What is going on moon gang in this stock market wrap up video for today, thursday april 29th, i'll mainly be focusing on one theory. I have that could explain. What's been going on with amc over the past two days, it'll be relating to the mass amount of shares being returned that were on loan, but the stock is still going down so i'll, be giving one theory for that also be going over. Some of the technical and fundamental updates for both amc and gamestop and make sure you stick around until the end, because i'll be going over one new trade that i just placed today that i think could be paying off big tomorrow or maybe even next week before We hop into that.

Don't forget that this platform that you see in front of you is weibo it's a free platform with free trades and if you sign up and deposit a hundred dollars, you will get two free stocks. The link to that is in the description of the video all right, let's hop into it, so amc closed out the day at 10 20, which was a drop of 5.99 and gme closed out the day at 176, which was a drop of 1.34 just so you Know where, where we are for like posterity and everything, so what is going on in the world? Well, i just want to start this off before we hop into the numbers in the live stream. Today there was a lot of people saying that marketwatch was put posting like new fud about amc and honestly, if you look hard enough each day there is new fun related to both amc and gme. But before you read it like, i don't think it's a good mindset for all of us to be and be like.

Oh that is definitively fud just because it's negative! It's against me! Honestly! Whenever you hear something negative, you should be able to like look at the data poke holes into it. You don't want to just be only looking for confirmation bias. I don't think that's a good mindset to be so when people are telling me i'm like hey. Let me look at the article like.

I don't want to think that everything's fun, just because it's against my own position. So let's give it a chance and here's what happened. I opened it up. I was like all right, first of all, an opinion, so it doesn't really hold that much weight.

Should you buy amc, stuff, very fair question next slide. These analysts say not at any price right away. I'm like well. This is very clickbaity they're, just going for a headline to have more ad revenue, you're telling me that if amc was offered to you at a cent a share, you wouldn't buy as much as you could all right.

Obviously, this is like so right away. I feel, like their arguments, losing a little bit of weight and i i do recommend you check this out. Like i'm not saying you shouldn't read anything, that's negative. You should fairly weigh all the information available to you and i think you should read it, especially if your own money is on the line.

But if you scroll down long enough, they say all this stuff. They do do classic fundamental analysis which, like inherently, i think in this day and age, should be revamped. It's kind of antiquated in these old fundamental models. But the thing i want to bring up to your attention is right here: they're, not even just going for the clickbait of not any price, they're legitimately, arguing that the stock is not worth one dollar i mean in my own opinion.

Remember, i'm not a financial advisor, but you have to have some pretty interesting data and pretty interesting arguments that can be verified if you think amc is worth less than a dollar and, in my opinion, the way i like look at stocks. None of this information was telling me why amc is worth less than a dollar um and in all this they did all this like the fancy. All this market share revenue, future revenue they're. Looking at all this stuff, they're saying it's not worth a dollar which i don't buy and then they're saying amc is selling stock to exploit gambling investors you know and then they ended up with buyer.

Beware so to me, i i tried to give this article a chance i really really did, but it is once again more fun um the fact that they're saying don't buy it at any price. Well, that's crazy! Somewhere! It has to have value so to say not to buy it at all and, like i get it the headline, but then, when they're, like legitimately arguing it's not worth a dollar, i think that's crazy and then all this and nowhere did they explain like anything about The statistics of a short squeeze, like literally it was not brought up at all - they didn't put those odds in they didn't factor in that alone, gives it some value beyond the fact that it is a movie chain and people are going to movies once again. In fact, this also came out today, new sorry, new york city, set to fully reopen july 1st. We know that new york as a state, is one of the strongest states for amc.

Things like we're going back to that new normal, which is great for movie theaters, not just amc, but all movie theaters, there's going to be a lot of rebound plays and amc is obviously one of them so to say that it has no value. It's worth less than a dollar and they're exploiting gambling investors. Well, like my argument, isn't like as much as i mean it as a joke. Whenever i start like a stream of like the casinos open, literally, all investing is gambling like no matter what you do if you're buying a stock an option a future, any of that a crypto there's some a level to risk to it.

