What's going on moon gang welcome back to another, dumb money update and on this particular episode we will be talking about the newest barrage of amc manipulation before we hop in the video just so you know, as i'm filming this amc is trading at 33.50. Alrighty! Sorry about this i was looking up some stuff about journalistic integrity and i fell down this rabbit hole, but let's save all this for another time, so the main thing going on with amc. Let me paint the picture for you and it all starts with free guy, which is a ryan reynolds movie. So this just came out.

It was published earlier today. Free guy tops 28 million at the domestic box office and ryan reynolds says disney is eyeing a sequel. So here are the main numbers you need to know: disney's free guy tallied, more than 28 million at the domestic box office during its opening weekend, which was higher than its 15 to 20 million forecast right there. We beat it by 8 million, which is uh almost 50 percent, depending on like what number you're taking there positive word of mouth led free guide is seeing a 24 spike in ticket sales between friday and saturday.

So positive word of mouth. I'd like to think that that has a lot to do with the ape nation and what the community is saying. Overall, free guy had a rare, theatrical only release this weekend and is an original concept with no franchise ties. So i think that one's a little bit interesting, because right now we hear about like the streaming wars and its impact on movies, but right here it - and we had this - i mean adam aaron, the ceo of amc.

He was talking about how they have kind of that deal going on next calendar year with warner brothers, there's going to be a 45-day theatrical release window. So that's positive, but right here i mean theatrical only obviously good for us heading into the weekend. Analysts were eager to see whether fears over the covet delta variant or the availability of films on streaming has caused a slowdown in box office sales. Well right there.

Obviously it hasn't because this one beat expectations. So that's good for really all movie theaters and obviously specifically, if you're watching this good chance. You specifically care about amc, but this is where the story takes a bit of a turn. So, of course, there's always going to be drama over the weekend and then this one came from at wall street cynic and diogenes, and this was a bit interesting from my son about an hour ago.

This was the amc kipps bay to see free guy and right here we had this picture absolutely no one there and then, of course, we have uh. Mr sorry, charlie, fake, pulitzer nominated guy and he jumps right on it because he just hates our community source of mind. Just happened to be taking in a movie at amc, theater in new york city, and not only was he not early and the apes accused. Others of manipulating stocks, so a little bit confusing here source but like he posted this week, because it was a bit weird but overall right away, people started pointing out some discrepancies and i don't know i'm not a detective, i'm not a lawyer but right away.

They people were looking into the photoshop and like this, this was really exploding on twitter. Of, like hang on, the lighting didn't see the same. Some people were looking at the colors of the chairs and all that it there was like too many discrepancies that it just didn't really make sense, which i thought was interesting, because if you look a little bit into diogenes, this is a philosopher and his whole schtick Was he was seeking an honest man, so it's almost. It reminds me of the fact that people are running with the robin hood story, but it seems like they're actually doing the opposite of the actual mythological story of robin hood seems like we have another another case here and i'm just saying it seems i'm no lawyer, But things about this were not adding up.

I implore you check out what's going on with twitter about this and the one thing i guess i kind of want to bring to your attention here. It's twofold. First, i'm going to show you some interesting information, particularly about this account, but before that one movie one show time one theater, that's one data point is not useful, even if this is completely accurate, and this is in no way fabricated, which is still questionable. What does it matter like you're talking mid-day and it's one thing? It's just one data point that doesn't tell you anything about the trajectory of what's going on in the box office at all i mean we just saw it right here.

The report from cnbc was that it beat expectations but anyway, if, for some reason, we're gon na put credence on one individual showing for one individual movie at one individual movie theater. I wan na show you what right here uh mr ryan rig wolf of my street um. He found some very, very interesting information and i just kind of want to use my platform to like give a microphone to his particular voice. But once again, this is his research wow, so wall street cynic, the one the diogenes is actually jim, uh chanos.

I think this was a little tapos here account per sec filing. So this entire conundrum is just a ruse by sorry, charlie and jim. Due to his short position and hatred of amc shareholders um, if this is true this and i'm gon na get into this it - that could be some actual, like legal ramifications to my understanding, but anyway, here's his proof, so he went through and through the sec filings. We actually see right here and i recommend you checking out this twitter account.

You can see that this twitter is tied to mr chanos and why that's a big deal well right here, short seller, jim chano says he has a bet against meme stock favorite amc. So this is where it gets legally interesting, and i want to say this all through this lens that i'm in no way a lawyer. But if this isn't true and he's actively putting out information that he knows is not true. If this is doctored and if it's just not accurate and you're putting something out into the world with that, that could benefit your own position.

