The AMC Stock Discussion Thread
- Thread starter I Really Mean It
- Start date
I Really Mean It
Veteran
Not in this to hold my present shares for long term. I may buy back a position once this squeezes, but my present shares are strictly for a short term play.
So Webull reports it’s users having 25% of AMC shares. On the other hand Webull claims its users have less than 1% of blue chip stocks Like Apple and Amazon.
This begs the following questions:
Are there really that many synthetics on the market that Webull could be holding the equivalent of 25% AMC’s float?
or
is it more likely that retail investors looking for a short play are that much more likely to use platforms like Robinhood/Webull compared to other brokers?
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Evergrande has defaulted on its debt, Fitch Ratings says - CNN
Evergrande has defaulted on its debt, Fitch Ratings says
Hong Kong (CNN Business) — Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings.
The credit ratings agency on Thursday downgraded the company and its subsidiaries to "restricted default," meaning that the firm has failed to meet its financial obligations.
Fitch said the downgrade reflects the company's inability to pay interest due earlier this week on two dollar-denominated bonds. The payments were due a month ago, and grace periods lapsed Monday.
Fitch noted that Evergrande made no announcement about the payments, nor did it respond to inquiries from the ratings agency. "We are therefore assuming they were not paid," Fitch said.
Evergrande has about $300 billion in total liabilities, and analysts have worried for months about whether a default could trigger a wider crisis in China's property market, hurting homeowners and the broader financial system. The US Federal Reserve warned last month that trouble in Chinese real estate could damage the global economy.
Evergrande did not immediately respond to a request from CNN Business for comment. However, the company had warned this may be coming. In a stock exchange filing last Friday, it said it might not have enough funds to meet its financial obligations. At that time, it said it was planning to "actively engage" with offshore creditors on a restructuring plan.
In another filing Monday, the company said it would set up a risk management committee that would be headed by Evergrande's chairman and founder Xu Jiayin to focus on "mitigating and eliminating" future risks.
Fears of default sent shares of Evergrande plummeting 20% on Monday. So far this year, the stock has lost 87%.
The company had been scrambling for months to raise cash to repay lenders, and Xu has even been selling off personal assets to prop up its finances. It previously appeared to avoid default on any of its offshore bonds by paying overdue interest before their grace periods expired. Now, though, that streak has ended.
Another credit ratings agency, S&P, said earlier this week that "default looks inevitable for Evergrande" with repayments of $3.5 billion on US-dollar denominated bonds due in the coming months.
"The issuer [Evergrande] does not seem to be making much progress in resuming construction, given its difficulties in raising new financing," S&P Global analysts wrote in a note published Monday.
Chinese authorities have been trying to contain the fallout. Last Friday, the local government in Guangdong province, where Evergrande is based, said it would send a working group to Evergrande to oversee risk management, strengthen internal controls and maintain normal operations, at the request of the company.
The People's Bank of China and other top financial regulators have tried to reassure the public that Evergrande's problems can be contained. The central bank on Monday also announced that it would pump $188 billion into the economy, apparently to counter the real estate slump.
"The rights of shareholders and creditors of Evergrande will be fully respected in accordance to their legal seniority," PBOC governor Yi Gang said Thursday in a video speech to a Hong Kong forum, according to the central bank.
But other Chinese developers are also in trouble. On Thursday, Fitch downgraded theKaisa Group to "restricted default."
Evergrande has defaulted on its debt, Fitch Ratings says
Hong Kong (CNN Business) — Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings.
The credit ratings agency on Thursday downgraded the company and its subsidiaries to "restricted default," meaning that the firm has failed to meet its financial obligations.
Fitch said the downgrade reflects the company's inability to pay interest due earlier this week on two dollar-denominated bonds. The payments were due a month ago, and grace periods lapsed Monday.
Fitch noted that Evergrande made no announcement about the payments, nor did it respond to inquiries from the ratings agency. "We are therefore assuming they were not paid," Fitch said.
Evergrande has about $300 billion in total liabilities, and analysts have worried for months about whether a default could trigger a wider crisis in China's property market, hurting homeowners and the broader financial system. The US Federal Reserve warned last month that trouble in Chinese real estate could damage the global economy.
Evergrande did not immediately respond to a request from CNN Business for comment. However, the company had warned this may be coming. In a stock exchange filing last Friday, it said it might not have enough funds to meet its financial obligations. At that time, it said it was planning to "actively engage" with offshore creditors on a restructuring plan.
