I didn't even watch the videos, people will do hype jobs like that. Was it at least entertaining? That used to be part of the WSB spirit; I've been turned off to the place for a few months now. AMC is trading in a range $40-70 this month, and even if it went to the low end of that range I would not be interested in buying it as it looks too extended to me.
No it was not entertaining. It was pure garbage. I just wanted to note the predictions in each one and check them later. I feel the same way about AMC stock. The only way for AMC to be successful in my eyes, would be to cash out their shares during one of these squeezes and use the massive profits to remodel, reshape, and completely tear down and build a new business. The theater business is not far from extinction, at least in its current form. In my opinion. People still love movies, but I cant remember the last time I had a desire to go to a movie theater. And even when I have gone, it has never been a particularly great experience.
In with 20 shares at under 20 bucks. For me, it's more of a "whatever" trade. I LOVE LOVE LOVE the interest it's getting, the volume is awesome, f they suddenly open ice cream stores and start online energy drinks or whatever I don't care. I know they're attracting attention and that's pretty much it as far as I'm concerned. Ditto my 10 shares of GME at 170.00. And to be fair, just this week I was longing to go to a Real, Live, Movie theater! It's been too long.
I rode AMC from $4 to $20 (then also rode it down to like $8-$9) that very first pump when it followed the first GME pump. Haven't touched it since, though I should have tried it again if I'd been paying attention.
Im really curious to see how this all plays out in the long term. It seemed like it would all be over by now, but this story never ends.
No way, too much volume. I did great on AMC cost averaged around $8 and out and $22, but out too early. Did sell covered calls every two weeks for a few months though, it was a good run and knew I'd get called at some point. You have to look at the volume in the run up from $20 to $60 a few weeks back (where I got called out). Daily average volume in that week was probably 500Mish on only 448M shares in float. That means a lot of the retail players (i.e. non insider / institutional) got turned over and most that are in now got in during the $40-$60 phase. It's established a new norm even if illogical from a fundamental standpoint, it's not something that would break down so quickly. However, from the chart I see an ascending wedge about to come to a head. I see $60 overhead resistance with an upward channel that will point to $60 in a week or two's time. You'd think it could either break out to $70 (beyond?) or break down to $40 again when those two lines meet. Time will tell I suppose.
Good reality check on AMC Entertainment.. https://rookiethinker.com/amc-entertainment-meme-stock-retreating-what-do-now/
If there is one thing we can count on, its that eventually price catches up to earnings, or earnings catches up to price. You can have deviations from the mean and extended oversold and overbought periods, but it all reverts back.
*Demonstrates links via different colored yarn connecting red-circled papers tacked to 40 bulletin boards.*
