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2021-06-23

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AMC: An Open Letter To The Apes - The Stock Market And Reality

2021-06-22

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AMC, GameStop Slide As Jim Cramer Warns 'The Iceman Cometh' on Meme Stocks

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Amc!","listText":"Amc! Amc!","text":"Amc! Amc!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/121137593","repostId":"1113795668","repostType":2,"repost":{"id":"1113795668","pubTimestamp":1624447267,"share":"https://www.laohu8.com/m/news/1113795668?lang=&edition=full","pubTime":"2021-06-23 19:21","market":"us","language":"en","title":"AMC: An Open Letter To The Apes - The Stock Market And Reality","url":"https://stock-news.laohu8.com/highlight/detail?id=1113795668","media":"seekingalpha","summary":"Summary\n\nEarnings drive stock prices over the long run, even for AMC. Here's the data.\nThe economics","content":"<p><b>Summary</b></p>\n<ul>\n <li>Earnings drive stock prices over the long run, even for AMC. Here's the data.</li>\n <li>The economics of buying an AMC movie theater rather than the stock.</li>\n <li>Shorting AMC is mostly common sense, not a conspiracy. And where investors may have to be more careful.</li>\n <li>Emotion may tell you to buy. Reason will tell you to sell.</li>\n</ul>\n<p>I’ve written two articles recently for Seeking Alpha on AMC Entertainment Holdings(NYSE:AMC), one onJune 4and one onJune 17. The comments I have gotten back in response to the articles were eye-opening for me. I feel like I’ve been let into a world I didn’t know existed. Which means that I also must seem pretty odd to the inhabitants of this ape-world. So, I’d like to explain my point of view in this open letter.</p>\n<p><b>Why I keep harping on AMC’s earnings</b></p>\n<p>One shocker to me is that literally<i>no</i>comment that disagreed with my AMC view ever challenged me on earnings. The same is true for comments on my sell calls on Zillow(NASDAQ:Z), Redfin(NASDAQ:RDFN), Rocket Companies(NYSE:RKT)and Opendoor(NASDAQ:OPEN). So, why do I keep talking about earnings?<i>Because that’s how stocks work.</i>First, common sense says that it works. A share of stock is a share ownership of a company; that’s just a fact. We start and own businesses in order to earn money.</p>\n<p>Second, history says that the relationship between earnings and stock prices exists. A few charts will illustrate this point. First, let’s compare the S&amp;P 500 index with S&amp;P 500 EPS a year ahead:</p>\n<p><img src=\"https://static.tigerbbs.com/d09e129752eec6290923863d17249487\" tg-width=\"640\" tg-height=\"426\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,Yardeni Research</i></p>\n<p>The stock market clearly moves with earnings expectations. Now, let’s look at an individual stock. I chose McDonald’s(NYSE:MCD):</p>\n<p><img src=\"https://static.tigerbbs.com/092d5bc6eb84253ba4ae6fea1f92113f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,company reports</i></p>\n<p>Once again, a clear correlation – McDonald’s earns more, investors pay more to own it. Let’s now turn to a company whose earnings prospects took a turn – GoPro(NASDAQ:GPRO):</p>\n<p><img src=\"https://static.tigerbbs.com/6cb1e3a96d4e6e70cc8cb8dbc3b4643f\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,company reports</i></p>\n<p>GoPro’s stock price leaped after its IPO on the assumption that booming sales of its cameras would send earnings soaring above its 2014 EPS of $1.32. But smartphones – the cameras in our pockets – diverted sales away from GoPro, and its EPS took a serious slide into negative territory. In response, the stock tanked. It has only recently made a modest recovery as GoPro management managed to start earning money.<i>Again, a clear link between earnings and the stock price</i>.</p>\n<p>OK, one more – company X:</p>\n<p><img src=\"https://static.tigerbbs.com/f3b9e1ded9a66995ca17edc221ddd9a6\" tg-width=\"640\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,company reports</i></p>\n<p>Another excellent correlation between earnings and stock price. This company saw some EPS growth during 2015 and 2016, but earnings then turned south. The stock price followed.</p>\n<p>Who is this company X? I bet you guessed it – AMC!<i>Up until the pandemic hit, AMC’s stock performed like other stocks – on earnings expectations. It will again.</i></p>\n<p><b>Do you want to own an AMC theater?</b></p>\n<p>Instead of owning AMC stock, how about if you owned an AMC theater? This way, you are a real business owner.</p>\n<p>At last look, AMC’s market cap is $30.5 billion. Add in about $3.5 billion of debt less cash and we’ll say that AMC’s theaters are currently valued at $34 billion. At the beginning of this year, AMC had 950 movie theaters. That means, each theater is valued today at $36 million.</p>\n<p>If you don’t borrow money to pay your $36 million, my best guess from AMC’s financials is that you’ll rake in $220,000 in profits. Not bad, right? A cool 0.6% return on your investment. A return likely to shrink over time as we spend more time streaming and less time at the movies. Or you could buy more current favorite stock MGIC(NYSE:MTG), which last year generatedcash EPS of $2.45, an 18% return on its current stock price. But you would have to give up the free movie tickets from owning a theater. Your choice. I’ve gone for the latter. 18% &gt; 0.6%.</p>\n<p><b>Is it really different this time?</b></p>\n<p>Will AMC stock continue to rise just because apes continue to put more and more money in it? Can AMC become a permanent short squeeze?</p>\n<p>I’m old. While that means my tennis game is sinking, it also has allowed me to see lots of “it’s different this time” stories. They almost never work. Gravity takes over and brings magical beliefs back to earth. The ‘80s commercial real estate boom, the ‘90s internet boom, the ‘00s housing boom, all relied on broad-based beliefs that this time was different, and if you didn’t agree, “you don’t get it”. Gravity brought all three beliefs painfully back to earth. Betting against gravity is a serious long shot.</p>\n<p><b>Is the stock market fixed?</b></p>\n<p>Lots of the comments to my articles suggested that meme investing is revenge against a financial system fixed against the little guy and gal. I consider myself to be pretty cynical, but I can’t see the stock market as a whole as fixed. Some evidence:</p>\n<ul>\n <li><i>The link I established above between earnings and stock prices.</i>This means that, in the long run, it is company performance that determines stock prices, not Wall Street.</li>\n <li><i>Mutual funds routinely underperform index funds.</i>Big fund complexes like BlackRock, T. Rowe Price and Fidelity all have highly paid analysts and portfolio managers running their money. But many studies have shown that they generally do<i>worse</i>than market averages. So, they are no better than we are.</li>\n <li><i>Hedge funds have done even worse.</i>For example,NASDAQreported that the average hedge fund earned 11% in 2020, well below the S&amp;P 500 18% return. And they did far worse in 2019 – up 10% compared to +31% for the S&amp;P 500. My belief is that hedge funds have too much money chasing a small group of trades. Now, hedge fund<i>managers</i>can make obscene amounts of money because of their lucrative 2%/20% compensation structure. That’s another story. But hedge fund investors have been left behind.</li>\n <li><i>Wall Street is blanketed with regulations aimed at levelling the playing field.</i>There are rules against insider trading, selectively disseminating material information and many other forms of bad behavior. Of course, smart people can and do slip by some rules, but rampant cheating is quite difficult to achieve.</li>\n</ul>\n<p><b>Are short sellers lying to support their positions?</b></p>\n<p>There certainly are cases of this, but a far simpler answer explains why GameStop(NYSE:GME)and AMC are short targets. Come on – both are store-based businesses in an increasingly online world, right? With several years of losses behind them already. Blockbuster, Sears, Pier One… shorting the Old Economy is not rocket science.</p>\n<p>But how are potential investors in these New Age companies supposed to deal with these dramatic claims?