This is absolutely incredible. I have a piece of breaking news for you and it's related to gamestop. It was literally just announced that they are going to be asking for shareholder approval to do a stock split, and if you see what's going on in aftermarket training, the apes are excited. I'm going to be going over exactly the details of it.

What it means, what it doesn't mean and how it's impacting not only gme, but some of the other related sympathy plays going on in the market right now. This is downright crazy. Let's get right into it, so for the final trading day of both the month and the first quarter of 2022, the overall market, and also the nasdaq were in the red, and in fact so were both gme and amc. Gme was pretty much break.

Even amc was down four percent, but the exciting news is right here: gme in post market trading, currently at 191, as i'm filming this in real time, it's up almost 15 and then this is on the excitement of the stock split and, as you can see, in Real time right now, amc is also positive up about four percent in, what's referred to as a sympathy reaction, also known as the sympathy play. So here's what just happened. Gamestop shares soar 10 as company plan stock split. So if you don't know what a stock split is basically picture it like this, if you have one 20 bill well, you could convert that into 21 bills.

You still have 20, but in one scenario you have 20 more bills. That's the equivalent of the stock split you're, not changing the market cap of the company you're changing how many shares you have. You have a lot more shares, but they're at a lesser price. Now, this is how it should play out in, i guess theoretical land, but that's not how it plays out in reality, what happens is the fact that it is cheaper and people knew what it was previously.

It has a psychological implication of people, thinking they get a deal, so you tend to see a positive reaction and it also has clear implications on the options market, making options relatively cheaper for what is going on in the scenario. So in the theoretical world it shouldn't change anything, but in reality it does. Historically, over the past two years, uh we have nvidia tesla, tesla again and also apple, that all did it and from the moment of the announcement there was actually a very noteworthy bullish reaction and, as you can see, in post market trading, this is being met with A lot of bullish, dare i say, apish enthusiasm, but this one is a little bit more different and i wanted to get into the details of this. So just so you know this is the sec filing from gamestop today, as you can see march 31st 2022.

This news literally broke like 15 minutes ago, but here's what's a little bit different about this one. So, on march 31st gamestop is asking to request shareholder approval to go from a common stock amount of 300 million to 1 billion, and what they are looking to do is right here in order to implement a stock split of the common stock in form of a Stock dividend and provide flexibility for future corporate needs, so basically, a stock dividend is what you get paid out for holding the stock and, in this scenario, they're looking to add more stock and then for the people who are already holders. Well, that's your benefit right there. This clearly is going to put a lot of pressure on the people, betting against gme.

Speaking of the people who are betting against jimmy right here. The short interest is currently 22, the cost to borrow currently 10.6 utilization maxed out the same. It's been ever since february, 8th this shares on loan 21.4 million, and just so you know the average age of these shares on loan, which is important because that's the necessary step. You have to take to take a legal, legitimate short position.

They've been in it for 66 days, which means just over two months, they've been paying this cost to borrow, which is obviously eating away at their capital, and on top of that, if you look at what's been going on in gme over the past two weeks, we Today we're up 115, but if we are post market trading at 190, that's almost 145. So obviously they are feeling quite a bit of pressure in terms of technicals in the short term of what i'll be paying attention to yes, i'll be watching 160 i'll be watching 182 i'll be watching 192 212 breakout at 2 25 would be a massive breakout, but It's honestly, a tough call because there's going to be clear amounts of action between now and when the market opens on april 1st, so you've got to be. I guess on your toes because i'm expecting a lot of volatility in reaction to this piece of news. Now, let's talk about the one right here, this equity, that's also having a positive reaction, and once again this is referred to as a sympathy play because there's a lot of people in the market.

I'm talking institutions, hedge funds and retails, who happen to treat both amc and gme as somewhat of a pair, because they're both symbolic of the eight movement, so obviously on gme's, clear positive, fundamental news. Amc is also having a positive reaction currently trading at 26, which means it's up 4.5 in post-market trading, bouncing off of the support of 23.65 today i'll be watching 27, followed by just under 30 and then obviously 32.25 and also 34. in terms of its metrics short Interest of 20, pretty low cost, to borrow, which i still think is a bit funky at 1.8 percent utilization of 100 shares on loan of 132.6 million and the average age of these shares on loan is 82 days, which similar to gme is a lot. But amc is actually even 20 days, more so pretty pretty crazy stuff there very very excited.

This is a piece of bullish news. I'm super excited to close out the week. Kick off the new month. Kick off the new trading quarter april.

Fools day is gon na be nuts, but i don't think that this one's actually going to be a joke now very quickly in terms of the overall market. Today we got the gap bill that i've been calling out in my previous videos. You know if this continues downward. I would be watching this level around 451 450 and if that can't hold i'll be watching 446, but obviously, if we bounce off of either of those levels i'll be coming back up to 446 458.

So just calling out those levels for the overall market, but things just got a little hot. I had to take a breather and that's what we're seeing right now. Don't forget that to kick off the i guess final trading day of the week, but the first trading day of the month and also the first trading day of the quarter, we will be getting the unemployment report. This will come out at 8.

30 a.m. Very important to be paying attention to because this could have implications on the overall market because the fed will be watching it and they use this as a gauge to make decisions on their monetary policy. So pay attention to this. We are looking for the unemployment to actually drop to 3.7 and we're also looking for 490 000 jobs to be added so pay attention to that and the final thing we have that.

I just want to share with you in case you're in tilray sndl cgc. Any of that stuff, mj house, formally advances federal marijuana legalization bill for floor vote with praise from pelosi. So i just wanted to share that a little bit of a political update for some of the obvious equities that we all pay attention to. That's what i have for you.

This is mind-blowingly awesome. I'm super super excited. Let me know your thoughts in a comment below if you enjoyed this video. It would be great if you could help me out the algorithm by hitting the like button and don't forget to join up with the moon gang by hitting the subscribe button liking.

Subscribing that type of engagement helps with the algorithm, and this is definitely a video that needs to get in front of other people, because post market training is going absolutely haywire. Thank you. I appreciate your time i'll catch you in the next video have an absolutely bea beautiful day.