AMC Going Extinct After Reopening?

Posted on by bmwehw in Market Moves, Meme Stocks

AMC is Dying and it’s a Good Thing

Let’s be real, nobody will be going back to the movie theaters after the reopening happens across the country. After being in the lockdown for over a year now, we have seen how convenient it is to stream movies from the comfort of our own home, make whatever food we want and relax with our loved ones and pets… FOR FREE!

Competing with Streaming

Before the lockdowns took place, Netflix was the only real competition for AMC when it came to viewing movies. Now you have so many different streaming platforms taking the eyes off of movie goers everywhere, before AMC would have huge midnight releases of the next big Star Wars movies.. well now those will take place virtually on Disney+. Not to mention the leap in subscribers that all of these platforms have gained. Why would you pay $10 a month for Disney+ to view movies at home, then go spend $55 just to see one movie in a theater with some snot nose kid kicking the back of your seat and spilling his Pepsi on you? Well let me tell you, you wouldn’t! Anyone who is subscribing to these services, and there are MILLIONS of users, will not be seeing the inside of a movie theater anywhere in the near future.

Stop Following the Masses

Get your head out of the sand and come to the realization that AMC will continue on its downward spiral into the abyss of retailers with dying business models. There is an absurd amount of confirmation bias happening on the social media platforms when it comes to investing in AMC. It is common practice to block anyone who has a differing opinion from you and shout at them with curses, this makes it obvious that a majority of the investors at these levels have no clue what they are doing and are just following the masses off the cliff.

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Bitcoin Is Looking Like A Buy After Drawdown?

Posted on by bmwehw in Bitcoin, Meme Stocks

Over the past few days we have seen Bitcoin plummet from a high of $58,000 drawing down 25% to hit its current price of $43,000. Is this a good time to purchase a few Bitcoins at a discount for your digital wallet or would you be better off YOLOing your life savings into a meme stock like $AMC or $GME?

It all starts with your risk tolerance, because with Bitcoin, there is a lot of risk that comes with owning it. The number of 25% swings in the price of bitcoin is almost as much as the number of times you’ve probably blown up your trading account. Holding on for dear life is the only way to hold bitcoin and everyone knows it.

Keep your friends close, and your enemies closer.

Know who your enemies are, there has been a lot of publicity around the criticism around Bitcoin from very powerful individuals in the financial sector and the government. You shouldn’t forget that these types of people who have been at the top of the food chain for years will not go out silently in this fight. They will attempt to put in strict regulation until they are able to amass a fortune in Bitcoin and control the market. It shouldn’t take anyone by surprise that the common man is at a serious disadvantage when it comes to the investing world and I promise Bitcoin will be no different.

Whether you think there is a massive upside to owning it at this price or not, you need to set a target price for when you will exit the position. It could be $75,000 or $750,000 but it is important to set a firm price target which will help you take the emotion out of owning Bitcoin and turn it into a true investment for you. Bitcoin is a good thing to “set and forget”, wake up in 10 years and if you were truly right about your investment thesis you will no doubt wake up a very wealthy person in the future.

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Apple Targeting Gamestop for Video Game Takeover?

Posted on by bmwehw in Meme Stocks, Technology

When you think of Apple the first thing that comes to mind is the fact that it is the best run company in the world, the second thing you think might be the blisteringly fast speeds that their new MacBook Pro M1’s provide and blowing Intel out of the water with the new Apple SoC, but one thing you might not think about with Apple is video games…

The question has now been circulating, could Gamestop be on Apple’s radar as a target for takeover to get an inroad to the world of video games? Well I think it could be a possibility!

Gamestop has the perfect infrastructure already set up to turn itself into the place-to-be for both competitive and casual gamers alike. Now, all that Apple would have to do is turn these video game centers to a place to showcase that Macs truly can  be used for playing video games and may actually provide a better video gaming experience than the traditional Windows computers.

One side effect of taking this leap into the world of video games for Apple would be setting the stage against Microsoft to prove who has the better software AND hardware to win over the ever growing business of gaming. Projected to be a $200 billion industry and growing steadily every year, the video game market is not just surviving but absolutely thriving. if Apple can see this and take advantage of the popularity and lifestyle that Gamestop provides to it’s customers, it could prove to pay off huge.

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GameStop Heads Toward Best Week In a Month on Reddit Frenzy

Posted on by bmwehw in Meme Stocks

GameStop Corp. shares are on track for their best week this month amid a flurry of day trader activity.