</p>\n<p>Zillow. From its10-K:</p>\n<blockquote>\n “ \n <i>As we continue to expand into transaction-related services, our Total Addressable Market [TAM] has expanded from $19 billion in U.S. real estate related advertising…to $2.2 trillion of annual home sales…</i>”\n</blockquote>\n<p>Sounds awesome, right? $2.2&nbsp;<i>trillion</i>&nbsp;of potential revenues for Zillow. Except if home sellers expect to keep some of the proceeds of their home sales. In fact, the average real estate commission is 4.5%, giving Zillow an actual TAM of $100 billion. $100 billion &lt; $2.2 trillion. By a<i>lot.</i></p>\n<p>Rocket Mortgage. From itsQ1 earnings conference call:</p>\n<blockquote>\n “ \n <i>As we continue to expand our platform, creating certainty for clients in categories that have historically been challenging, the opportunity for Rocket Companies is gigantic. Consider this; when combined real estate, automotive sales and financial services, all markets where we're helping to lead the way, account for nearly one third of the US GDP</i>.” (My highlighting)\n</blockquote>\n<p>Wow! Amazon&nbsp;(NASDAQ:AMZN)&nbsp;will soon be a blip in Rocket’s rear-view mirror if I believe any of this. By the way, check out Rocket’s insider sales while management is dishing out this hype.</p>\n<p><b>Emotions versus reason</b></p>\n<p>I see a lot of anger, frustration, and revenge in the AMC comments. Life stinks a lot, so I get the rationale for these emotions. But I have learned that emotions are the enemy of successful investing.<i>Any</i>emotions, ranging from fear to enthusiasm. Rational thinking about a company’s value, or even (not my style) investors’ moods, has proven to work better.</p>\n<p>All of us primates, human and ape, are heavily driven by emotions (even me!), so we are never going to squeeze all of them out of our investment decisions. But the more squeezing, the better.</p>\n<p><b>All of the above says “Sell AMC”</b></p>\n<ul>\n <li>AMC’s earnings prospects can’t come close to supporting the current stock price. Gravity will do its job.</li>\n <li>If you don’t want to own a movie theater, don’t own the stock.</li>\n <li>AMC short sellers are driven more by common sense than by some conspiracy.</li>\n <li>AMC’s stock price contains an enormous emotional content, and a change in those fickle emotions will change the stock price quickly.</li>\n</ul>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC: An Open Letter To The Apes - The Stock Market And Reality</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC: An Open Letter To The Apes - The Stock Market And Reality\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 19:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436112-amc-stock-open-letter-to-apes-stock-market-and-reality><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nEarnings drive stock prices over the long run, even for AMC. Here's the data.\nThe economics of buying an AMC movie theater rather than the stock.\nShorting AMC is mostly common sense, not a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436112-amc-stock-open-letter-to-apes-stock-market-and-reality\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://seekingalpha.com/article/4436112-amc-stock-open-letter-to-apes-stock-market-and-reality","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1113795668","content_text":"Summary\n\nEarnings drive stock prices over the long run, even for AMC. Here's the data.\nThe economics of buying an AMC movie theater rather than the stock.\nShorting AMC is mostly common sense, not a conspiracy. And where investors may have to be more careful.\nEmotion may tell you to buy. Reason will tell you to sell.\n\nI’ve written two articles recently for Seeking Alpha on AMC Entertainment Holdings(NYSE:AMC), one onJune 4and one onJune 17. The comments I have gotten back in response to the articles were eye-opening for me. I feel like I’ve been let into a world I didn’t know existed. Which means that I also must seem pretty odd to the inhabitants of this ape-world. So, I’d like to explain my point of view in this open letter.\nWhy I keep harping on AMC’s earnings\nOne shocker to me is that literallynocomment that disagreed with my AMC view ever challenged me on earnings. The same is true for comments on my sell calls on Zillow(NASDAQ:Z), Redfin(NASDAQ:RDFN), Rocket Companies(NYSE:RKT)and Opendoor(NASDAQ:OPEN). So, why do I keep talking about earnings?Because that’s how stocks work.First, common sense says that it works. A share of stock is a share ownership of a company; that’s just a fact. We start and own businesses in order to earn money.\nSecond, history says that the relationship between earnings and stock prices exists. A few charts will illustrate this point. First, let’s compare the S&P 500 index with S&P 500 EPS a year ahead:\n\nSources:Yahoo Finance,Yardeni Research\nThe stock market clearly moves with earnings expectations. Now, let’s look at an individual stock. I chose McDonald’s(NYSE:MCD):\n\nSources:Yahoo Finance,company reports\nOnce again, a clear correlation – McDonald’s earns more, investors pay more to own it. Let’s now turn to a company whose earnings prospects took a turn – GoPro(NASDAQ:GPRO):\n\nSources:Yahoo Finance,company reports\nGoPro’s stock price leaped after its IPO on the assumption that booming sales of its cameras would send earnings soaring above its 2014 EPS of $1.32. But smartphones – the cameras in our pockets – diverted sales away from GoPro, and its EPS took a serious slide into negative territory. In response, the stock tanked. It has only recently made a modest recovery as GoPro management managed to start earning money.Again, a clear link between earnings and the stock price.\nOK, one more – company X:\n\nSources:Yahoo Finance,company reports\nAnother excellent correlation between earnings and stock price. This company saw some EPS growth during 2015 and 2016, but earnings then turned south. The stock price followed.\nWho is this company X? I bet you guessed it – AMC!Up until the pandemic hit, AMC’s stock performed like other stocks – on earnings expectations. It will again.\nDo you want to own an AMC theater?\nInstead of owning AMC stock, how about if you owned an AMC theater? This way, you are a real business owner.\nAt last look, AMC’s market cap is $30.5 billion. Add in about $3.5 billion of debt less cash and we’ll say that AMC’s theaters are currently valued at $34 billion. At the beginning of this year, AMC had 950 movie theaters. That means, each theater is valued today at $36 million.\nIf you don’t borrow money to pay your $36 million, my best guess from AMC’s financials is that you’ll rake in $220,000 in profits. Not bad, right? A cool 0.6% return on your investment. A return likely to shrink over time as we spend more time streaming and less time at the movies. Or you could buy more current favorite stock MGIC(NYSE:MTG), which last year generatedcash EPS of $2.45, an 18% return on its current stock price. But you would have to give up the free movie tickets from owning a theater. Your choice. I’ve gone for the latter. 18% > 0.6%.\nIs it really different this time?\nWill AMC stock continue to rise just because apes continue to put more and more money in it? Can AMC become a permanent short squeeze?\nI’m old. While that means my tennis game is sinking, it also has allowed me to see lots of “it’s different this time” stories. They almost never work. Gravity takes over and brings magical beliefs back to earth. The ‘80s commercial real estate boom, the ‘90s internet boom, the ‘00s housing boom, all relied on broad-based beliefs that this time was different, and if you didn’t agree, “you don’t get it”. Gravity brought all three beliefs painfully back to earth. Betting against gravity is a serious long shot.\nIs the stock market fixed?\nLots of the comments to my articles suggested that meme investing is revenge against a financial system fixed against the little guy and gal. I consider myself to be pretty cynical, but I can’t see the stock market as a whole as fixed. Some evidence:\n\nThe link I established above between earnings and stock prices.This means that, in the long run, it is company performance that determines stock prices, not Wall Street.\nMutual funds routinely underperform index funds.Big fund complexes like BlackRock, T. Rowe Price and Fidelity all have highly paid analysts and portfolio managers running their money. But many studies have shown that they generally doworsethan market averages. So, they are no better than we are.