Fifteen Minutes, AMC, Four Percent discussed on Pop Culture Cosmos


Big money changed hands it. I think it was close to five billion dollars or not changed. Yeah did technically changed hands. If you're losing money you're changing money from hand to hand here but it was quite the ride there and i think we're not done yet. But the announcement this morning that they were going to be selling. Eleven million shares caused a little bit of an impact on the price. There was about a twenty percent hike in premarket trading prior to this morning's announcement and then they took a four percent loss which triggered a circuit breaker. And if you don't know what a circuit breaker is it's literally just a pause in the trading of that stock for think it's a predetermined amount of time it's fifteen minutes or by other words is just going crazy right now. It's crazy it's going up it's volatile. It's going all over the place you know. I think what you're seeing here. Is that retail investors. Get a little scared there. They wanted to pull that profit before they saw things disappear when amc decided to announce that they were going to be selling off eleven million shares to it was a capital group. Can't remember who it was off the top my head but you know i think that scares the retail investor when you see that the institutional investors are getting a little bit more. I don't blame them. They'll find amc. And i just come off the worst year and a half ever. I would want to sell off you know. Have that in my kitty as well. I mean that's back up the brinks truck. If that's the case and please do it at the all time high. That would be awesome. I would have done it too but again. That's the way the things are bouncing right. But there's so much interest now in these types of stocks unfortunately the pandemic of closed for good a lot of things as far as the theater chancer that they close the arclight cinemas the pacific theatres chain. Those are closed for good. They're not being brought back only if amc or regal or some other theater chain reopened them under their banner will they be to go ahead and open up and that includes the historic cinema. Dome in hollywood some hoping that somebody will be able to go ahead and open that one up. because that's historical monument to me and filmmaking. Alamo draft house is reopening up. They were on the verge of bankruptcy. Now they're thriving now they're going to open up more theaters..

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