AMC Current Status (30JAN2021):
AMC has 44.6 million shorted shares and a grand total of 52 million shares. That means 86% of shares are shorted (by hedge funds) and 14% are being longed (all of us)
Now what everyone is waiting for is when shorted shares expire and they (hedge funds) have to cover what they bet on. Keep in mind not EVERY share will expire on Monday. So we MUST hold beyond that.
Friday 29th target (1/29) was to beat $8.63 (what hedge funds were betting it would become Monday) and we did that closing at $13.29! AWESOME. This short will expire in 0.5 trading days (Monday)
So Monday when they’re forced to cover ($8.63) they will have to buy it at its current price to cover their bet. Raising the price up even higher.
But this isn’t even the best part. All of their other shorts are SIGNIFICANTLY lower. There are 9 different short stocks between $1.98-$5.96. Some of those shorts are 1.9 days away (Tue) 2.5 days (Wed) 3.2 days (Thur) so the longer you hold, the higher the price gets and the more they have to cover.
Over the next few trading days it is going to be a violent squeeze. We are at the starting line of what GME did. Hold your ground. Gains Monday are inevitable. But the gains on Tuesday-Thursday will be much higher.