\nHedge funds have done even worse.For example,NASDAQreported that the average hedge fund earned 11% in 2020, well below the S&P 500 18% return. And they did far worse in 2019 – up 10% compared to +31% for the S&P 500. My belief is that hedge funds have too much money chasing a small group of trades. Now, hedge fundmanagerscan make obscene amounts of money because of their lucrative 2%/20% compensation structure. That’s another story. But hedge fund investors have been left behind.\nWall Street is blanketed with regulations aimed at levelling the playing field.There are rules against insider trading, selectively disseminating material information and many other forms of bad behavior. Of course, smart people can and do slip by some rules, but rampant cheating is quite difficult to achieve.\n\nAre short sellers lying to support their positions?\nThere certainly are cases of this, but a far simpler answer explains why GameStop(NYSE:GME)and AMC are short targets. Come on – both are store-based businesses in an increasingly online world, right? With several years of losses behind them already. Blockbuster, Sears, Pier One… shorting the Old Economy is not rocket science.\nBut how are potential investors in these New Age companies supposed to deal with these dramatic claims?\nZillow. From its10-K:\n\n “ \n As we continue to expand into transaction-related services, our Total Addressable Market [TAM] has expanded from $19 billion in U.S. real estate related advertising…to $2.2 trillion of annual home sales…”\n\nSounds awesome, right? $2.2 trillion of potential revenues for Zillow. Except if home sellers expect to keep some of the proceeds of their home sales. In fact, the average real estate commission is 4.5%, giving Zillow an actual TAM of $100 billion. $100 billion < $2.2 trillion. By alot.\nRocket Mortgage. From itsQ1 earnings conference call:\n\n “ \n As we continue to expand our platform, creating certainty for clients in categories that have historically been challenging, the opportunity for Rocket Companies is gigantic. Consider this; when combined real estate, automotive sales and financial services, all markets where we're helping to lead the way, account for nearly one third of the US GDP.” (My highlighting)\n\nWow! Amazon (NASDAQ:AMZN) will soon be a blip in Rocket’s rear-view mirror if I believe any of this. By the way, check out Rocket’s insider sales while management is dishing out this hype.\nEmotions versus reason\nI see a lot of anger, frustration, and revenge in the AMC comments. Life stinks a lot, so I get the rationale for these emotions. But I have learned that emotions are the enemy of successful investing.Anyemotions, ranging from fear to enthusiasm. Rational thinking about a company’s value, or even (not my style) investors’ moods, has proven to work better.\nAll of us primates, human and ape, are heavily driven by emotions (even me!), so we are never going to squeeze all of them out of our investment decisions. But the more squeezing, the better.\nAll of the above says “Sell AMC”\n\nAMC’s earnings prospects can’t come close to supporting the current stock price. Gravity will do its job.\nIf you don’t want to own a movie theater, don’t own the stock.\nAMC short sellers are driven more by common sense than by some conspiracy.\nAMC’s stock price contains an enormous emotional content, and a change in those fickle emotions will change the stock price quickly.","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129088342,"gmtCreate":1624344259086,"gmtModify":1703834022415,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Gogogog","listText":"Gogogog","text":"Gogogog","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129088342","repostId":"1135948909","repostType":2,"repost":{"id":"1135948909","pubTimestamp":1624321371,"share":"https://www.laohu8.com/m/news/1135948909?lang=&edition=full","pubTime":"2021-06-22 08:22","market":"us","language":"en","title":"AMC, GameStop Slide As Jim Cramer Warns 'The Iceman Cometh' on Meme Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1135948909","media":"thestreet","summary":"AMC Entertainment (AMC) -Get Report shares slumped lower Monday, following a 20% gain last week that","content":"<p>AMC Entertainment&nbsp;(<b>AMC</b>) -Get Report&nbsp;shares slumped lower Monday, following a 20% gain last week that lifted the cinema chain's value close to $30 billion, as the two most active meme stock names continue to dominate Reddit-retail trading.</p>\n<p><i>TheStreet's</i>founder Jim Cramer, however, cautioned Monday that the ability of meme-powered investors to boost stock prices could fade in the coming weeks, citing a series of failed recommendations from discussions on the r/wallstreetbets chatroom in Reddit.</p>\n<p>Cramer noted that recent pullbacks in Wendy's&nbsp;(<b>WEN</b>) -Get Report, Bed Bath &amp; Beyond&nbsp;(<b>BBBY</b>) -Get Report&nbsp;and Cleveland Cliffs&nbsp;(<b>CLF</b>) -Get Report&nbsp;-- all of which have benefited from either a meme-drive retail surge or an attempt to squeeze investors betting against the stock -- suggest a retrenchment of influence back to the two stocks that started this year's phenomena: AMC and GameStop&nbsp;(<b>GME</b>) -Get Report.</p>\n<p>With both stocks, however, Cramer says the only real bet is that CEO Adam Aron of AMC and Chairman Ryan Cohen of GameStop can raise enough money from the sale of shares to buy a sector rival and revive their failing businesses.</p>\n<p>AMC, which unveiled plans to sell 12 million new shares earlier this month after placing a further 8.5 million shares with hedge fund Mudrick Capital is looking for approval to sell 25 million shares at some point next year in order to fund potential 'value creating' investment opportunities.</p>\n<p>GameStop, meanwhile, said it plans to sell up to 5 million shares in an \"at-the-market\" offering, noting it will use the capital for \"general corporate purposes\" and investing in \"growth initiatives\" following a first quarter loss.</p>\n<p>\"Right now AMC is a $30 billion company with very little hope that it can survive unless it monetizes the meme support, which his exactly what it should do,\" Cramer said in hisReal Money Column Monday. \"&nbsp;GameStop needs a brilliant plan and while Cohen has brought in brilliant people, the issue is what is the company going to be? It can’t be what it is. No industry insider thinks that is possible.\"</p>\n<p>AMC shares were marked 8.5%&nbsp; lower in mid-day trading Monday to change hands at $54.30 each, a move that would take the stock's one-month gain to around 350%.</p>\n<p>GameStop shares slumped 7.2% lower to $198.40 each, a gain of 12.5% from last month's levels.</p>\n<p>Data from theYolosocks.livewebsite, which tracks real-time mentions on stocks within Reddit's r/wallstreetbets chatroom, indicates that AMC is still the most-discussed stock among users over the past 24 hours and more than 777 mentions.</p>\n<p>Short interest in AMC shares remains elevated, however, with data from S3 Partners pegging it at 68.83 million. That represents around 13.8% of the outstanding float, or just under $4 billion in market value.</p>\n<p>For GameStop. short interest is around 11.5 million shares, or 19.9% of the outstanding float, pegging bets against the money-losing retailer at $2.64 billion.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC, GameStop Slide As Jim Cramer Warns 'The Iceman Cometh' on Meme Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC, GameStop Slide As Jim Cramer Warns 'The Iceman Cometh' on Meme Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 08:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/amc-rises-meme-stocks-hold-gains-jim-cramer-warns-iceman-cometh?puc=yahoo&cm_ven=YAHOO><strong>thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AMC Entertainment (AMC) -Get Report shares slumped lower Monday, following a 20% gain last week that lifted the cinema chain's value close to $30 billion, as the two most active meme stock names ...</p>\n\n<a href=\"https://www.thestreet.com/investing/amc-rises-meme-stocks-hold-gains-jim-cramer-warns-iceman-cometh?puc=yahoo&cm_ven=YAHOO\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","AMC":"AMC院线"},"source_url":"https://www.thestreet.com/investing/amc-rises-meme-stocks-hold-gains-jim-cramer-warns-iceman-cometh?