[MTG#10]

Originally Posted by DaFace

And why did it go from 5-70?

Hint: it had nothing to do with hedge funds.

Ahh **** it, my shit can wait. No, you are 100% absolutely wrong but I'd love to hear your take on it.

And since you stock guru doubters are too damn lazy to do any research yourself I'll post some recent articles for you.

Jim Simons' RenTech fund tripled its AMC stake last quarter - and slashed its Tesla holdings by 75%

Renaissance Technologies, one of the biggest and best-performing hedge funds in history, more than tripled its stake in AMC Entertainment and slashed its Tesla holdings by 75% in the second quarter.
RenTech, founded by the former NSA codebreaker and MIT math professor Jim Simons, held about 516,000 AMC shares at the end of March this year. It raised its bet on the cinema chain - a firm favorite of meme-stock traders - to 1.8 million shares last quarter, regulatory filings show.
The value of RenTech's AMC stake ballooned almost 20-fold to $103 million in the three months to June 30. That reflected the fund's share purchases, as well as the movie-theater group's stock price jumping almost 500% to $57.
RenTech may have warmed to AMC last quarter, but it cooled on Tesla. It cut its position in Elon Musk's electric-vehicle company from about 827,000 shares to 204,000 shares, reducing the value of its stake from $553 million to $138 million.

AMC Stock: Why One Famous Investor Just Tripled His Bet on AMC Entertainment

Renaissance Technologies, one of the largest hedge funds in the U.S., is really banking on the success of AMC, much to the chagrin of institutional short sellers. Jim Simons’ investing giant held over 500,000 shares of AMC in March, just as the stock’s short squeeze saga was getting started. Today, though, things have changed drastically. Securities and Exchange Commission (SEC) filings show Simons’ group upped its position in AMC to over 1.8 million shares.

To do this, RenTech had to trim some fat from its portfolio. Maybe even more surprising than the huge increase in its AMC stock staking is where it dropped some of the weight; the hedge fund cut its holdings in Tesla (NASDAQ:TSLA) down 75%.

All in all, the news is helping AMC to bulk itself up yet again. The stock finished out the day with a near 7% gain, although it traded far below its average trading volume of over 174 million.

RenTech is all about losing money, I'm sure that's why they tripled their AMC stake recently.


Swiss National Bank Scooped Up AMC Stock. It Also Bought Uber and Lyft

Switzerland’s central bank recently made some major changes in its U.S.-listed investments.

The Swiss National Bank more than quadrupled its stake in AMC Entertainment Holdings (ticker: AMC), bought more Uber Technologies (UBER) shares, initiated an investment in Lyft (LYFT) stock, and cut back on its McDonald’s (MCD) investment. The bank disclosed the stock trades in a form it filed with the Securities and Exchange Commission.

The bank said it doesn’t comment on individual positions of its assets. As of Dec. 31, the Swiss National Bank had total assets of $1.1 trillion.

The bank bought 637,100 additional AMC shares in the second quarter to increase its investment in the movie-theater chain to 832,741 shares.

I'm sure they just like to gamble, dumb Swiss just don't know any better.


A Giant Fund Scooped Up AMC Stock, Bought More Tilray and Carnival

New Jersey’s underfunded state pension recently made major changes in its U.S.-traded stock investments.

State of New Jersey Common Pension Fund D, the pension’s largest fund by assets, initiated a position in AMC Entertainment Holdings (ticker: AMC) stock, increased investments in marijuana producer Tilray (TLRY) and cruise giant Carnival (CCL), and slashed its investment in Chinese internet giant Alibaba Group Holding (BABA) in the second quarter.

AMC is way overpriced and is destined to tank so why would they do this? Dumbasses.


Top 10 Owners of AMC Entertainment Holdings Inc and Their Recent Buy/Sell Activity




Why would all of those hedge funds/investor firms recently increase their positions by so many shares at $30+ per of a dying company? Because they're all no-names that nobody has heard of and don't know what they're doing, that's why.