What's going on moon gang welcome back to another dumb money recap now the training month of july is officially in the books. So it's a perfect time for a very quick recap of our two favorite moon stocks, amc and gme, and then we'll be doing a quick rundown of what we have to look forward to in the month of august. So, to close out the day the week and the month, amc was at 37.02 and jimmy was at 161 12. in terms of the overall market.

On thursday july 29th, it did manage to hit a new all-time high. This is the s p 500 index tracked by the etf spy s p. 500. It's a basket of 500 of the biggest stocks in the us, and this particular etf spy is one of the many etfs that track this overall index.

I like to pay attention to it, just because it's thought to be a good barometer for the stock market at large. So anyway, on thursday july 29th it did hit a new all-time high and then on friday, it managed to find support at the previous high from mid july right in here, but it seemed to bounce right off of right around 4 38. So personally seasonally. We know that august is more of a flat month, so for me i'll be looking for a little bit of a chop and depending on what our government does or decide not to do uh, maybe potentially even a bit of a melt up.

I'm sure you've heard that term quite a bit now in terms of crypto ever since july, 26th, crypto at large is looking pretty good. I mean bitcoins going from 35 000 right now, holding on to 41 000 ethereum's, going from 2000 up to 2600 700 doge has come from 19.5 cents up to 21 and then cardano is going from 1.20 up to a dollar 35. So, overall, yes, crypto's been a little bit quiet, less people talking about it kind of potentially the con before the storm. So i'm very curious to see if it can continue this momentum.

So that's kind of just your very quick overview of what's going on in the market at large. Now, let's switch things up to talk about amc before we get into the charts, let's do a little bit more of the fundamental stuff, so we know that on july 29th there was a the annual shareholder meeting and adam aaron. The ceo of amc did have some comments and there was one important thing i wanted to address. There was a little bit of a misconception, in fact, let's just take his word for it so much fun going around on the internet, like that our shareholder meeting was closed, doors or secret, simply wrong.

It was open to any shareholder and all president were invited to speak on ballot issues and asked questions. All election results have been published publicly. So if you want to check this out, you could go to the amc investor relations and if you look at their most recent 8k from july 30th, they did post the results of all the votes. So if you want to check that out, you can see the votes uh, the four's, the against the abstain, all that good stuff, if you want to check this out, but once again, that is on the amc investor relations page, look at the most recent ak.

The other thing i want to touch on here - and i think this is important because it's obviously an important issue to the amc investors and really ape nation at large. Many of you continue to be concerned about the amc share count in early june very early june. Like the date of record was june, 2nd uh, you had to own amc, shares on june 2nd to be able to vote in the shareholder meeting, and that's also the date that they use for the share count that related to this particular voting session. But anyway, in early june, we announced an all-inclusive share.

Account total of 513 legally issued shares. Sorry 513 million legally issued shares the reason i'm reiterating. That is because i think he went out of his way to say legally issued anyway, precisely zero new shares have been issued by amc since then as to the existence of so-called fake or synthetic shares, or the naked short selling of amc shares. We are unaware of any information validating these theories.

Also, we are unable to make any comments on the considerable training of puts, slash calls derivatives a couple things i want to share here. Actually twofold. First of all, this sounds like a lawyer had to help him craft. This like uh, what's that legalese like he had to speak, he can't throw out theories.

Like i mean, there's a sec wall street. A lot of people are looking and scrutinizing every single one of these tweets. So without hardcore evidence he can't really say anything and beyond that, even if he had hardcore evidence think about this. If there is a particular legal undertaking going on you don't show your hands, you don't say hey.

We found this like because the person who's doing the illegal illicit act. They know you're on to them. So this to me, it sounds like a lawyer was kind of over his shoulder quote-unquote over his shoulder as he was writing this, and even if they did have particular evidence and the sec we're currently looking into it. You don't announce what you know or what you don't know, because that's giving away kind of your upper hand.

So that's just my quick commentary on that. Also on august 9th is our next quarterly earnings call just so you know i will be live streaming. This there's going to be a webcast, so i'll be live streaming it. If you guys want to watch it as a community.

We will be webcast, so you can listen for the first time ever we will take questions from individual investors on the call uh there. Here's a link i tweeted this out, so if you want to check it out, but it's adam aaron's, most recent tweet. So if you have questions to put in there follow this link, i think it's very cool to me. In my opinion, it's just another way in which particular to the amc community that our voices are being heard.

