Shares of the movie theater chain rallied more than 116% since Monday. The highest stock borrow fees, as of September 30th, for stocks with over $100 million of short interest were: Short sellers were up +$47.2 billion in 3rd quarter mark-to-market profits, +4.02%. S3 looked at stocks with at least $100 million in short interest and ranked them by their stock borrow fees . AMC has 13.8% of its float shares sold short after a 6.2% increase . If AMC manages to decisively hold the 50-day moving average as support, then a rise back to its June peak of about $70 could be in order. No trader will be forced to exit a position that continues to be profitable. Their efforts, which surged in January, pushed the stock to $20 a share, up from $5, and allowed AMC to lighten its debt load by around $600 million. All Rights Reserved. June 4, 2021: $21.6 billion with $5.47 billion in revenue = 3.9x market cap to revenue. No trader will be forced to exit a position that continues to be profitable. See here for a complete list of exchanges and delays. The data reveals that GameStop's short interest currently stands at $1.76 billion after it dropped by $880 million in just two weeks following the short sellers' recovery . American Consumer News, LLC dba MarketBeat 2010-2023. As the chart below shows the number of shares being shorted fell significantly in late January (the gold line) when the stock had its initial pop due to wallstreetbets Reddit crowd jumping in. If you become a successful company you destroy a shorts thesis hence no logical reason to continue shorting. We want to hear from you. Dusaniwsky wrote, We have seen AMC short covering this week, but by no means are we seeing a wholesale short squeeze in this stock at the moment. Market wide Short Interest as a % of Float declined moderately in the 3rd quarter, decreasing -28 bps from 5.33% to 5.05%. AMCs short borrow fee rate has skyrocketed in the past months but is now reaching record highs. After a 40% Drop, Analysts Remain Bullish on Impinj, Visa Charges Higher After Better-Than-Expected Q2 Report, onsemi Puts A Bottom in Chip Stocks, Heads For New Highs, Checkpoint Software Leads Cyber-Security Stocks. 2023 S3 Partners, LLC. They may exit or trim their positions if trading or stock loan liquidity diminishes significantly or if their expected Alpha is reached and there are more attractive trades elsewhere. While retail investors keep trying to defeat short-sellers by provoking short squeezes, the company's management is trying to prove to the bears that AMC is more than just a meme. This is@CEOAdamstrategy and the only strategy that has ever worked in the history of the market! According to CEO Adam Aron, the future of AMC's cash management will consist of supporting its core business operations, repaying high-interest loans, and also investing in growth initiatives. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. AMC Entertainment Is Most Expensive Stock For Short Sellers, But What Other Stocks Top The List? S3 looked at stocks with at least $100 million in short interest and ranked them by their stock borrow fees. Do Analysts' Price Targets Make Domino's Pizza Stock Look Tasty? Stonk-O-Tracker is currently reporting the borrow fee at 102% but recently showed hedge funds were paying as much as 731% to short AMC stock. Accept Read More. How does a short squeeze work against AMC Entertainment? There were more profitable shorts than unprofitable shorts in the 3rd quarter with 61% of all short positions adding positive numbers to a traders bottom lines. Got a confidential news tip? Ron, It matters and it matters even more when shills comment negatively towards AMC, 100% agree. Short interest is typically published by a stock exchange once per month. (Photo by Ethan Miller/Getty Images), chart on GameStop is available via his tweet, There is a large amount of dollars at risk on the short side (high short interest), There is a large proportion of a securitys tradable float shorted (high S3 SI % Float), There is scarcity of stock loan supply (high stock borrow fees), There is limited daily trading volume (high days to cover), AMC short interest is $4.53 billion of $21.6 billion market cap, Shortsare now down $3.91 billion in year-to-date mark-to-market losses, This includes up $302 million on Fridays decline of 6.7%, Shorts are down $1.99 billion or 52%, last week, Dec. 31, 2017: $1.58 billion with $5.08 billion in revenue = 0.31x market cap to revenue, Dec. 31, 2018: $1.48 billion with $5.46 billion in revenue = 0.27x market cap to revenue, Dec. 31, 2019: $747 million with $5.47 billion in revenue = 0.14x market cap to revenue, Dec. 31, 2020: $248 million with $1.24 billion in revenue = 0.20x market cap to revenue, GME short interest is $2.99 billion of $17.6 billion market cap, Shortsare still down $6.77 billion in year-to-date mark-to-market losses, This includes up $114 million on Fridays decline of 3.8%, Shorts are down $294 million or 10%, last week, Fiscal 2021 revenue: $5.43 billion estimate, Fiscal 2022 revenue: $5.37 billion estimate, GameStop has a market cap of $17.6 billion, Which is 13.8 times greater than December 31, 2020s market cap of $1.3 billion, And 2.1x market cap to fiscal 2018s revenue. AMC Entertainment To make matters worse, AMC short sellers have also gotten burned by the stock's 33.2% year-to-date gain. A decrease on short sale volume suggests bullish (positive) sentiment. AMC Entertainment has enough short sellers to create big buying pressure in a buy back when closing