What's going on moon gang, i hope that you're, having an absolutely fantastic day, welcome back to another dumb money update for today, tuesday august 3rd amc closed out the day at 33, 59 and jimin closed out the day at 152.75 in terms of the overall market. This is the s p. 500. Remember that's an etf, an exchange traded fund that tracks 500 of the biggest companies in the us, and that's why it's thought to be a good gauge for the overall market, anyway, very, very close to making a new all-time high.

Today my assumption moving into tomorrow and the remainder of the first week of august, i do expect us to melt up and i'm i'm very much expecting a new all-time high in the pretty near future. For this one. Today, this update video - i do want to kick it off with jimmy before we get into the daily chart. I kind of want to show you something interesting here.

The last couple minutes of the day was absolutely insane in gme it went from 149 up to 159. Essentially and then came back down to 152, currently trading at 150 to 30., we did get this alert from binzing close to the end of the day. There was a block trade for over 750 000 shares, which is bonkers for a stock. That's trading at 150 right like that, is so much money and that's what happens when you do an order of three quarters of a million shares.

You get a giant giant run-up and huge volatility, so i just kind of wanted to quickly lay out. What's going on there huge block trade in terms of its daily chart, unfortunately, today and over the past couple days, really we've been selling off and it broke through the key psychological level at 150, and when i saw that i thought we were going to come all The way down to the next support around 145, but instead, at the end of the day, the market was rallying, various stocks were rallying and at the end of the day, we had that huge block trade on gme and it kind of popped up. This is starting to make me think that the rsi is getting oversold. Maybe people are seeing this technical support from the rsi perspective.

It is the bears are going to most likely be running out of momentum. If i had to guess, maybe someone knows something that we don't know and they're kind of buying it early and i'm looking for a reversion. Obviously i want this breakout of 164 and then i would love to see a test of 175. in terms of the or text numbers today, not really much going on 300 000 borrowed with a net borrow of a hundred thousand.

The short interest on gme gamestop is 15.35. I got this question a little bit today, so i just want to share it for both gme and amc. The average age of shares on loan betting against jimmy, which is what you have to do to take a legal short position, is almost 29 days, so they've been in it paying this cost to borrow fee. Obviously, every single day utilization 43 shares on loan now probably pushing once again 9 million um.

So now with gme, that's what's kind of going on there. I want to dive a little bit more into obviously amc and what we're seeing, but i want to cover something pretty important. So, let's let me quickly go through the daily chart here gme. It is now at support that we've previously seen in early early june and also this region in mid-july, it looks like we might be setting up for a double bottom, a george w, whatever you want to call it, but we are at support.

We also have support really in the region from 30 to 34., so i'm hoping fingers crossed knock on wood, a bounce from this region and then the final leg of the overall george w, and hopefully this is what leads to a crazy explosion to the upside. In terms of specifics, i'm looking for amc to stay above this 33.50 and i'm looking for it. Well, this whole region of support, as i just said, but the next major support would be between 31 and 30, but obviously i'd prefer just bounce off of here and then come back up and test this region between 40 and 42. in terms of its numbers, there Was a decent borrow and a decent return on it today, 1.1 versus 919 000 with a net of 175.

The short interest is 15 utilization still over 90., and then we have the shares on loan, probably pushing 98.5 million uh in terms of the average age of the shares on loan. How long they've been out we're actually increasing we're at 41.5 days and, as you can see ever since late june, all this has been doing is going up and up and up, which is telling me. The shorts that got in in this region in mid-june are still holding um and we're getting to the point where, as we track back upwards, their positions, if it was taken in mid-june and obviously this is an average. So that's just an if, once we track back upwards they're going to go from being in a small profit to neutral and then eventually to underwater, so i'm based on this metric.

I want to see what happens upon that key breakout at 50, because i think that's where a lot of these june shorts are going to start to feel a lot, a lot of pain now. The main thing i really want to dive into here is kind of an important fundamental thing going on with amc august 9th is our next quarterly earnings call. This is from the ceo of amc, adam aaron. We will be webcast, so you can listen.

Obviously, i will be live streaming that so we can all listen to it together and i could give you live commentary for the first time ever we will take questions from individual investors on the call. Here's the link - and this is from say, technologies - read smart questions. So far, so when i saw this, i was talking about it on stream and i didn't think much of it and then someone - and this is not me at all - i did not come up with this. In fact, i was a little late to the party of what was going on.

This is not my. I did not come up with it, but some big brain person out there. I tried to find it on reddit and i'm seeing a couple different sources. So, in all honesty, i'm sorry whoever came up with this - i don't know who the original creator of this brilliant idea was.

