You may remember the GME Gamestop shares that were rallied purely by Redditers to $480 a share at their high.
Well AMC is sitting at $31.95 having fallen on Friday. Let’s just suppose that AMC manages it to over $400 a share that is a rediculous profit. However, the share is overpriced at the moment if it was not normal market conditions I would not be sitting in it.
If the Reddit/Facebook WallStreet bets manage the same feat they did with Gamestop, it could be one of my top profitable trades this year, however there is more going on behind the scenes, with shares being sold off and hedge funds trying to force the price down. It’s Gamestop all over again, and this time, I’m holding much longer with those bigger targets in tow. Imagine this $30 stock hitting $400/$450 per share.
This is market manipulation technically, but hey, everyone is doing it. Elon Music manipulating DOGE, hedge funds short squeezing stocks and many more slightly dodgy practices, meanwhile the SEC iignores it all completely and spends its time hounding Ripple in a case that it is unlikely the SEC will win.
Nothing has been learned from the Market Crash outlined in the film the Big Short. We are just back doing the same things.