In another filing Monday, the company said it would set up a risk management committee that would be headed by Evergrande's chairman and founder Xu Jiayin to focus on "mitigating and eliminating" future risks.
Fears of default sent shares of Evergrande plummeting 20% on Monday. So far this year, the stock has lost 87%.
The company had been scrambling for months to raise cash to repay lenders, and Xu has even been selling off personal assets to prop up its finances. It previously appeared to avoid default on any of its offshore bonds by paying overdue interest before their grace periods expired. Now, though, that streak has ended.
Another credit ratings agency, S&P, said earlier this week that "default looks inevitable for Evergrande" with repayments of $3.5 billion on US-dollar denominated bonds due in the coming months.
"The issuer [Evergrande] does not seem to be making much progress in resuming construction, given its difficulties in raising new financing," S&P Global analysts wrote in a note published Monday.
Chinese authorities have been trying to contain the fallout. Last Friday, the local government in Guangdong province, where Evergrande is based, said it would send a working group to Evergrande to oversee risk management, strengthen internal controls and maintain normal operations, at the request of the company.
The People's Bank of China and other top financial regulators have tried to reassure the public that Evergrande's problems can be contained. The central bank on Monday also announced that it would pump $188 billion into the economy, apparently to counter the real estate slump.
"The rights of shareholders and creditors of Evergrande will be fully respected in accordance to their legal seniority," PBOC governor Yi Gang said Thursday in a video speech to a Hong Kong forum, according to the central bank.
But other Chinese developers are also in trouble. On Thursday, Fitch downgraded theKaisa Group to "restricted default."
Silky Johnson
The Master Investbreh
ucanthandlethetruth
Failure is not a option
Evergrande has defaulted on its debt, Fitch Ratings says - CNN
Evergrande has defaulted on its debt, Fitch Ratings says
Hong Kong (CNN Business) — Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings.
The credit ratings agency on Thursday downgraded the company and its subsidiaries to "restricted default," meaning that the firm has failed to meet its financial obligations.
Fitch said the downgrade reflects the company's inability to pay interest due earlier this week on two dollar-denominated bonds. The payments were due a month ago, and grace periods lapsed Monday.
Fitch noted that Evergrande made no announcement about the payments, nor did it respond to inquiries from the ratings agency. "We are therefore assuming they were not paid," Fitch said.
Evergrande has about $300 billion in total liabilities, and analysts have worried for months about whether a default could trigger a wider crisis in China's property market, hurting homeowners and the broader financial system. The US Federal Reserve warned last month that trouble in Chinese real estate could damage the global economy.
Evergrande did not immediately respond to a request from CNN Business for comment. However, the company had warned this may be coming. In a stock exchange filing last Friday, it said it might not have enough funds to meet its financial obligations. At that time, it said it was planning to "actively engage" with offshore creditors on a restructuring plan.
In another filing Monday, the company said it would set up a risk management committee that would be headed by Evergrande's chairman and founder Xu Jiayin to focus on "mitigating and eliminating" future risks.
Fears of default sent shares of Evergrande plummeting 20% on Monday. So far this year, the stock has lost 87%.
The company had been scrambling for months to raise cash to repay lenders, and Xu has even been selling off personal assets to prop up its finances. It previously appeared to avoid default on any of its offshore bonds by paying overdue interest before their grace periods expired. Now, though, that streak has ended.
Another credit ratings agency, S&P, said earlier this week that "default looks inevitable for Evergrande" with repayments of $3.5 billion on US-dollar denominated bonds due in the coming months.
"The issuer [Evergrande] does not seem to be making much progress in resuming construction, given its difficulties in raising new financing," S&P Global analysts wrote in a note published Monday.
Chinese authorities have been trying to contain the fallout. Last Friday, the local government in Guangdong province, where Evergrande is based, said it would send a working group to Evergrande to oversee risk management, strengthen internal controls and maintain normal operations, at the request of the company.
The People's Bank of China and other top financial regulators have tried to reassure the public that Evergrande's problems can be contained. The central bank on Monday also announced that it would pump $188 billion into the economy, apparently to counter the real estate slump.
"The rights of shareholders and creditors of Evergrande will be fully respected in accordance to their legal seniority," PBOC governor Yi Gang said Thursday in a video speech to a Hong Kong forum, according to the central bank.
But other Chinese developers are also in trouble. On Thursday, Fitch downgraded theKaisa Group to "restricted default."
Good...lets watch but until some substantial positive price movement
Look I’m strictly in AMC for MOASS if it’s no Potential for MOASS I don’t care about this stock it’s other stocks We can get in that are of better value and growth potential.
