen. There was a lot of suspicions that she would offer commentary about increasing interest rates and then midday closer to the end of the market.

She actually said that she plans on. She has no plans of that nature. She's not planning on making any remarks about increasing interest rates, and then we saw the stock market start to bounce from there. I wouldn't be surprised for the remainder of this week and going into the next week if we continue this trip upward.

But if we don't, please pay close attention to this trend line and below that watch. This blue trend line this these four days of red right here that we've kind down. If anything, it's allowed the rsi just a chance to cool off opening up more range. For this, the overall market to push higher, that's where we're standing in the overall market.

Now, let's talk about technicals for amc, so amc closed out the day at 9 39, which was a drop of 3.3 percent couple things to point out here. First of all, the rsi on the 30 minute time frame severely severely oversold. We can tell that, because in the rsi right here it was below 30 for the entire first half of the day, and it's kind of been very low for multiple days. This statistically means that there's a favorable chance of it bouncing and beyond that, i'm personally even more excited if we can break out above this trend line - and we came close to it right at the end of the market today.

But no such luck so tomorrow. This is exactly what i'm looking for, i'm looking for a breakout of this trendline and then a test of the region of resistance between 975 and kind of 10, 10. 10. 15 in this region.

I think amc could struggle in this region, but once we get on the top side of that, it does open up the door to 10, 50 and then 11.. So my game plan for tomorrow, when i'm watching amc, break out above this trend line, then i'm closely closely watching how the stock reacts to this region of resistance 975 to 10 15.. If we get rejected in this region or by the trend line, i do think there's a considerable region of support between 880 and nine dollars, which is also a key psychological level. If we get here i'll personally be buying more amc, all right.

Let's talk about gme a little bit of a different story, kind of a different looking chart, but the same general thesis of hey the rsi, severely oversold good statistical chance of a breakout um breakout about. I mean that we broke out above 160, which was previously resistance. So we're above that, if we can quickly capture 164, when the market opens i'll, then be watching 170 to 180. That is another region of resistance for gme, above that that then opens up the door to 200..

If, for some reason it gets pushed back down, i will be watching not only this trend line, but the support and key psychological level at 150.. That is my game plan for amc and gme tomorrow on may 5th. I would love to know your thoughts on amc and jamie, both in a comment below more specifically. Let me know what you think about those technical levels, and on top of that, let me know what you think about this amc shareholder meeting getting postponed to me.

It's not that big of a deal. If anything, i think it has a slight bullish connotation, but i'd love to know your thoughts in a comment below. If you enjoyed this video, i would appreciate it if you could draw drop a like leave. A comment hit that subscribe button.

All that type of engagement really does help me out with the youtube algorithm, and it gets this video in front of other people who might be interested in both of these stocks until i catch you next time. For me, doctor and chair best of luck in the markets, you.

25 thoughts on “Amc shareholder meeting cancelled?!?! amc gamestop technical update”
  1. Avataaar/Circle Created with python_avatars Lamont Barnett says:

    Can someone teach me how to invest? If you have discord that would be great. I was there during the GME era. TY

  2. Avataaar/Circle Created with python_avatars My Financial Friend says:

    Saving your money and investing it into stock market will be the wisest thing to do to ensure success

  3. Avataaar/Circle Created with python_avatars christian arce says:

    I have 40,000 shares of amc first scammer that reply this comment as Matt will get my shares ๐Ÿ˜ฝ๐Ÿ˜ฝ๐Ÿ˜ฝ๐Ÿ˜ฝ

  4. Avataaar/Circle Created with python_avatars Chemistry_bro says:

    Gona need to bring some kiddy pools to the moon for our ducks to swim in.

  5. Avataaar/Circle Created with python_avatars Lex Nolast says:

    This guy been talking about a squeeze for 3 months lol all he squeezing is views from you amc ainโ€™t done shit but go from 9 to 11and drop / itโ€™s worthless to talk about the same stock that doesnโ€™t do anything all day

  6. Avataaar/Circle Created with python_avatars Steve Cooke says:

    Quite a lot of International Investors are unable to vote, which automatically counts as a 'no' vote. AMC needs to address this.

  7. Avataaar/Circle Created with python_avatars Protonz says:

    Just a quick thought. Correct me if I'm wrong but if the squeeze was between now and then, and we sold our shares during the squeeze, we wouldn't be eligible to vote for the next shareholders meeting.