That's when the sec and lawyers might step in. Let me zoom in so you can see this, so this is referred to as stock bashing and if true, he would be a stock basher. A stock basher is a person engaging in an illegal type of market manipulation to make the price of an asset fall stock. Bashers rely on misinformation campaigns to decrease confidence in a stock leading to an under valuation of the stock.

In some cases, a stock master may have a position in the asset which benefits from a fall in price. So if this is false, information and diahyogenesis is putting this out there to benefit his own position. This right here it's an illegal type of market manipulation, so uh for me, obviously with this particular storyline as it continues to develop i'll, let you know, but i want to give a special shout out right here to ryan rigg. You can find him on twitter.

Uh. He's been going back and forth and has more information, but overall, what i want to say is one one movie, one showing one theater doesn't really tell you much, it's just not enough data, and even if it did there's a lot of questions about this, i would Not accept this at face value just so everyone knows on, but it does seem like this is the newest barrage of amc, manipulation, uh, very, very interesting and, like i said as it develops i'll, happily keep you updated in terms of amc. I just want to quickly go through the short interest numbers and then also the technicals so most recently, the short interest is around 19 very high, in fact close to its all-time high uh on a year-to-date basis. The highest was 19.64.

So when we have certain people such as rich greenfield saying that the short interest has dried up, that's actually factually like perfectly inaccurate, the opposite is actually the truth of the scenario shares on loan, around 111 million and utilization pretty high at 92.5. In terms of technicals. Here's a look at the daily chart, obviously we're still watching this 3350, but the one thing that i thought would be a little bit interesting for us to look at right here on the bottom of the screen. I have the macd another very common technical indicator.

I believe it stands for moving average convergence divergence and what it is these two lines. It's the it's two different exponential moving averages and i do have a video on this channel that goes in the math and all that good stuff that you need to know about. It but the main takeaway here is a lot of traders day traders swing traders, look for it to cross and when it's, when the slower moving average is going to be below it, the faster moving average on the top you're going to see it in the green And then the opposite is true in the red right here, but, as you could see, as of friday august 13th, we started to bend back around and it's interesting because you don't know how long something will or won't trend, but obviously fingers crossed. This is the start of a new trend.

We were in a bare face. Hopefully this is the start of a new bull phase and for the in terms of technical levels i'll be watching. I wanted to point this out on the daily. Let's go down to the two hour to get more of like the specific price levels that might be of some sort of use for this upcoming week.

Obviously, 3350, that's right where we close at! We want to get above that hold it. The next thing i would personally watch is around 35. We see some resistance. We see some support, some support so around 35 and then, after that, i'd be watching the run up from right before earnings and right during earnings around 38 and then still the major breakout level is between 40 and 42 after 42.

A little hiccup in my prediction. At 46 and then at 50 key psychological level, huge breakout past that so those are the levels of resistance i'll be watching this upcoming week and in terms of support. We know there's quite a bit of support between 30 and 32 kind of scattered and like every 25, every 50 cents in there, but we will also have some support at 27.. I'm not saying that we're gon na go there and we're heading that way.

I'm just pointing out that these are the levels of support and resistance that i'll be personally paying attention to. But overall i do like this. I mean for me, maybe i'm being a little over optimistic here, but we're seeing the macd cross over we're. Seeing some of these things that hey actually people are still going to the movies, we see some things that might drive enthusiasm into the people who are on the fence of the amc trade.

There's a lot of people watching and they're, like maybe they're. Looking for the opportunity to, i guess, like dip their toes in the pool - and i think, as we see the technicals turn around as we see some exuberance being reported like hey movies, are even doing better, i mean that could prompt a very positive windfall. So, overall, that's the update. I have for you obviously very exciting going into this upcoming week, i'm hoping that we see a return of some some volume, some volatility.

But overall i just want some more excitement, but i really just wanted to let you know what was going on with this story: line between diogenes, sorry, charlie and then jim right here and if it ends up, it could be depending on. If what he put out there, if it's false - and he knowingly knew it was fault to me - that is the definition of a stock basher which is illegal. But overall, i would like to get your thoughts in a comment below. If you want to help me out the youtube algorithm, all that good stuff, the engagement really helps like likes, subscribes comments.

All that stuff does help get this video promoted to other people who might be interested and other than that until i catch you later from me and chair best of luck in the markets, you.