But if you check out say technologies, there's here's all the questions and what's interesting about this - is to put your question up there. You have to log in create an account, and you have to verify that you have shares and it also verifies how many shares you have. So with that, you see the magnitude of individual votes and then on top of it, you see the associated amount of shares, and this is where it gets interesting, because in a way we can almost do our own share account. Once again, i did not come up with this.

Some other wrinkly brain person did i'm just trying to share the information to get it out there to more apes. This is not my original idea by any any means, but anyway, the more people that vote. We can see the shares of all the people that vote and at a certain size it becomes very it's. This is a number that's already statistically significant.

19 000 separate votes, and we can see that that represents 22.7 million shares. But what people are saying is the more that people vote on this individual one. From timothy b asking about a dividend, we can get a good idea of the average amount of shares every single ape owns so whether you own a lot a little somewhere in the middle. I think it's a good idea to vote now.

There's a couple reasons of why i think it's good because right now, if you do this math out, 22.7 million shares divided by 19.2 000 votes. That's just under 1 200 shares per person, which is huge because we know this from early june. At that point there were 502 million shares as of now as of the time, i'm filming this there's around 513 million. They also announced that there were 4.1 million individual shareholders, so that's a lot of retail and then some big institutional players.

So, let's just for the ease of math - let's just say it's - 4 million retail, but it's probably higher - and this was of june. I would assume it's just even higher now, but anyway, more than 80 of amc shares on hold by a broad base of retail investors, with an average holding of around 120 shares. So, according to this math, we are now actually 10 x. That now me a data guy.

Let's understand that. Is that saying that we could take the 1 200 and now multiply it by the 4 million you can. But it's not exactly verifiable, because my assumption is the people who go out of their way to register and vote and get this ball rolling. I would consider them to be a bit more hardcore apes and there is a chance that they might own more shares.

So i don't know if the 1200 is necessarily representative of the average ape right now and that's exactly why i say the more votes, the better, as this number goes up, we can say with more confidence the average holding of the average ape. So, for me, a data guy. I love that i love this sentiment. I love the person who is so creative to come up with this, so the more votes, the better in my opinion, obviously there's a there's.

Some concerns uh two concerns. I want to go over here to make an account here. You do have to provide your brokerage login if you're not comfortable. With that, obviously don't vote.

I'm not saying like you have to vote. I get that some people have some like hacking. Cyber security concerns if you're uncomfortable, please don't do it some people who are a little bit more in the middle. Maybe you want to log in vote and then afterwards change your password and then enable two-factor authentication, obviously for your brokerage anyway, regardless of the say, technologies vote or not, i think everyone should have on two-factor authentication.

I mean it's your brokerage, it's your money. I think everyone should be a little bit more safe in general. Do i trust this website? Yeah? I mean adam aaron tweeted it out this isn't from some random internet like post or internet personality. This is from the ceo of amc.

He is the one who tweeted this link out and obviously i'll make sure to link it in the description below. So i just wanted to share my thoughts on that. If you don't feel like voting, don't vote, but i do think the more people that vote it does give us an interesting insight to the data and the average share ownership per ape right now, and it could lead to some very, very interesting conversations more specific to Weeble there are some brokerages that are not listed when you try to create an account. Weeble is one of them, but a workaround for that is to actually create an account on apex clearing and then on apex clearing.

You do your weibo login and then from there. You can vote, but then, beyond that some brokerages don't have workarounds some of them do so that is very specific to the brokerage you happen to be using. I just wanted to shout that out for weeble, because i know a lot of people own amc on weeble uh. So if you're looking to get your vote heard for this particular thing, i would check out apex clearing.

I think that might be worthwhile. So, overall, i'm excited to see where this goes. I believe people can vote all the way up until this weekend, so i'm just expecting this to go higher and higher and higher, which gives us more statistical significance. So, personally, pretty excited to see where these numbers actually end up landing.

Overall, that's what i have for you today. I'd love to get your thoughts on both amc and gme. In a comment below as a quick reminder, we do offer moon gang merch and one of the biggest issues with it is. We previously did not have worldwide shipping.

So if you want some moon gang merge, but we previously weren't able to connect with your country check out the website. Now there is worldwide shipping and for the celebration of getting worldwide shipping and a lot new gear. We completely overhauled the website. There is a currently a discount code going on, depending on when you're watching this video so check it out, but it should be on the banner of the top of that website.

Overall, thank you so much for tuning in. I appreciate it and until i catch you next time for me and chair best of luck in the markets, you.