Prognightmare said:
It may be but I don't like some of the technicals on the macros. Won't take much for them to slip. I went mostly cash today. If I'm wrong, I can redeploy tomorrow.
Mostly Foggy Recollection said:
Yep. I'm up 3K on my CCs I bought yesterday on WWR.
I honestly can't answer that question because I bought in for my son and my mom and I'm not going to trade it. This is plant and forget it because I believe the payout will be huge but my window is 5-10 years. If you're looking to trade it, it will come down if a pullback occurs. If I was looking for a trade, it might enter the 500-515 range on a dip.jsap said:Should we wait on buying TTD if we're going to have a pullback soon?Prognightmare said:ag94whoop said:Prognightmare said:
I don't like trying to guess specific time frames but I agree a pullback is close. IMO, it won't take much to set it into motion. At times like this, I like to stay extremely liquid and look for quick scalps.
Man I hope we get a real run from WWR, CLOV, TLRY and SNDL before that happens. I'm still upside down but getting back to numbers that CCs work and I could exit reasonably with some real growth.
However I expect a small pullback tomorrow and possibly a bearish week next week
I wouldn't worry that much about those because they've already been beaten up. They seem to have floors established. I think we will have a pullback, not a full blown correction/massacre like March 2020. JMO
NO, It's planted. I'm going to hold it for years so I don't care where it goes in the short term.agdaddy04 said:Prognightmare said:
It may be but I don't like some of the technicals on the macros. Won't take much for them to slip. I went mostly cash today. If I'm wrong, I can redeploy tomorrow.
When you say you went mostly cash you're not talking about TTD and the like are you?
cmk10 said:
AMC CEO just said he hasn't sold a single share in 5 years.
lol amc doing another offering now another 25m They should just so a 1b share offering ...so funny
— sam (@smartertrader) June 3, 2021
To be fair, they are saying that has to go to the shareholders to vote on.CrazyRichAggie said:lol amc doing another offering now another 25m They should just so a 1b share offering ...so funny
— sam (@smartertrader) June 3, 2021
Quote:
AMC stock seesaws to a loss after completing share-sale program, then asks investors for OK to issue more stock
Last Updated: June 3, 2021 at 5:59 p.m. ET
First Published: June 3, 2021 at 8:10 a.m. ET
By
Tomi Kilgore
Stock was sold at an average price of $50.85, just below the closing price but well above the intraday low; theater chain plans to ask investors for approval to issue additional 25 million shares as early as next year
Shares of AMC Entertainment Holdings Inc. seesawed to a loss in volatile trading Thursday, when the movie-theater operator announced plans to sell 11.55 million fresh shares in the morning, said it had sold them about six hours later, then asked investors for the right to issue more after the bell.
The stock AMC, -17.92% settled to close down 17.9% at $51.34, after swinging from an intraday loss of a much as 39.8% to a gain of as much as 10.0% in afternoon trading. Shares then fell about 5% in after-hours trading, when AMC announced its proposal for shareholders to approve more stock sales.
Don't miss: AMC's new free popcorn for retail investors is just latest move by increasingly flirty meme stock execs.
The stock was halted three times for volatility Thursday, all within the first half-hour after the open. The seesaw session comes after the stock had rocketed 95.2% on Wednesday, and 417.8% over the previous seven sessions, amid renewed interest in meme stocks.
"We believe the recent volatility and our current market prices reflect market and trading dynamics unrelated to our underlying business, or macro or industry fundamentals, and we do not know how long these dynamics will last."
AMC statement in 8-K filing with SEC
AMC said in a statement released at 12:58 p.m. Eastern on Thursday that it completed the "at-the-market" (ATM) program that was disclosed at 7:04 a.m. in an 8-K filing with the Securities and Exchange Commission.
The stock was down about 23% just before AMC announced the completion of the stock sale program.
FACTSET, MARKETWATCH
The company said it raised about $587.4 million from the stock sales, which were made an at average price of $50.85. While that price was 1.0% below the closing price, it was 25.9% above the intraday low of $37.66. The volume-weighted average price was $53.83, according to FactSet.
"Bringing in an additional $587.4 million of new equity, on top of the $658.5 million already raised this quarter, results in a total equity raise in the second quarter of $1.246 billion, substantially strengthening and improving AMC's balance sheet, providing valuable flexibility to respond to potential challenges and capitalize on attractive opportunities in the future," Chief Executive Adam Aron said.
After the day's wild trading session ended, AMC revealed in a news release and filing with the Securities and Exchange Commission that it will ask shareholders for the authority to issue up to 25 million shares. AMC previously planned to ask shareholders for approval to issue up to 500 million fresh shares, roughly as many as are currently in circulation, but canceled those plans after an uproar from investors. Instead, the theater chain will seek approval for a smaller number, and would not be able to sell any shares included in the approval until 2022.
