Even if you don’t follow the stock market, you’ve probably heard about AMC (AMC Entertainment Holdings), GME (Gamestop), and Dogecoin (DOGE-USD). AMC and GME stocks made global headlines when they soared up to nearly 30 times in value back in January 2021 in part to a movement that began on r/WallStreetBets. With all the attention and support AMC has been receiving from vocal celebrities (like Chance the Rapper).
Coming soon to an @AMCTheatres near you
🎥🎥🎥🍿🍿🍿https://t.co/GV3jHI4EyK pic.twitter.com/n24ds0r4Dt— Chance The Rapper (@chancetherapper) May 7, 2021
As well as the general public, many are watching AMC stock because they believe it is primed to soar again… soon.
A “short” is basically when investors bet against a stock. They borrow shares at a fixed price and sell them, hoping the stock value will DROP in price so they can buy them back and return the borrowed shares, keeping the balance as a profit. If large institutions can “short” a company and drive the price so low that the company has to go out of business, the institutions never have to buy back the borrowed shares, and it becomes 100% profit. AMC stock price was driven down to $1.91 per share, and many feared the end was near for the beloved 100-year-old movie theatre company. Enter the Apes.
Wall Street Bets, a Reddit community of retail investors, dubbed themselves “Apes” when one of its members adopted a baby gorilla named “Urungano” from the Dian Fossey Gorilla Fund (@SavingGorilas on Twitter). Since then, the #ApesSavingApes movement has raised over $500k to help gorillas. They also decided to #SaveAMC.
The dangers of shorting a stock is the deadly “Short Squeeze.” Shorters rely on the price to go DOWN, so they buy back the stock cheaper and keep the profit, but if the price goes UP… they can lose more money than they have. If you invest in a stock and it goes to zero, you can only lose the price you paid for that stock. If you short a stock and it keeps going UP, your losses are limitless. Since you only have a finite amount of assets, if a stock you are shorting SOARS, you will get a “Margin Call.” That is when the lender tells you that it is time to square up for the current (higher) price of the stock and, if you can’t, they will liquidate all of your other stocks to put towards your debt, and you still owe them the rest if that isn’t enough to cover.
“The Apes” has now declared war on those shorting AMC and are looking to initiate another short squeeze which they believe to be inevitable. There are many prominent YouTubers growing cult followings by releasing multiple AMC videos a day, monitoring all the up-to-the-minute updates and activity. Their mantra is “buy and hold” or (“hodl”), so there aren’t enough shares for all the short sellers to buy back, effectively letting shareholders set their price. It is more than “betting” on a stock for the Apes. It’s a movement. To battle wall street greed that would destroy an iconic American company and to represent a new faction on Wall Street among the Bears and the Bulls… The Apes.
AMC CEO Adam Aron is so appreciative of the support of “The Gorilla Gang” that upon the release of Godzilla vs. King Kong, he said:
He even took the time to appear on a prominent YouTuber’s Channel: Trey’s Trades, one of AMC’s many champions.
So when you see images of Cesar or other prominent apes with #DiamondHands or #ToTheMoon, know that it is an AMC reference… #ApesTogetherStrong!
This is not financial advice, we are not financial advisors.
31 Days of Halloween Horror Movies List 2023
2023 Halloween Horror Nights Guide (Universal Studios Florida)