If they continue to just kick this can all of this hold the line talk is going to sound like bad holding bs. If we are still holding this time next year be prepared to embrace reality. I’m over this hold the line stuff. I don’t care about amc becoming a stronger company.
part of the reason it’s becoming a better company is because of all of us awaiting MOASS.
If they continue to just kick this can all of this hold the line talk is going to sound like bad holding bs. If we are still holding this time next year be prepared to embrace reality. I’m over this hold the line stuff. I don’t care about amc becoming a stronger company.
part of the reason it’s becoming a better company is because of all of us awaiting MOASS.
pawdalaw
Superstar
Nothing new. We knew he couldn't do that due to being in debt. It's been discussed at length... In this thread.
The two are one in the same at this point.
There will always be a potential for squeeze until the shorts cover their positions, but the longer this goes the more viable the company becomes as a smart investment and the better investment it becomes the more likely for a squeeze to happen.
Can’t really separate the two anymore.
pawdalaw
Superstar
I feel you, that's why we (you too) been preaching hold GME also. But this is how hedgies want us to react.
We know there are Billions of shares out there. The only way they escape is if we let them... not NFA. I've been srategizing on what I want to do moving forward. This play is for my kids also... Of course not everyone can do that with their buy in price. But we also preached only buy what you can afford. I believe the float is covered by "house money though." Still an attractive play to me. Although any future $ will go to gme where it is more dire.
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Patience, patience, what more can be said? The hedges aren't going to let you walk away with Ms before Christmas or even next Christmas. This is a war of attrition....
I held crypto assets since 2018 during the bear crypto market and had it pay off in 2021....
Unlike many crypto tokens, AMC will be successful for the foreseeable future and obviously has PoW...
Patience will be rewarded....
Aight, let's see.Evergrande has defaulted on its debt, Fitch Ratings says - CNN
Evergrande has defaulted on its debt, Fitch Ratings says
Hong Kong (CNN Business) — Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings.
The credit ratings agency on Thursday downgraded the company and its subsidiaries to "restricted default," meaning that the firm has failed to meet its financial obligations.
Fitch said the downgrade reflects the company's inability to pay interest due earlier this week on two dollar-denominated bonds. The payments were due a month ago, and grace periods lapsed Monday.
Fitch noted that Evergrande made no announcement about the payments, nor did it respond to inquiries from the ratings agency. "We are therefore assuming they were not paid," Fitch said.
Evergrande has about $300 billion in total liabilities, and analysts have worried for months about whether a default could trigger a wider crisis in China's property market, hurting homeowners and the broader financial system. The US Federal Reserve warned last month that trouble in Chinese real estate could damage the global economy.
Evergrande did not immediately respond to a request from CNN Business for comment. However, the company had warned this may be coming. In a stock exchange filing last Friday, it said it might not have enough funds to meet its financial obligations. At that time, it said it was planning to "actively engage" with offshore creditors on a restructuring plan.
In another filing Monday, the company said it would set up a risk management committee that would be headed by Evergrande's chairman and founder Xu Jiayin to focus on "mitigating and eliminating" future risks.
Fears of default sent shares of Evergrande plummeting 20% on Monday. So far this year, the stock has lost 87%.
The company had been scrambling for months to raise cash to repay lenders, and Xu has even been selling off personal assets to prop up its finances. It previously appeared to avoid default on any of its offshore bonds by paying overdue interest before their grace periods expired. Now, though, that streak has ended.
Another credit ratings agency, S&P, said earlier this week that "default looks inevitable for Evergrande" with repayments of $3.5 billion on US-dollar denominated bonds due in the coming months.
"The issuer [Evergrande] does not seem to be making much progress in resuming construction, given its difficulties in raising new financing," S&P Global analysts wrote in a note published Monday.
Chinese authorities have been trying to contain the fallout. Last Friday, the local government in Guangdong province, where Evergrande is based, said it would send a working group to Evergrande to oversee risk management, strengthen internal controls and maintain normal operations, at the request of the company.
The People's Bank of China and other top financial regulators have tried to reassure the public that Evergrande's problems can be contained. The central bank on Monday also announced that it would pump $188 billion into the economy, apparently to counter the real estate slump.
"The rights of shareholders and creditors of Evergrande will be fully respected in accordance to their legal seniority," PBOC governor Yi Gang said Thursday in a video speech to a Hong Kong forum, according to the central bank.
But other Chinese developers are also in trouble. On Thursday, Fitch downgraded theKaisa Group to "restricted default."