"To successfully navigate the road ahead, we seek to assemble all of the financial tools that might help us," Aron said in a statement. "An important tool for any company is having shares available to issue if, and only if, the right value creation opportunity arises."
The stock has soared 402.8% quarter to date, while shares of fellow movie theater operator Cinemark Holdings Inc. CNK, -7.61% have gained 13.0% and the S&P 500 index SPX, -0.36% has tacked on 5.5%.
Also read: AMC's over 3,000% gain so far in 2021 makes it by far the best performing U.S. stock, but it's bonds say otherwise.
AMC had entered into the ATM agreement with sales agents B. Riley Securities Inc. and Citigroup Global markets Inc. The company said it would pay the sales agents a commission of up to 2.5% of the sales price of the stock, which would equate to about $14.7 million.
The number of shares sold represented about 2.6% of the shares outstanding as of May 2.
The company said it plans to use the proceeds from the share sales for general corporate purposes, which could include repayment of debt, acquisition of theater assets or capital expenditures.
AMC acknowledged in its 8-K filing that recent "extreme fluctuations" in its stock have been accompanied by reports of "strong and atypical retail investor interest, including on social media and online forums." As a result, AMC's stock sale plan comes with a warning for retail investors:
"We believe the recent volatility and our current market prices reflect market and trading dynamics unrelated to our underlying business, or macro or industry fundamentals, and we do not know how long these dynamics will last," the company said in a statement. "Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment."
MarketWatch staff writer Jeremy C. Owens contributed to this article.
Agree with every single word, but one.$30,000 Millionaire said:
I'm ranting, you can't stop me. The corporate strategy departments for $GME and $AMC should both be fired for completely missing the boat to capitalize on this market momentum to turn around their dying businesses. If I was on the board, I would be calling for their heads now.
For ***'s sake, hireMcKinsey<INSERT SOMEONE ELSE HERE> if you can't figure it out on your own.
I'd even go as far as a brand new pretty boy, or girl, graduate from Parson's School of Design..$30,000 Millionaire said:
I don't like them either. I like Bain and BCG a lot more.
BREwmaster said:
TTD is low risk at this level, buy and hold, diamond hand it forever like Prog said. Any June pullback might give a slight discount to current sp, but not much IMO.
McInnis 03 said:BREwmaster said:
TTD is low risk at this level, buy and hold, diamond hand it forever like Prog said. Any June pullback might give a slight discount to current sp, but not much IMO.
Will be cheaper post split
Agree disagree
(Not just because of split value, selloff post split run up)
Maybe, maybe not, no one knows the future. It may dip but I don't think it will be depressed too long. Not many retail investors can afford a 500-600 stock, but they can afford a 50-60 stock. Institutions may pare their positions post split, maybe not. It currently has 67% institutional ownership and only 4% short interest, so it has the respect of the big players. I don't work for TTD and get no benefit from anyone buying it. I don't know what the future holds, but imo, it's worth the risk as a longterm position.McInnis 03 said:BREwmaster said:
TTD is low risk at this level, buy and hold, diamond hand it forever like Prog said. Any June pullback might give a slight discount to current sp, but not much IMO.
Will be cheaper post split
Agree disagree
(Not just because of split value, selloff post split run up)
$30,000 Millionaire said:
TTD is going to get spanked with the rest of the market when we have a 10% correction. If you have a 5 year horizon, I bet you triple or more your capital.
$30,000 Millionaire said:
TTD is going to get spanked with the rest of the market when we have a 10% correction. If you have a 5 year horizon, I bet you triple or more your capital.
/NQ ⤵️ As I say "the night is long" 😉 https://t.co/91k4PUu94i pic.twitter.com/as4DyFnG1s
— HiddenPivots (@HiddenPivots) June 4, 2021
when we get a decent June pullback, TSLA will be on the chopping block. It already looks weak. I'd probably play put spreads on it, opex week expiration (6/18).bmoochie said:
I say this half jokingly half seriousis it the play for puts in the tech sector then with further out expiry?? Or just better to keep the cash on hand?
Tomorrow may be a key day technically.
— Sven Henrich (@NorthmanTrader) June 3, 2021
Here's why in my view: pic.twitter.com/bghUBHaZcK
Aggiesincebirth said:
Today was a covered call blessing. Have SNDL and FUBO exp tomorrow and will probably hold onto both. About to be net free on SNDL and CLOV as of tomorrow. That's quite the feeling...