short positions. Short sellers betting against AMC suffered $2 billion in losses . Note that while GameStops fiscal year ended on January 30, 2021, and would normally be labeled fiscal 2021, GameStop calls it fiscal 2020. The recovery of AMC's business fundamentals has been aided by cash raised through share appreciation by retail investors. , symbol AMC, more than doubled over the past five trading days moving from $12.08 last Friday to close at $26.12 today, up 116%. In fact, AMC reported the best first quarter in the last two years. That's an uptick from 49.53 million in mid-September. Before you get any more clout - let's just be transparent here and acknowledge S3 is owned by Citadel. The indicators, strategies, columns, articles and all other features herein are for informational and educational purposes only and should not be construed as investment advice. To see all exchange delays and terms of use please see Barchart's disclaimer. He speaks with Bloomberg's Matt Miller on "Bloomberg Markets." (Source: Bloomberg) If a trader has significant historical profits in a stock; very high conviction in their investment\trading thesis; a technical or quantitative reason to be in a stock; or is very stubborn with a thick skin for enduring mark-to-market losses, they may remain short in a stock despite its high Crowded and Squeeze scores. This just defies all logic.". In 2021, AMC shares rose more than 3,000% when it peaked at its all-time high of $72 per share. The retail investors' agenda has been to keep AMC alive and to "stick it" to the hedge funds, one analyst told CNBC. Mullen Announces New Illegal Shorting Investigation, Mullen Five is Now Available for Reservation, The BBIG Community Raises More Than $42K to Fight Board, Supreme Court Summons FINRA in New MMTLP Hearing, Mullen Makes New Delivery of EVs to UNC Charlotte. But the chances of getting a tap on the shoulder from a Chief Risk Officer to cut losses and get out of the trade is higher for these stocks. Information and observations are obtained from sources believed to be reliable, but S3 Partners, LLC and any of its affiliates do not warrant the completeness or accuracy of any such information, or guarantee or in any way warrant any results from the use of any information. This has allowed AMC's management to go beyond simply recovering its business. Ihor Dusaniwsky at S3 Partners tracks short interest in stocks in real time, and he posts a number of his charts on Twitter.While AMC's stock was down $0.40 for the day from $26.52 to $26.12 . At the end of April, 100.63 million shares were being shorted. AMCs high short interest of 25.33% has short sellers in a sticky situation as rising borrow fee rates limit the amount of shorting in the stock. With the Russell 3000 down only -0.43% for the quarter, short sellers outperformed the market significantly by being good stock pickers. As of April 15th, investors have sold 137,470,000 shares of AMC short. (Photo by Ethan Miller/Getty Images), AMC stock price (right axis) and number of shares, There is a large amount of dollars at risk on the short side (high short interest), There is a large proportion of a securitys tradable float shorted (high S3 SI % Float), There is scarcity of stock loan supply (high stock borrow fees), There is limited daily trading volume (high days to cover). Supply is dwindling. For AMC, the picture for the short-seller is far bleaker than the one for GameStop. Its 30-day trading volume average is just above 100 million shares, according to FactSet. "FRC shorts are up +$320.3 million in mark-to-market profits on todays -33.9% price move," he wrote. S3 Partners estimates AMC short sellers paid a total of $1.91 billion in stock borrow fees in the first quarter of 2023, up from $1.54 billion in the fourth quarter of 2022. . It has around $5 billion in debt and needed to defer $450 million in lease repayments as its revenue largely dried up during the ongoingcoronavirus pandemic. Id love to know your thoughts leave a comment down below. However, as well as mentioning the box office success of Top Gun: Maverick as an indication of AMC's improving business, she sent a message to short sellers: "As an industry play, it doesn't seem like it's a great time to short.". He wrote in an email, A security is considered crowded on the short side if some or all of the following occur:, However, even when these criteria are met it does not necessarily mean the stock is a short squeeze candidate. Data from S3 Partners showing short interest figures for the first weeks of June indicate that 110.02 million shares were being shorted: Figure 2: AMC's short interest vs. price. New York, NY 10022, 2022 S3partners.com All Rights Reserved. With the huge spike in AMCs shares they are definitely in overbought territory. An additional variable which is necessary for a short squeeze to occur is substantial net-of-financing mark-to-market losses. AMC Entertainment Is Most Expensive Stock For Short Sellers, But What Other Stocks Top The List? To short a stock, an investor borrows shares, sells them and buys the shares back on the public market later to return it to the lender. All quotes delayed a minimum of 15 minutes. NEW YORK, April 25 (Reuters) - Short interest in shares of beleaguered First Republic Bank (FRC.N) rose by $389.8 million to $945.5 million in the past 30 days, and the bearish positions turned profitable for the month as its shares skidded on Tuesday, data from S3 Partners showed.
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