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135948909","content_text":"AMC Entertainment (AMC) -Get Report shares slumped lower Monday, following a 20% gain last week that lifted the cinema chain's value close to $30 billion, as the two most active meme stock names continue to dominate Reddit-retail trading.\nTheStreet'sfounder Jim Cramer, however, cautioned Monday that the ability of meme-powered investors to boost stock prices could fade in the coming weeks, citing a series of failed recommendations from discussions on the r/wallstreetbets chatroom in Reddit.\nCramer noted that recent pullbacks in Wendy's (WEN) -Get Report, Bed Bath & Beyond (BBBY) -Get Report and Cleveland Cliffs (CLF) -Get Report -- all of which have benefited from either a meme-drive retail surge or an attempt to squeeze investors betting against the stock -- suggest a retrenchment of influence back to the two stocks that started this year's phenomena: AMC and GameStop (GME) -Get Report.\nWith both stocks, however, Cramer says the only real bet is that CEO Adam Aron of AMC and Chairman Ryan Cohen of GameStop can raise enough money from the sale of shares to buy a sector rival and revive their failing businesses.\nAMC, which unveiled plans to sell 12 million new shares earlier this month after placing a further 8.5 million shares with hedge fund Mudrick Capital is looking for approval to sell 25 million shares at some point next year in order to fund potential 'value creating' investment opportunities.\nGameStop, meanwhile, said it plans to sell up to 5 million shares in an \"at-the-market\" offering, noting it will use the capital for \"general corporate purposes\" and investing in \"growth initiatives\" following a first quarter loss.\n\"Right now AMC is a $30 billion company with very little hope that it can survive unless it monetizes the meme support, which his exactly what it should do,\" Cramer said in hisReal Money Column Monday. \" GameStop needs a brilliant plan and while Cohen has brought in brilliant people, the issue is what is the company going to be? It can’t be what it is. No industry insider thinks that is possible.\"\nAMC shares were marked 8.5%  lower in mid-day trading Monday to change hands at $54.30 each, a move that would take the stock's one-month gain to around 350%.\nGameStop shares slumped 7.2% lower to $198.40 each, a gain of 12.5% from last month's levels.\nData from theYolosocks.livewebsite, which tracks real-time mentions on stocks within Reddit's r/wallstreetbets chatroom, indicates that AMC is still the most-discussed stock among users over the past 24 hours and more than 777 mentions.\nShort interest in AMC shares remains elevated, however, with data from S3 Partners pegging it at 68.83 million. That represents around 13.8% of the outstanding float, or just under $4 billion in market value.\nFor GameStop. short interest is around 11.5 million shares, or 19.9% of the outstanding float, pegging bets against the money-losing retailer at $2.64 billion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129014013,"gmtCreate":1624343621632,"gmtModify":1703834014319,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129014013","repostId":"2145703342","repostType":2,"repost":{"id":"2145703342","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624326025,"share":"https://www.laohu8.com/m/news/2145703342?lang=&edition=full","pubTime":"2021-06-22 09:40","market":"us","language":"en","title":"Soho House plans New York IPO to raise up to $100 million","url":"https://stock-news.laohu8.com/highlight/detail?id=2145703342","media":"Reuters","summary":"LONDON, June 21 (Reuters) - The Soho House private members club plans an initial public offering in ","content":"<p>LONDON, June 21 (Reuters) - The Soho House private members club plans an initial public offering in New York under the name of Membership Collective Group Inc. to raise up to $100 million.</p>\n<p>\"Soho House has begun the process for an initial public offering on the New York Stock Exchange, with plans to list a company that will be known as the Membership Collective Group Inc., or MCG for short,\" founder Nick Jones said in an email seen by Reuters.</p>\n<p>\"This move will enable us to accelerate our investment in improving both the physical and digital elements of your membership,\" he said.</p>\n<p>J.P.Morgan and <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> will serve as joint lead book runners for the proposed offering. Goldman Sachs, Bank of America and HSBC will be joint book runners. Citibank and William Blair will serve as a co-managers.</p>\n<p>MCG began operating as Soho House in 1995 and now has members across physical and digital spaces, including Soho Houses, The Ned in London as well as Scorpios Beach Club in Mykonos.</p>\n<p>As of April 4, the group had over 119,000 members.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Soho House plans New York IPO to raise up to $100 million</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoho House plans New York IPO to raise up to $100 million\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-22 09:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, June 21 (Reuters) - The Soho House private members club plans an initial public offering in New York under the name of Membership Collective Group Inc. to raise up to $100 million.</p>\n<p>\"Soho House has begun the process for an initial public offering on the New York Stock Exchange, with plans to list a company that will be known as the Membership Collective Group Inc., or MCG for short,\" founder Nick Jones said in an email seen by Reuters.</p>\n<p>\"This move will enable us to accelerate our investment in improving both the physical and digital elements of your membership,\" he said.</p>\n<p>J.P.Morgan and <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> will serve as joint lead book runners for the proposed offering. Goldman Sachs, Bank of America and HSBC will be joint book runners. Citibank and William Blair will serve as a co-managers.</p>\n<p>MCG began operating as Soho House in 1995 and now has members across physical and digital spaces, including Soho Houses, The Ned in London as well as Scorpios Beach Club in Mykonos.</p>\n<p>As of April 4, the group had over 119,000 members.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利","BAC":"美国银行","C":"花旗","NGD":"New Gold","GS":"高盛"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145703342","content_text":"LONDON, June 21 (Reuters) - The Soho House private members club plans an initial public offering in New York under the name of Membership Collective Group Inc. to raise up to $100 million.\n\"Soho House has begun the process for an initial public offering on the New York Stock Exchange, with plans to list a company that will be known as the Membership Collective Group Inc., or MCG for short,\" founder Nick Jones said in an email seen by Reuters.\n\"This move will enable us to accelerate our investment in improving both the physical and digital elements of your membership,\" he said.\nJ.P.Morgan and Morgan Stanley will serve as joint lead book runners for the proposed offering. Goldman Sachs, Bank of America and HSBC will be joint book runners. Citibank and William Blair will serve as a co-managers.\nMCG began operating as Soho House in 1995 and now has members across physical and digital spaces, including Soho Houses, The Ned in London as well as Scorpios Beach Club in Mykonos.\nAs of April 4, the group had over 119,000 members.","news_type":1},"isVote":1,"tweetType":1,"viewCount":221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129015510,"gmtCreate":1624343606030,"gmtModify":1703834013836,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hm...","listText":"Hm...","text":"Hm...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129015510","repostId":"2145968037","repostType":2,"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129015952,"gmtCreate":1624343581876,"gmtModify":1703834012864,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hm...","listText":"Hm...","text":"Hm...