Speaking of this, let's check out what's going on with ortex, so to start friday off, the utilization was 91.63 over the week. We definitely saw this number slowly. Tracking upward shares on loan once again above 100 million shares shares on loan. Remember that's not exactly the same as short shares, because you have to take them out on loan and then you short in the scenario that you actually want.

It short uh, so not exactly the same thing, but yes, they are highly correlated. There was a net return of 951 000 shares. It's it's an okay number, like we've, seen bigger numbers in amc and right now. The short interest is above 15 at 15.21.

So, overall, that would put the shares on loan still right, around 100 million, and i just wanted to point out that both the short interest and the shares on loans slightly tracking upwards, especially since mid july, just kind of slowly grinding up and what that means. For you watching this, the general takeaway is the shorts. The money, betting against amc is getting bigger and bigger and bigger, and what that does why that's important to us is as long as they're really not beating down the price. We we want to take that, because, as the shorts are getting more and more sizeable, that's raising the proverbial ceiling uh in terms of just the short squeeze of how much it could go, because it really directly relates to how many shorts are going to have to Cover their position when the stock absolutely rips to the moon.

Now, let's take a look at the chart overall, not much movement since july 22nd, just kind of grinding sideways, definitely in a period of consolidation, it's very normal in the stock market to ebb and flow between consolidation expansion, consolidation, expansion right now, obviously we're in a period Of consolidation and we're waiting for that next phase of expansion to start and obviously knock on wood, we're looking for the expansion to be in upward direction, but overall, not really much to do in terms of a technical breakdown right now, because the stock has just been Grinding sideways and we're kind of seeing similar stuff with gme a little bit different, though here let me just zoom in here why it's a little bit different! We do have a double bottom scenario: amc isn't at that right now, because the double bottom would be more closer to the low 30s, while gme is at the double bottom, around 160. So clearly, right now an important region of support, we're going to be watching that and then we have additional support uh there is that key psychological level at 150, and then we also have 145.. So if we get a bounce here, the next thing i'll be looking is first 175. We did see some previous support there also key psychological level and then, after that, i'll be kind of watching 180 to 185 and past that we have 200.

in terms of the ortex numbers for gme utilization 40 shares on loan 8.17 million very interesting, huge jump in The shares betting against gme on friday, like a very sizeable jump, we started off the day at let's just call it 8 million and we saw a 12 increase. It jumped up by a 1 million shares, so the short interest is now 15.63 percent shares on loan. When you take this into account, definitely over 9 million uh, i wanted to bring this up just because whatever was going on friday, the bears got way more bearish and a lot of money being bet against gme um. I think that this could end up leading to more volume, more volatility because same thing, low low volume not really much going on, but we're starting to see a pickup in the action.

So i think the same thing applies of periods of consolidation lead to expansion, we're just trying to wait and see which direction this really expands into. But overall for me - and maybe i'm being - i guess naively optimistic. But all i see and i'm speaking for eight nation at large uh what i'm seeing on amc and gme and yes, this is just anecdotally, but the community is just growing. I mean i see, concern that some of your favorite - i guess social media personalities, content creators are stepping away or something like that, um personally, that's not what i'm seeing.

That's not how i'm interpreting it right now, it's just one of those things that many many of your favorite creators and writers or whatever we want to call them. Sometimes, if there's nothing going on like you, you don't have to just make something for the sake of making something uh for me. I could really only speak for me, i'm not going anywhere. I mean it's just if there's something going on to speak about and to keep everyone informed of the current actions with amc and jimi.

That's what i'm here to do. I love talking about that. I love these stocks. I just want to make it clear that i'm not going anywhere and i think some comments and videos and just general statements are being a little bit misconstrued.

I don't really see any of your favorite creators quitting on you at all. It's just more of like okay. If there's not much to talk about like well we're gon na take that into consideration, but i don't see anyone quitting on the community or anything like that. But for me the only person i can really speak about - i'm not going anywhere folks, i'm still here to talk about amc and gme, because i absolutely love ape nation.

The best thing i could sum this up with is the jordan belfort uh leo. I guess that thing from wolf of wall street of i'm not leaving, and i think many people within the community are of the exact same mindset of we're not going effing anywhere. So overall, that's the weekend and monthly update. I have for you on amc and gme.

Would love to get your thoughts on both of these stocks in a comment below, and you know about all that good youtube, algorithm stuff, and until i catch you next time from me and chair best of luck in the markets, you.