Oh golly moon gang, we have a lot of hot tea to go over. This is dumb money, i'm matt and i want to get right into it, because we have a lot of important things to unpack. Yes, amc did close out the day today june, 9th at 49 34, but as you're about to see, that's hardly the important thing we need to discuss, because a lot of things came out today that i think are going to get you pretty excited. So with that type of amazing lead up, let's hop right into it, so this was released by the amc leadership team.

Today, their press release - you can find this on their website and we got more information about the shareholder count. So we previously knew in early june that, as of june, 2nd, there was about 502 million shares outstanding. Remember, shares outstanding our shares in existence. Well, we have new information out of those 502 million shares, there's about 4.1 million individual shareholders and don't forget that the next shareholder meeting is july 29th.

And if you own shares on the date of record, which was june 2nd, you will be able to vote as early as june 16th. Now, with all that being said, here's the interesting line. I really really want to bring to your attention once again. You can find this yourself feel free to fact check me.

It's on the amc's website, right here under newsroom, more than 80 percent of amc shares are held by a broad base of retail investors, with an average holding of 120 shares matt. Why does this matter? Well, let's hop into a little bit of math, and just so you know this isn't my own math, but i want to share it with you so right here. If you look at it, amc at the current price total shares 502 million. When you look at retail major holders and insiders short interest and insiders looks like we have a hundred and seventy four percent ownership, you know me i'm just a data guy.

I just want to present the data to you and i would appreciate it. You could just draw your own conclusions, but man, i i think it's a bit weird - that we have a 174 percent ownership, absolutely crazy and i don't know. I think this is we're at the level where it's worthwhile, that for a i don't know, let's just let's say that there was a some sort of government entity for i'm just going to come up with a weird acronym right now, let's call it the sec. I don't know just i picked three random letters, but i would think that it's worthwhile to look into a 174 percent ownership kind of interesting worthwhile for them to look into it.

And once again you could take your own conclusions from this data and a special shout out uh man, where did that go that was posted by joshua, that that's not my own graphic i'd want to give that i'll, post his twitter below. So you could check it out. I seem to have lost it. Another interesting piece of juicy data came from ortex today, shout out to oratex they've had the apes backs, and i want to dive into this.

They tweeted this out today for may 28th. The exchange is reporting short interest in amc at 102.3 million shares. This is larger number than expected. It indicates a higher than anticipated short interest in amc.

The unexpectedly high short interest implies that the shares returned in this period were atypical, not shorted, shares, but instead shares that were borrowed and not shorted. In many of my videos, i try to remind you of this, of we have up-to-date information on the shares on loan, but just because they go on, loan doesn't mean that they were actually shorted. Yes, they're correlated, but it's not a one-to-one ratio. There is some leeway and the leeway that ortex was giving was it was kind of too big, and i can show that graphically in a second or text will update the estimates tomorrow, based on the latest exchange release data when they release this tomorrow morning, depending on When you're watching this and june 10th, when they release it around 7 7 30 in the morning, i will make sure to tweet it out from my account, but here's actually what's going on.

So basically, today the the data was released today, but it was valid information on may 28th. So if we check that out the exchange reported short interest was 102 million shares. But at that moment in time, ortex their machine learning model, their data analytics model was estimating 85.5 million, as in they were underestimating it by a rate of 20. So now, because they were off by that much like previously they've been spot on it's moving every single day.

It's a very dynamic system, sometimes they've been spot on other times, there's a bit of a leeway and that's what we're seeing before. They overestimated it and their calculations kind of went a little bit too much the other way. Basically, they weren't expecting for such a large amount of shares to go on loan without actually being short, so the mass return that we've been seeing recently we're not short shares as in the shorts, are still in the play. The the shares return.

I will repeat that so i can be crystal clear here. Many of the shares that were on loan and returned were not actually short against amc. That is very, very good news for the eight nation, so tomorrow, when this updates, i will tweet out the new short interest so right here it is showing 11, but this is an underestimate of what's actually going on and right now that actually utilization can be. This is accurate 82 because that's just shares on loan that doesn't relate to share.

That does not relate to short interest. Excuse me, and so we're going to see the estimate. So, overall, not only do we have kind of some weird indications of what it means to have 170 plus percent ownership, but on top of that today we are actually seeing that the main data source we're using to get the short interest right here. It's gon na go higher tomorrow, so overall, it's an amazingly good day to be in ape, and one thing i just don't want you to forget about right here that i could bring up.

Look how long they've been in this every single day, these shorts, the hedge funds, betting against amc, are clearly clearly hemorrhaging money. They have been in this for almost two months. So if you look back at the chart to see where that was that was so long ago, they're clearly underwater. Yes, of course, there are some new shorts that might be up on the position, but overall, the majority of sharks have not only been paying the cost to borrow fee, but on top of that, just the position as a whole is clearly underwater, and on top of That we're just discussing the legal legitimate reported shorts.

This has no indication of what's going on with the illegitimate illegal naked shorts. So the way i look at it, i think it's easiest to like perceive this situation in this way. If you look at the trend of the chart, the fundamentals of amc and the data provided by ortex - and you like the situation in terms of like yes, i still feel comfortable with the short squeeze. That's awesome because, when you then add on naked shorts, that's just the cherry.

On top it's better, i would view the current situation of what we know. That's like accurately reported to us to be the conservative estimate, and if you like that situation, it just goes up from there. It's awesome awesome awesome. So, in terms of the chart, this is the daily chart remember over the past month, amc is up 406 and ever since we really started this rally on may 21st, we are still up over 300, so over 300 ask yourself after rallying 300.

Do you think it's? Okay, to take a 21 healthy correction - personally, that's okay in my book, because i understand how incredibly insane this run truly was so it's okay, you, stock market, it loves to expand, consolidate, expand, consolidate and that's exactly what we're seeing it expanded we're now consolidating and in Fact you can actually see how perfect this consolidation has been a couple of things i want to point out here. This is amc's 30-minute, chart huge expansion, and now we see this symmetric triangle lower highs, higher lows: the fact that the stock isn't really trending. That is a classic sign that it's just consolidating. We had a massive expansion, lower highs, higher lows now consolidating we are perfectly in this wedge in fact today, one two three, our fourth hit off this bottom wedge and also previous technical support, and on top of that the rsi is getting low.

Don't forget: rsi relative strength index, it's one of the most popular technical indicators and it just oscillates between 0 and 100 when it gets very low below 30. That's a lot of bearish momentum. It's considered to be oversold and then the opposite is true above 70.. So, basically, not only is there technical support at the price level of 45.

We have this wedge and now it is oversold so from a technical perspective, a data perspective and a fundamental perspective. I am insanely confident in being an ape right now i am insanely confident so what i'm looking for moving forward just in the short term, like what i'm going gon na be personally looking for tomorrow, is a bounce and a test once again up of this next Price level around 52, which could potentially align with the top of the wedge after that, i'm looking for a wedge breakout and the next major test would come at 60, where it's been rejected a couple times before: rejection consolidation and even support back here on june, 2nd. So these are the measure price levels i'll be paying attention to tomorrow and for the remainder of the week with all that being said. Yes, these are my own opinions, i'm not a financial advisor, i'm not a fortune teller.

So please do your own due diligence i'll make sure to post the links in the description below. So you can see the same resources that i am personally seeing, but i would love to get your thoughts and if you enjoyed this video, if you want to help me out with the youtube algorithm, it would be appreciated if you comment like subscribe, if you want To be a member of the moon gang, it just helps get this video in front of other people who may be potentially interested, and until i catch you next time. For me and chair best of luck in the markets, you.