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129015952","repostId":"2145030271","repostType":2,"repost":{"id":"2145030271","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624338005,"share":"https://www.laohu8.com/m/news/2145030271?lang=&edition=full","pubTime":"2021-06-22 13:00","market":"us","language":"en","title":"EXPLAINER-What's happening with Tesla's $7 billion German 'gigafactory'?","url":"https://stock-news.laohu8.com/highlight/detail?id=2145030271","media":"Reuters","summary":"By Nadine Schimroszik and Christoph Steitz   GRUENHEIDE, Germany, June 22 (Reuters) - Next Thursday,","content":"<html><body><p>By Nadine Schimroszik and Christoph Steitz</p><p>   GRUENHEIDE, Germany, June 22 (Reuters) - Next Thursday, July 1, was supposed to be a day of celebration for Tesla: the opening of its self-styled \"gigafactory\" in the tranquil German municipality of Gruenheide, just outside Berlin.</p><p>   But thanks to fierce environmental resistance, red tape and planning tweaks it is completely unclear when the first vehicles will roll off the production line of the electric carmaker's first European factory.</p><p>   Tesla    has already pushed back the expected opening to late 2021. Yet the environmental agency in Brandenburg, the state where the 5.8 billion euro ($6.9 billion) plant is being built, has still not given final approval - meaning a further delay cannot be ruled out, even into 2022.</p><p>   WHAT'S THE PROBLEM? </p><p>   It's complicated.</p><p>   Tesla and its billionaire boss Elon Musk unveiled plans in late 2019 to build the factory.</p><p>   However the site partly overlaps a drinking water protection zone and borders on a nature reserve, which has drawn heavy opposition from local residents and environmental groups.</p><p>   Last year, Tesla had to suspend clearing of a forest at the site after environmentalists from local group Nabu highlighted the risk posed to a rare local snake species whose winter slumber could be disturbed by tree-cutting activity.</p><p>   The snakes had to be rescued before Tesla could proceed but there have been numerous other efforts to stop work at the site on environmental grounds.</p><p>   \"Thousands of hectares of forest will be cleared to create the needed infrastructure and housing space,\" said Manuela Hoyer, who lives about 9 km from the site and is a member of a local campaign opposed to it.</p><p>   \"To build such a plant in a protected drinking water area is actually a crime against the environment.\"</p><p>   Her comments reflects a broader trend in Germany that has also seen renewable projects, such as wind farms, coming under fire from residents that fear the impact on the local habitat.</p><p>   IS THAT REALLY IT?</p><p>   No.</p><p>   Bureaucracy has been a headache for Tesla, too, pitting the company's hands-on approach against Germany's infamous red tape.</p><p>   So far, Tesla is working based on preliminary construction permits, with large factory halls and structures already built on the 740 acres of land it bought for 43.4 million euros.</p><p>   But only when Brandenburg's State Environmental Agency provides the final permit can the plant be opened.</p><p>   While it has previously said that it cannot say when that is every project that has obtained preliminary permits in Brandenburg eventually received the final ok.</p><p>   But that's not discouraging environmentalists from throwing spanners in the works.</p><p>   Last week Gruene Liga and Nabu submitted an injunction to a German court against provisional building permits for site, in the latest attempt to ensure Tesla is adhering to environmental laws.  </p><p>   \"I think there could be less bureaucracy, that would be better,\" Musk said during his last visit to Gruenheide in May, markedly less enthusiastic than his \"Deutschland rocks\" verdict eight months earlier.</p><p>   THE BATTERY CELL PLANT</p><p>   Tesla's construction plans had to be fully resubmitted earlier this month to reflect the addition of battery cell production to the site, costing valuable months.  </p><p>   The Gruenheide plant comprises several units to handle component manufacturing and final vehicle assembly, including a press shop, foundry and body production.</p><p>   It also includes a water recycling facility, a local fire brigade as well as a depot to ensure more efficient transport of components and other goods. Under the plans, the site's power needs are to be met via local renewable energy sources.</p><p>   But adding battery cell production meant the company had to tweak and refile the whole application. Based on the most recent version, the plant will have the capacity to produce 500 million cells totalling 50 gigawatt hours (GWh) a year. </p><p>   That's more than the 40 GWh facility rival Volkswagen</p><p>  plans to set up about 300 kilometres west in Salzgitter near its home base.</p><p>   DOES ANYONE SUPPORT THE FACTORY (APART FROM ELON)?</p><p>   Yes.</p><p>   Tesla's move is seen as a major boost to eastern Germany, which has struggled with high unemployment rates and difficulties to attract large industrial firms.</p><p>   Once fully up and running, the plant, which Tesla said will be the \"most advanced high-volume electric vehicle production plant in the world\", is expected to create 12,000 jobs and have a capacity of up to 500,000 cars a year.</p><p>   \"We're in favour of a shift towards emission-free mobility and the cars needed to achieve that must be built somewhere,\" said Ralf Schmilewski, a member of the Greens Party in Gruenheide's neighbouring town Erkner.</p><p>   He said Tesla's plans also address a demographical issue, which has seen younger generations to leave the structurally weak area in their desperate search for jobs.</p><p>   \"Now they have a perspective and don't have to move.\"</p><p>   SO WHAT'S NEXT?</p><p>   Until mid-July, members of the public can sift through the roughly 11,000 pages of Tesla's application documents, including blueprints, tables and calculations, in the town hall of Gruenheide, the third time they have been put on display.</p><p>   As part of the process, anyone can file objections until Aug. 16, before the Brandenburg environmental agency decides whether a public discussion should take place on Sept. 13.</p><p>   When the documents were last made available publicly, in 2020, more than 400 objections were raised.</p><p>   After that there is no clear timeline. At some point the agency is expected to grant final approval - but when is anyone's guess.</p><p>   ($1 = 0.8410 euros)</p><p> (Reporting by Nadine Schimroszik and Christoph Steitz; Editing by Pravin Char)</p><p>((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EXPLAINER-What's happening with Tesla's $7 billion German 'gigafactory'?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEXPLAINER-What's happening with Tesla's $7 billion German 'gigafactory'?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-22 13:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>By Nadine Schimroszik and Christoph Steitz</p><p>   GRUENHEIDE, Germany, June 22 (Reuters) - Next Thursday, July 1, was supposed to be a day of celebration for Tesla: the opening of its self-styled \"gigafactory\" in the tranquil German municipality of Gruenheide, just outside Berlin.</p><p>   But thanks to fierce environmental resistance, red tape and planning tweaks it is completely unclear when the first vehicles will roll off the production line of the electric carmaker's first European factory.</p><p>   Tesla    has already pushed back the expected opening to late 2021. Yet the environmental agency in Brandenburg, the state where the 5.8 billion euro ($6.9 billion) plant is being built, has still not given final approval - meaning a further delay cannot be ruled out, even into 2022.</p><p>   WHAT'S THE PROBLEM? </p><p>   It's complicated.</p><p>   Tesla and its billionaire boss Elon Musk unveiled plans in late 2019 to build the factory.</p><p>   However the site partly overlaps a drinking water protection zone and borders on a nature reserve, which has drawn heavy opposition from local residents and environmental groups.</p><p>   Last year, Tesla had to suspend clearing of a forest at the site after environmentalists from local group Nabu highlighted the risk posed to a rare local snake species whose winter slumber could be disturbed by tree-cutting activity.</p><p>   The snakes had to be rescued before Tesla could proceed but there have been numerous other efforts to stop work at the site on environmental grounds.</p><p>   \"Thousands of hectares of forest will be cleared to create the needed infrastructure and housing space,\" said Manuela Hoyer, who lives about 9 km from the site and is a member of a local campaign opposed to it.