The video-game retailer has jumped about 200% so far this week, as it staged another late afternoon rebound as amateur investors continued to promote the stock on social media platforms like Reddit and StockTwits. More than 75 million shares changed hands heading into the final hour of trading, more than triple what’s been seen in the past two weeks, and adding to the 233 million that traded over the past two sessions.

“It would be unwise to discount the power of the collective retail trade and this is an example of the resurgence of energy either on GME again or through another stock,” said Amy Kong, chief investment officer of Barrett Asset Management.

The stock has been a poster child for volatility so far this year. Euphoria for the video-game retailer set off a 2,728% rally last month before shares came crashing down and wiped out about $30 billion in market value. The retail craze drew ire from Washington and led to a House Financial Services Committee hearing on retail trading and the video-game distributor last week.

Options traders were betting that the stock could do much better Friday after more than doubling so far this week. The most-active option traded on the stock Thursday was a contract on GameStop spiking to $800 on Friday. Some 52,000 contracts changed hands during the session betting on this one-day gain of 636%. The stock rebounded to rise 9.1% to $119 as of 2:56 p.m. in New York after swinging between a 31% jump and 21% slide.

“From a top-down perspective, I would caution that these price spikes continue to signal frothiness in certain corners of the market and represent sharp deviations from company fundamentals,” Kong said.

Analysts cited a tweet by activist investor and GameStop board member Ryan Cohen posted shortly before the stock began its resurgence on Wednesday, suggesting Reddit traders may view the photo of a McDonald’s Corp. ice cream as a cryptic message to resume buying. A report from Citron Research suggesting the company purchase Esports Entertainment Group Inc. to pivot away from its declining retail business provided a further catalyst.

Even with the stock volatility on Friday, shares remain nearly nine-times higher than the average analyst price target of about $13, according to data compiled by Bloomberg. None of the eight analysts who follow the stock rate it a buy — it has four hold-equivalents and four sell recommendations.

While the stock’s revival caught many on Wall Street flat-footed this week, the craze is “nothing like what we saw in late January,” according to Eric Liu, the co-founder of Vanda Research. “Part of that is due to a broadening of the opportunity set” with retail traders flowing into cannabis and crypto-exposed companies, he said in an email.

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GameStop stock doubles in afternoon; even Reddit is surprised

Posted on by bmwehw in Meme Stocks

NEW YORK (Reuters) – GameStop Corp shares more than doubled in afternoon trading on Wednesday, surprising those who thought the video game retailer’s stock price would stabilize after recent hearings in the U.S. Congress prompted by the fierce rally and steep dive that upended Wall Street in January.

GameStop shares were up 60% after hours at around $146, following a 103% rise during the day’s trading.

Trading in GameStop was halted several times following a rally that began around 2:30 pm Eastern time Wednesday with no obvious catalyst.

Analysts that follow the stock could not point to one single reason for the sharp move, offering reasons that included a corporate reshuffle.

“GameStop announced the resignation of its CFO last night. Some may have taken this as a good sign that RC Ventures is making a difference at the company in terms of trying to accelerate the shift to digital,” said Joseph Feldman, an analyst at Telsey Advisory Group.

Stephanie Wissink, analyst at Jefferies Research declined to comment on the afternoon stock spike but referred to her research report following the CFO resignation. Wissink said it did not seem like a coincidence that the CFO resigned after the company settled with activist investor Ryan Cohen’s RC Ventures.

“We expect GME to pursue a CFO with a more extensive tech (vs. retail) background, which will be a signal of the direction the company is due to take in coming years,” Wissink wrote in her note.

The spark also seemed to take posters on Reddit’s popular WallStreetBets forum by surprise.

“Why is GME going back up. is it Melvin covering?!,” one user wrote https://www.reddit.com/r/wallstreetbets/comments/lra5cg/daily_discussion_thread_for_february_24_2021.

In January, shares of GameStop soared more than 1,600% as retail investors bought shares to punish hedge funds such as Melvin Capital that had taken outsized bets against the company. Melvin Capital said it lost 53% before closing its position in GameStop.

Other so-called “stonks” – an intentional misspelling of ‘stocks’ – favored by retail traders, also shot higher in Wednesday afternoon trading. AMC Entertainment Holdings Inc gained 18%, while BlackBerry Corp rose nearly 9%. Shares of Canadian cannabis company Tilray Inc gained nearly 13%.

The retail trading frenzy was the subject of hearings in Washington last week, where Keith Gill, a Reddit user and YouTube streamer known as Roaring Kitty who had boosted the stock with his videos, reiterated that he was a fan of the stock.

Shares of GameStop remain nearly 74% their all-time high reached on Jan. 27 despite Wednesday’s rally.

(Reporting by David Randall; Editing by David Gregorio)

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