I mentioned earlier that I was thinking of punting on the meme stocks on wsb. I’m aware its a high risk and possibly high reward kind of play. But it makes life interesting and its fun. I’m prepared to lose what I put in, and I’m playing with yesterday’s profits.

Have picked up 4,000 shares of AMC Entertainment Holdings at $4.59. AMC is the world’s biggest movie theatre chain. Not a terribly complicated business. It’s been severely affected by the pandemic, and was flirting with bankruptcy until yesterday. AMC is also one of the most shorted stocks on the market.

Gamestop provided an interesting theory that individual retail investors banded together can create epic short squeezes. It’s not something I can remember happening to this extent, and I wonder how long it can last. I do think the party can last a little bit more, and everyone is looking for the next Gamestop. Several stocks are in play over there, including Nio, Blackberry, and Palantir.

I like that the small guys are screwing the hedge funds. The professionals have never been worth their fees, and manipulate the markets at the expense of the moms and pops. Its nice to watch them panic and lose billions, and I would like that to continue. The earlier the parasites are out of business, the better for the world.

I’m still unsure of whether AMC will be a long-term holding or a quick in and out. While I do think people will come back to theatres eventually, movie watching habits have changed. More people are comfortable with watching movies at home, and it saves a lot of money if you have a family. Movie studios like Disney are moving their shows to their streaming platforms. So the movie theatre business is in structural decline, and the pie is shrinking. But I think AMC’s current price of ~$4 is a reasonable buffer of safety, given that they were trading twice that amount before the pandemic hit.

This isn’t a buy call for my readers to follow me into AMC. I’m pretty clear internally this is a gamble, something I would not tell my friends and family to do. So invest at your own risk. This isn’t one of those websites where I make trading calls or earn anything from selling courses, platforms or trading software. I already have enough money, and I just post my own transactions.

In the meantime, it will be entertaining to see how it plays out. Probably worth the price of a movie ticket.

10 thoughts on “[Premium] Making my own little WSB bet

  1. So, you have finally decided to become a degenerate 🙂 I already am one, having hit an IQ below 80!
    Jokes aside, do you have a method to select the many meme stocks mentioned there?
    The mods seem to publish their daily stats at https://wsb.gold/public/dashboard/e65fcfcb-70a4-4d86-b7fb-888057c67881
    I may just take the top 5 mentions, rebalance them weekly (under a low commission broker), and drop any stock no longer the top 5 (for a profit or for a loss).
    But this is not for the faint hearted, go with eyes wide open, because this is just another YOLO FOMO fad.
    If you lose it all, at least it’s a very small portion of your net worth.

    1. Very useful link. Thanks for that! Haven’t really decided on selection process, likely same as you and pick from the top few. I have been a degenerate in real life for a while, hope to repeat it for my portfolio haha. I’m know it’s all retarded, but retards together strong.

    1. I know right. Kicking myself for not buying more lol. Feeling like a boomer for holding stocks like Amazon. So much for fundamentals

      1. yup, I’m in the same boat too! haha…Amazon stock hasnt moved much although the result is great and this is a company that’s going to grow for years to come. same for MS as well~

    1. Hi, strange I went through the same steps earlier but the analytics was not shown but now I can see it. Thanks.

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