</p><p>   \"To build such a plant in a protected drinking water area is actually a crime against the environment.\"</p><p>   Her comments reflects a broader trend in Germany that has also seen renewable projects, such as wind farms, coming under fire from residents that fear the impact on the local habitat.</p><p>   IS THAT REALLY IT?</p><p>   No.</p><p>   Bureaucracy has been a headache for Tesla, too, pitting the company's hands-on approach against Germany's infamous red tape.</p><p>   So far, Tesla is working based on preliminary construction permits, with large factory halls and structures already built on the 740 acres of land it bought for 43.4 million euros.</p><p>   But only when Brandenburg's State Environmental Agency provides the final permit can the plant be opened.</p><p>   While it has previously said that it cannot say when that is every project that has obtained preliminary permits in Brandenburg eventually received the final ok.</p><p>   But that's not discouraging environmentalists from throwing spanners in the works.</p><p>   Last week Gruene Liga and Nabu submitted an injunction to a German court against provisional building permits for site, in the latest attempt to ensure Tesla is adhering to environmental laws.  </p><p>   \"I think there could be less bureaucracy, that would be better,\" Musk said during his last visit to Gruenheide in May, markedly less enthusiastic than his \"Deutschland rocks\" verdict eight months earlier.</p><p>   THE BATTERY CELL PLANT</p><p>   Tesla's construction plans had to be fully resubmitted earlier this month to reflect the addition of battery cell production to the site, costing valuable months.  </p><p>   The Gruenheide plant comprises several units to handle component manufacturing and final vehicle assembly, including a press shop, foundry and body production.</p><p>   It also includes a water recycling facility, a local fire brigade as well as a depot to ensure more efficient transport of components and other goods. Under the plans, the site's power needs are to be met via local renewable energy sources.</p><p>   But adding battery cell production meant the company had to tweak and refile the whole application. Based on the most recent version, the plant will have the capacity to produce 500 million cells totalling 50 gigawatt hours (GWh) a year. </p><p>   That's more than the 40 GWh facility rival Volkswagen</p><p>  plans to set up about 300 kilometres west in Salzgitter near its home base.</p><p>   DOES ANYONE SUPPORT THE FACTORY (APART FROM ELON)?</p><p>   Yes.</p><p>   Tesla's move is seen as a major boost to eastern Germany, which has struggled with high unemployment rates and difficulties to attract large industrial firms.</p><p>   Once fully up and running, the plant, which Tesla said will be the \"most advanced high-volume electric vehicle production plant in the world\", is expected to create 12,000 jobs and have a capacity of up to 500,000 cars a year.</p><p>   \"We're in favour of a shift towards emission-free mobility and the cars needed to achieve that must be built somewhere,\" said Ralf Schmilewski, a member of the Greens Party in Gruenheide's neighbouring town Erkner.</p><p>   He said Tesla's plans also address a demographical issue, which has seen younger generations to leave the structurally weak area in their desperate search for jobs.</p><p>   \"Now they have a perspective and don't have to move.\"</p><p>   SO WHAT'S NEXT?</p><p>   Until mid-July, members of the public can sift through the roughly 11,000 pages of Tesla's application documents, including blueprints, tables and calculations, in the town hall of Gruenheide, the third time they have been put on display.</p><p>   As part of the process, anyone can file objections until Aug. 16, before the Brandenburg environmental agency decides whether a public discussion should take place on Sept. 13.</p><p>   When the documents were last made available publicly, in 2020, more than 400 objections were raised.</p><p>   After that there is no clear timeline. At some point the agency is expected to grant final approval - but when is anyone's guess.</p><p>   ($1 = 0.8410 euros)</p><p> (Reporting by Nadine Schimroszik and Christoph Steitz; Editing by Pravin Char)</p><p>((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145030271","content_text":"By Nadine Schimroszik and Christoph Steitz   GRUENHEIDE, Germany, June 22 (Reuters) - Next Thursday, July 1, was supposed to be a day of celebration for Tesla: the opening of its self-styled \"gigafactory\" in the tranquil German municipality of Gruenheide, just outside Berlin.   But thanks to fierce environmental resistance, red tape and planning tweaks it is completely unclear when the first vehicles will roll off the production line of the electric carmaker's first European factory.   Tesla    has already pushed back the expected opening to late 2021. Yet the environmental agency in Brandenburg, the state where the 5.8 billion euro ($6.9 billion) plant is being built, has still not given final approval - meaning a further delay cannot be ruled out, even into 2022.   WHAT'S THE PROBLEM?    It's complicated.   Tesla and its billionaire boss Elon Musk unveiled plans in late 2019 to build the factory.   However the site partly overlaps a drinking water protection zone and borders on a nature reserve, which has drawn heavy opposition from local residents and environmental groups.   Last year, Tesla had to suspend clearing of a forest at the site after environmentalists from local group Nabu highlighted the risk posed to a rare local snake species whose winter slumber could be disturbed by tree-cutting activity.   The snakes had to be rescued before Tesla could proceed but there have been numerous other efforts to stop work at the site on environmental grounds.   \"Thousands of hectares of forest will be cleared to create the needed infrastructure and housing space,\" said Manuela Hoyer, who lives about 9 km from the site and is a member of a local campaign opposed to it.   \"To build such a plant in a protected drinking water area is actually a crime against the environment.\"   Her comments reflects a broader trend in Germany that has also seen renewable projects, such as wind farms, coming under fire from residents that fear the impact on the local habitat.   IS THAT REALLY IT?   No.   Bureaucracy has been a headache for Tesla, too, pitting the company's hands-on approach against Germany's infamous red tape.   So far, Tesla is working based on preliminary construction permits, with large factory halls and structures already built on the 740 acres of land it bought for 43.4 million euros.   But only when Brandenburg's State Environmental Agency provides the final permit can the plant be opened.   While it has previously said that it cannot say when that is every project that has obtained preliminary permits in Brandenburg eventually received the final ok.   But that's not discouraging environmentalists from throwing spanners in the works.   Last week Gruene Liga and Nabu submitted an injunction to a German court against provisional building permits for site, in the latest attempt to ensure Tesla is adhering to environmental laws.     \"I think there could be less bureaucracy, that would be better,\" Musk said during his last visit to Gruenheide in May, markedly less enthusiastic than his \"Deutschland rocks\" verdict eight months earlier.   THE BATTERY CELL PLANT   Tesla's construction plans had to be fully resubmitted earlier this month to reflect the addition of battery cell production to the site, costing valuable months.     The Gruenheide plant comprises several units to handle component manufacturing and final vehicle assembly, including a press shop, foundry and body production.   It also includes a water recycling facility, a local fire brigade as well as a depot to ensure more efficient transport of components and other goods. Under the plans, the site's power needs are to be met via local renewable energy sources.   But adding battery cell production meant the company had to tweak and refile the whole application. Based on the most recent version, the plant will have the capacity to produce 500 million cells totalling 50 gigawatt hours (GWh) a year.    That's more than the 40 GWh facility rival Volkswagen  plans to set up about 300 kilometres west in Salzgitter near its home base.   