Hedging Against America: The Mudrick Short Report
Good Sunday morning read.
These people are fukked up. They literally kill American businesses for money.
The strategy is this: They find a distressed company then buy a bunch of their debt through bonds and/or loan them a bunch of money.
They then short the hell out of the stock and convert the bonds to more stock which crashes the price.
The company goes bankrupt so they never have to cover the shorts. They now pretty much own the company cause they own all the debt, so they get paid in bankruptcy court too. And they can decide whether to re-list the company and make more money, or just let it die. All the while retail investors are being taken advantage of to the tune of millions or even billions of dollars.
This was the play with AMC until we stepped in, now they are fukked and fighting for their lives off one really bad bet.
Reading stuff like this only makes my conviction for the stock stronger. I hope this goes our way, and these people can never use this strategy again. It’s some of the most depressingly corrupt shyt I’ve ever known when it comes to this countries economy.
I’m holding as long as it takes. This shyt has to stop