So now it's just like into the semantics of how you are like defining gambling and any good gambler would know that at that point you have to factor in the odds of a short squeeze of what's going on, so i try to give it a chance, but In my opinion, this is worthless. I will link it below if you want to read it yourself, but on top of that we do have the fundamental positive news for amc new york city set to fully reopen on july 1st. I think this is better than just new york city, because i think we're about to see more states more major cities follow suit with that on top of gainstop in terms of fundamental news, a mid-day. Today we saw a nice spike, not only in price, but in volume, um, ryan, cohen, co-founder of chewie, and now a chairman of the board for gamestop.

He tweeted this out um a gif, a south park related one pretty funny uh. It is getting people pretty amped up about gamestop, slowly grinding higher, so uh. For me, i like to watch both of them all right. So now, let's hop into well.

Let me go over the gamestop numbers and then i'm gon na hop into like my theory. Potentially, what's going on with amc, so the short interest did jump up today, uh an increase of 3.3 percent. The current estimated shortages for gme is 24.4 and the borrow change was, let's just call it half a million which means that right now um these up top. We have the today's starting numbers, so we're probably at a shares on loan of maybe 14.75 million utilization starting today off was 4 57, so i'm sure those are higher now, so those are the numbers for gamestop and amc.

Now, let's get into the point of my theory so right now um, the current estimated short interest is 23. The utilization to start today off was a hundred percent and that's worthwhile to note uh, because what we saw yesterday and to start today off the shares on loan were around 150 million. So if you do this, math the borrower change we're now down to 148 million. This is kind of a repeat to less severity of what we saw yesterday yesterday.

I think there was a net return of four or five million shares and the same thing happened today where early in the morning, we saw a spike up to a borrow change to being a positive one million and throughout the day it kind of trickled down, and We ended the day down minus two million and that's a fair question. So over the past day, let's just call it: five million shares returned it's actually, probably more, but we've all been saying well, if shares are being returned. That means that shares that were short should be covering and to cover that's buying pressure. Why aren't we seeing the stock going up? That's a very, very good question and i just want to offer my theory.

I'm not saying i'm right, i'm not saying i'm wrong. I'm just saying this is potentially one explanation. So over the past two days, let's just say it's 5 million shares, remember that the shares on loan and shares being short are actually two different things. Are they highly correlated? Yes, why would you rent out a share? Too short, without actually shorting it like why pay that borrow fee and one theory i've been thinking about today and i was kind of talking about it on the live stream.

Today is so these hedge funds, or whoever is paying this fee, and that doesn't mean they have to take the short right away, like usually you do, but what, if they've, been waiting to take this short and something over the past couple days over the past like Week or two has told them, you know what we don't see our opportunity to short here and we're just going to give them back as in they're, seeing something in the market, or they have some other piece of information that they paid to get all these shares. On loan and something's going on that, it is not worth it to short it to them. I think that's an interesting thing to think about. Obviously, that would be hugely beneficial to us because they might know something they might be seeing something that maybe i don't recognize or maybe are your other favorite people on twitter, reddit or just like really youtubers like me that we're not fully picking up on because, like Granted they're in that world of wall street, but my point is, is maybe all these shares were going on loan and they're just returning them because they're like you, know what i don't even want to have a part of this fight um.

It is potentially one thing to consider. Another interesting thing to point out is that, even though yesterday we saw a net return of millions of shares, the utilization remained 100, as in the people that the shares were returned to, they no longer want to lend them out. As in they want to have quick access to their own shares and they own them, and they don't want to lend them back out, why are they doing this? I mean your guess is as good as mine, but that's another interesting thing that, like i would honestly say, both of these things have strong bullish connotations just a little bit of food for thought. This is my own theory.

Um, like i, don't have the hardcore evidence to prove what i'm saying and that's why i'm trying to make this very, very clear. It's my own theory and thoughts of potentially something that could be going on and explaining the current situation that we are seeing in amc. So with all out that out there, let's hop into some technical analysis, so we know what price levels to watch for the remainder of the week and then i'm going to share that one trade that i think is going to be kind of interesting. Just so, you know s p, 500.

In etf, that kind of tracks the overall market hit a new all-time high. Today i mean i sound like a brokered record. I feel like every time i'm coming on to this. These updates, like stock market all-time high, your blue chip stock to retirement account, probably looking pretty good right now, all right so for amc currently trading at 10.