DOES ANYONE SUPPORT THE FACTORY (APART FROM ELON)?   Yes.   Tesla's move is seen as a major boost to eastern Germany, which has struggled with high unemployment rates and difficulties to attract large industrial firms.   Once fully up and running, the plant, which Tesla said will be the \"most advanced high-volume electric vehicle production plant in the world\", is expected to create 12,000 jobs and have a capacity of up to 500,000 cars a year.   \"We're in favour of a shift towards emission-free mobility and the cars needed to achieve that must be built somewhere,\" said Ralf Schmilewski, a member of the Greens Party in Gruenheide's neighbouring town Erkner.   He said Tesla's plans also address a demographical issue, which has seen younger generations to leave the structurally weak area in their desperate search for jobs.   \"Now they have a perspective and don't have to move.\"   SO WHAT'S NEXT?   Until mid-July, members of the public can sift through the roughly 11,000 pages of Tesla's application documents, including blueprints, tables and calculations, in the town hall of Gruenheide, the third time they have been put on display.   As part of the process, anyone can file objections until Aug. 16, before the Brandenburg environmental agency decides whether a public discussion should take place on Sept. 13.   When the documents were last made available publicly, in 2020, more than 400 objections were raised.   After that there is no clear timeline. At some point the agency is expected to grant final approval - but when is anyone's guess.   ($1 = 0.8410 euros) (Reporting by Nadine Schimroszik and Christoph Steitz; Editing by Pravin Char)((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":121137593,"gmtCreate":1624456384712,"gmtModify":1703837256634,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Amc! Amc!","listText":"Amc! Amc!","text":"Amc! Amc!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/121137593","repostId":"1113795668","repostType":2,"repost":{"id":"1113795668","pubTimestamp":1624447267,"share":"https://www.laohu8.com/m/news/1113795668?lang=&edition=full","pubTime":"2021-06-23 19:21","market":"us","language":"en","title":"AMC: An Open Letter To The Apes - The Stock Market And Reality","url":"https://stock-news.laohu8.com/highlight/detail?id=1113795668","media":"seekingalpha","summary":"Summary\n\nEarnings drive stock prices over the long run, even for AMC. Here's the data.\nThe economics","content":"<p><b>Summary</b></p>\n<ul>\n <li>Earnings drive stock prices over the long run, even for AMC. Here's the data.</li>\n <li>The economics of buying an AMC movie theater rather than the stock.</li>\n <li>Shorting AMC is mostly common sense, not a conspiracy. And where investors may have to be more careful.</li>\n <li>Emotion may tell you to buy. Reason will tell you to sell.</li>\n</ul>\n<p>I’ve written two articles recently for Seeking Alpha on AMC Entertainment Holdings(NYSE:AMC), one onJune 4and one onJune 17. The comments I have gotten back in response to the articles were eye-opening for me. I feel like I’ve been let into a world I didn’t know existed. Which means that I also must seem pretty odd to the inhabitants of this ape-world. So, I’d like to explain my point of view in this open letter.</p>\n<p><b>Why I keep harping on AMC’s earnings</b></p>\n<p>One shocker to me is that literally<i>no</i>comment that disagreed with my AMC view ever challenged me on earnings. The same is true for comments on my sell calls on Zillow(NASDAQ:Z), Redfin(NASDAQ:RDFN), Rocket Companies(NYSE:RKT)and Opendoor(NASDAQ:OPEN). So, why do I keep talking about earnings?<i>Because that’s how stocks work.</i>First, common sense says that it works. A share of stock is a share ownership of a company; that’s just a fact. We start and own businesses in order to earn money.</p>\n<p>Second, history says that the relationship between earnings and stock prices exists. A few charts will illustrate this point. First, let’s compare the S&amp;P 500 index with S&amp;P 500 EPS a year ahead:</p>\n<p><img src=\"https://static.tigerbbs.com/d09e129752eec6290923863d17249487\" tg-width=\"640\" tg-height=\"426\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,Yardeni Research</i></p>\n<p>The stock market clearly moves with earnings expectations. Now, let’s look at an individual stock. I chose McDonald’s(NYSE:MCD):</p>\n<p><img src=\"https://static.tigerbbs.com/092d5bc6eb84253ba4ae6fea1f92113f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,company reports</i></p>\n<p>Once again, a clear correlation – McDonald’s earns more, investors pay more to own it. Let’s now turn to a company whose earnings prospects took a turn – GoPro(NASDAQ:GPRO):</p>\n<p><img src=\"https://static.tigerbbs.com/6cb1e3a96d4e6e70cc8cb8dbc3b4643f\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,company reports</i></p>\n<p>GoPro’s stock price leaped after its IPO on the assumption that booming sales of its cameras would send earnings soaring above its 2014 EPS of $1.32. But smartphones – the cameras in our pockets – diverted sales away from GoPro, and its EPS took a serious slide into negative territory. In response, the stock tanked. It has only recently made a modest recovery as GoPro management managed to start earning money.<i>Again, a clear link between earnings and the stock price</i>.</p>\n<p>OK, one more – company X:</p>\n<p><img src=\"https://static.tigerbbs.com/f3b9e1ded9a66995ca17edc221ddd9a6\" tg-width=\"640\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Sources:Yahoo Finance,company reports</i></p>\n<p>Another excellent correlation between earnings and stock price. This company saw some EPS growth during 2015 and 2016, but earnings then turned south. The stock price followed.</p>\n<p>Who is this company X? I bet you guessed it – AMC!<i>Up until the pandemic hit, AMC’s stock performed like other stocks – on earnings expectations. It will again.</i></p>\n<p><b>Do you want to own an AMC theater?</b></p>\n<p>Instead of owning AMC stock, how about if you owned an AMC theater? This way, you are a real business owner.</p>\n<p>At last look, AMC’s market cap is $30.5 billion. Add in about $3.5 billion of debt less cash and we’ll say that AMC’s theaters are currently valued at $34 billion. At the beginning of this year, AMC had 950 movie theaters. That means, each theater is valued today at $36 million.</p>\n<p>If you don’t borrow money to pay your $36 million, my best guess from AMC’s financials is that you’ll rake in $220,000 in profits. Not bad, right? A cool 0.6% return on your investment. A return likely to shrink over time as we spend more time streaming and less time at the movies. Or you could buy more current favorite stock MGIC(NYSE:MTG), which last year generatedcash EPS of $2.45, an 18% return on its current stock price. But you would have to give up the free movie tickets from owning a theater. Your choice. I’ve gone for the latter. 18% &gt; 0.6%.</p>\n<p><b>Is it really different this time?</b></p>\n<p>Will AMC stock continue to rise just because apes continue to put more and more money in it? Can AMC become a permanent short squeeze?</p>\n<p>I’m old. While that means my tennis game is sinking, it also has allowed me to see lots of “it’s different this time” stories. They almost never work. Gravity takes over and brings magical beliefs back to earth. The ‘80s commercial real estate boom, the ‘90s internet boom, the ‘00s housing boom, all relied on broad-based beliefs that this time was different, and if you didn’t agree, “you don’t get it”. Gravity brought all three beliefs painfully back to earth. Betting against gravity is a serious long shot.</p>\n<p><b>Is the stock market fixed?</b></p>\n<p>Lots of the comments to my articles suggested that meme investing is revenge against a financial system fixed against the little guy and gal. I consider myself to be pretty cynical, but I can’t see the stock market as a whole as fixed. Some evidence:</p>\n<ul>\n <li><i>The link I established above between earnings and stock prices.</i>This means that, in the long run, it is company performance that determines stock prices, not Wall Street.</li>\n <li><i>Mutual funds routinely underperform index funds.</i>Big fund complexes like BlackRock, T. Rowe Price and Fidelity all have highly paid analysts and portfolio managers running their money. But many studies have shown that they generally do<i>worse</i>than market averages. So, they are no better than we are.