    Unless of course the squeeze happened before the record date (June 2nd?), and we were able to buy back in before then.

    So if the plan is to reintroduce the 500m share dilution then maybe they know that something is happening before the record date?

    Just a thought. Counter arguments always welcome.

  8. Avataaar/Circle Created with python_avatars James Cotton says:

    Brilliant move by AA.. the game is a foot.. heโ€™s truly a brilliant Ceo and is in the fight of his life to out play the short sucks ๐Ÿ’ช๐Ÿ‘๐Ÿ‘๐Ÿ‘๐Ÿฆ

  9. Avataaar/Circle Created with python_avatars Tomee333 says:

    Technical question. If we all hold and at the top of a squeeze and then we all want to sell at the top then whoโ€™s buying? How do we collect some profits? Iโ€™m new at this and of course Iโ€™m holding. ๐Ÿ™‚

  10. Avataaar/Circle Created with python_avatars Foodstamp Amp'd says:

    Q: When are we mooning?
    A: It's irrelevant because we HODL!

  11. Avataaar/Circle Created with python_avatars Glenn Rosen says:

    Hi Matt. Thank you for the update. I think AMC is severely oversold and is going to trend upward slowly for the next week. It may bounce off the opening but should be a green day! Buy your options or stock early if at all! As you can see I'm bullish on AMC๐Ÿ˜€

  12. Avataaar/Circle Created with python_avatars Ljeezy45 says:

    Come on guys…..COMPANIES rarely reschedule earnings for a goodreason, Google it. The reason they canceled the meeting is because earnings are HORRIBLE! If they had great news they would do What you call "surprise earnings" Which would mean they did better than expected in this case obviously they did worse! Expect a Little pop here and there, which "IS" the short covering. THERE'S NO SQUEEZE GUYS…GET OVER IT ALREADY ๐Ÿ™„

  13. Avataaar/Circle Created with python_avatars Glenn Rosen says:

    Thank you for the update! Adam moved the meeting to July knowing with more theaters fully opening and blockbuster movies coming out and many other good things to talk about. This is the catalyst AMC needs to leave the hedgies in our dust! Adam also made the HF's waiste a lot of ammo thru Tuesday๐Ÿ˜€

  14. Avataaar/Circle Created with python_avatars Steven Smart says:

    Bitcoin is the future invest in Bitcoin now with a professional broker and see your life change financially

  15. Avataaar/Circle Created with python_avatars Eric Fendt says:

    My theory. If it squeezes before July 29 he can put the 500 million shares back on the table. Adam wins 3 times. 1. Squeeze 2. 43 million shares. 3. 500 million shares.

  16. Avataaar/Circle Created with python_avatars Kenzi Ellis says:

    Matt talks like the South Park characters from that San Francisco Episode. Ha ha ha.

  17. Avataaar/Circle Created with python_avatars Danny Burke says:

    AMC shareholder meeting delayed to July 29th. Amazon releasing earnings July 29th. ๐Ÿค”

  18. Avataaar/Circle Created with python_avatars PRO MAGOO Travis McGill says:

    They wanted to see how many votes to shares now another test there is going to be 170% votes to share ratio

  19. Avataaar/Circle Created with python_avatars bowlmeoverva says:

    Canceling share holders meeting helps our case. Keeps us on the front pages. ๐Ÿ‘Š

  20. Avataaar/Circle Created with python_avatars Jon Ray says:

    Never thought I'd see Ducks on the MOON, but here we go

  21. Avataaar/Circle Created with python_avatars BlackDog says:

    We have to control the float. Apes have been buying and holding since January. These fake shares are only going to last so long.

  22. Avataaar/Circle Created with python_avatars Christine Snyder says:

    Investing is how you create wealth,I started investing from pandemic crash ๐Ÿ‘

  23. Avataaar/Circle Created with python_avatars Fezzant says:

    The is great news – I wasn't able to vote on today's meeting as I bought into AMC after March 11th, hopefully ill get a vote this time.

    edit: Also this roundup format is great.

  24. Avataaar/Circle Created with python_avatars Kate Hayley says:

    It requires money to make money. this is the best secret I have ever discovered we don't make money, we EARn and MULTIPLY money

  25. Avataaar/Circle Created with python_avatars Gordon Nash says:

    It's a trick bag! Didn't like the answers they were given the votes didn't go their way so they want to have a re-vote lol. Would it be funny if they tried to pull the 500 million share dilution again then.

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