21. I want to point out that, right now, it's settled all day at support not like this is. It was support, then resistance. We know it's an important price level, it's very common in the stock market that once a price important price level, it remains to be an important price level.

So clearly, the region between 10 10 25 was very important support resistance once again acting as support. So i'm looking for that to hold and then swing back upward and i think, there's an abnormally good statistical chance of that happening either tomorrow or when we kick off. Next week, because look how blown out the rsi is the rsi for those of you who haven't heard this before is the relative strength index has values of 0 to 100 and it maps out bullish against bearish momentum when it gets very, very low, specifically below 30. That's considered to be highly bullish or excuse me, bearish momentum, and it's considered to be oversold, as in what we've seen over the past, really three days in amc, has now put it in the oversold territory.

So not even talking about fundamentals, not even talking about short squeeze, i'm talking about purely technical training. There will most likely be people coming in to buy it, because it's a good dip, buy opportunity and well also related to some crazy stuff that was going on on the live chat. Today, i did buy more shares of amc because like well, there was wild stuff in the live stream, but on top of that um i did think it was a pretty good dip buy opportunity. So i bought more myself.

So i'm looking for this 10 to 10 25 region to hold and come back up. This support, i think, will then be resistance around 10 60. 10. 70.

from there. I will then be watching 11, and these are just the price levels, i'll personally be paying attention to, in the very very short term, in terms of game, stop a little bit different um. So we had a nice run up on friday, and then this was because of the at the market. They raised uh the at the market, offering they raised about half a billion dollars from there uh.

It's been very, very struggling like at 180, pretty obvious in the charts rejection, rejection rejection. So that's the first breakout, i'm looking for the region from 180 to 185., following that i'll then be watching from like kind of 200 to 225. If we can get above that in terms of support um out of the gate, i will be watching for 168 to hold and from there we have 160.. Those are the price levels of interest to me on both amc and gamestop to close out this week and then really kick off next week.

So then, finally, if you've been sticking around for the video, i appreciate it uh. I think tesla will be a very, very interesting trade like now, so why i think that is so tesla. We know it didn't have the best earnings report recently um to kick the week off, but right at the close of the day, we saw a massive i'm talking. A massive amount of money being bet on the 650 strike price puts right here: 11.

000 in the open interest expiring. Tomorrow. That's a lot of money saying that tesla will drop to 650 tomorrow. I don't know what the reasoning is, but sometimes it's smart to follow.

Big money - maybe they know something we don't so because of that, i myself bought the 660 right here. I bought the 660 puts for next friday, just to give myself some winkle room in case. I get the play completely wrong. As of now i'm pretty much break.

Even on it uh in post market, it is looking good for me and the stock did come down a little bit, but i just think it's weird that so many people right at the end of the day were loading up on. Tesla's 650 puts that expire on april 30th, which is tomorrow, i'm filming this on the 29th um. So i i don't know what's going on, but sometimes it's it can be a profitable trade to follow big money. Maybe they know something we don't.

I personally followed it especially because there was a swift rejection at the 680s it broke below 679. I am looking for tesla to basically capitulate below 670. uh. That's a big support.

It caught itself at 669 today, so if tesla can go below that, obviously this put play will pay off uh quite a bit, so i'm excited to see how that plays out. So with all that being said, i would love to get your thoughts on both amc and gme. Specifically, more importantly, what do you think about my theory of? Do you think there could have been a decent amount of people who basically got amc? Shares too lone saw something they didn't like and you're like they're like you know what i don't even want to mess around with the short play and they return the shares. Do you think that's a decent theory, or do you think i'm like completely missing something feel free to? Let me know in a comment below if you enjoyed this video, i would appreciate it if you could leave a comment in general also drop a like button.

That type of engagement really helps me out with the youtube algorithm, and on top of that, if you haven't already don't forget to join up with the moon gang by hitting the subscribe button, i live stream monday to friday. On top of that, i post videos like this and on the weekend i do other technical, fundamental and crypto based videos. So, if that's something that interests you, i would love you to be a part of the space ape community until i catch you next time from me, sharon duxert best of luck in the markets. You.