</li>\n <li><i>Hedge funds have done even worse.</i>For example,NASDAQreported that the average hedge fund earned 11% in 2020, well below the S&amp;P 500 18% return. And they did far worse in 2019 – up 10% compared to +31% for the S&amp;P 500. My belief is that hedge funds have too much money chasing a small group of trades. Now, hedge fund<i>managers</i>can make obscene amounts of money because of their lucrative 2%/20% compensation structure. That’s another story. But hedge fund investors have been left behind.</li>\n <li><i>Wall Street is blanketed with regulations aimed at levelling the playing field.</i>There are rules against insider trading, selectively disseminating material information and many other forms of bad behavior. Of course, smart people can and do slip by some rules, but rampant cheating is quite difficult to achieve.</li>\n</ul>\n<p><b>Are short sellers lying to support their positions?</b></p>\n<p>There certainly are cases of this, but a far simpler answer explains why GameStop(NYSE:GME)and AMC are short targets. Come on – both are store-based businesses in an increasingly online world, right? With several years of losses behind them already. Blockbuster, Sears, Pier One… shorting the Old Economy is not rocket science.</p>\n<p>But how are potential investors in these New Age companies supposed to deal with these dramatic claims?</p>\n<p>Zillow. From its10-K:</p>\n<blockquote>\n “ \n <i>As we continue to expand into transaction-related services, our Total Addressable Market [TAM] has expanded from $19 billion in U.S. real estate related advertising…to $2.2 trillion of annual home sales…</i>”\n</blockquote>\n<p>Sounds awesome, right? $2.2&nbsp;<i>trillion</i>&nbsp;of potential revenues for Zillow. Except if home sellers expect to keep some of the proceeds of their home sales. In fact, the average real estate commission is 4.5%, giving Zillow an actual TAM of $100 billion. $100 billion &lt; $2.2 trillion. By a<i>lot.</i></p>\n<p>Rocket Mortgage. From itsQ1 earnings conference call:</p>\n<blockquote>\n “ \n <i>As we continue to expand our platform, creating certainty for clients in categories that have historically been challenging, the opportunity for Rocket Companies is gigantic. Consider this; when combined real estate, automotive sales and financial services, all markets where we're helping to lead the way, account for nearly one third of the US GDP</i>.” (My highlighting)\n</blockquote>\n<p>Wow! Amazon&nbsp;(NASDAQ:AMZN)&nbsp;will soon be a blip in Rocket’s rear-view mirror if I believe any of this. By the way, check out Rocket’s insider sales while management is dishing out this hype.</p>\n<p><b>Emotions versus reason</b></p>\n<p>I see a lot of anger, frustration, and revenge in the AMC comments. Life stinks a lot, so I get the rationale for these emotions. But I have learned that emotions are the enemy of successful investing.<i>Any</i>emotions, ranging from fear to enthusiasm. Rational thinking about a company’s value, or even (not my style) investors’ moods, has proven to work better.</p>\n<p>All of us primates, human and ape, are heavily driven by emotions (even me!), so we are never going to squeeze all of them out of our investment decisions. But the more squeezing, the better.</p>\n<p><b>All of the above says “Sell AMC”</b></p>\n<ul>\n <li>AMC’s earnings prospects can’t come close to supporting the current stock price. Gravity will do its job.</li>\n <li>If you don’t want to own a movie theater, don’t own the stock.</li>\n <li>AMC short sellers are driven more by common sense than by some conspiracy.</li>\n <li>AMC’s stock price contains an enormous emotional content, and a change in those fickle emotions will change the stock price quickly.</li>\n</ul>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC: An Open Letter To The Apes - The Stock Market And Reality</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC: An Open Letter To The Apes - The Stock Market And Reality\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 19:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436112-amc-stock-open-letter-to-apes-stock-market-and-reality><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nEarnings drive stock prices over the long run, even for AMC. Here's the data.\nThe economics of buying an AMC movie theater rather than the stock.\nShorting AMC is mostly common sense, not a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436112-amc-stock-open-letter-to-apes-stock-market-and-reality\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://seekingalpha.com/article/4436112-amc-stock-open-letter-to-apes-stock-market-and-reality","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1113795668","content_text":"Summary\n\nEarnings drive stock prices over the long run, even for AMC. Here's the data.\nThe economics of buying an AMC movie theater rather than the stock.\nShorting AMC is mostly common sense, not a conspiracy. And where investors may have to be more careful.\nEmotion may tell you to buy. Reason will tell you to sell.\n\nI’ve written two articles recently for Seeking Alpha on AMC Entertainment Holdings(NYSE:AMC), one onJune 4and one onJune 17. The comments I have gotten back in response to the articles were eye-opening for me. I feel like I’ve been let into a world I didn’t know existed. Which means that I also must seem pretty odd to the inhabitants of this ape-world. So, I’d like to explain my point of view in this open letter.\nWhy I keep harping on AMC’s earnings\nOne shocker to me is that literallynocomment that disagreed with my AMC view ever challenged me on earnings. The same is true for comments on my sell calls on Zillow(NASDAQ:Z), Redfin(NASDAQ:RDFN), Rocket Companies(NYSE:RKT)and Opendoor(NASDAQ:OPEN). So, why do I keep talking about earnings?Because that’s how stocks work.First, common sense says that it works. A share of stock is a share ownership of a company; that’s just a fact. We start and own businesses in order to earn money.\nSecond, history says that the relationship between earnings and stock prices exists. A few charts will illustrate this point. First, let’s compare the S&P 500 index with S&P 500 EPS a year ahead:\n\nSources:Yahoo Finance,Yardeni Research\nThe stock market clearly moves with earnings expectations. Now, let’s look at an individual stock. I chose McDonald’s(NYSE:MCD):\n\nSources:Yahoo Finance,company reports\nOnce again, a clear correlation – McDonald’s earns more, investors pay more to own it. Let’s now turn to a company whose earnings prospects took a turn – GoPro(NASDAQ:GPRO):\n\nSources:Yahoo Finance,company reports\nGoPro’s stock price leaped after its IPO on the assumption that booming sales of its cameras would send earnings soaring above its 2014 EPS of $1.32. But smartphones – the cameras in our pockets – diverted sales away from GoPro, and its EPS took a serious slide into negative territory. In response, the stock tanked. It has only recently made a modest recovery as GoPro management managed to start earning money.Again, a clear link between earnings and the stock price.\nOK, one more – company X:\n\nSources:Yahoo Finance,company reports\nAnother excellent correlation between earnings and stock price. This company saw some EPS growth during 2015 and 2016, but earnings then turned south. The stock price followed.\nWho is this company X? I bet you guessed it – AMC!Up until the pandemic hit, AMC’s stock performed like other stocks – on earnings expectations. It will again.\nDo you want to own an AMC theater?\nInstead of owning AMC stock, how about if you owned an AMC theater? This way, you are a real business owner.\nAt last look, AMC’s market cap is $30.5 billion. Add in about $3.5 billion of debt less cash and we’ll say that AMC’s theaters are currently valued at $34 billion. At the beginning of this year, AMC had 950 movie theaters. That means, each theater is valued today at $36 million.\nIf you don’t borrow money to pay your $36 million, my best guess from AMC’s financials is that you’ll rake in $220,000 in profits. Not bad, right? A cool 0.6% return on your investment. A return likely to shrink over time as we spend more time streaming and less time at the movies. Or you could buy more current favorite stock MGIC(NYSE:MTG), which last year generatedcash EPS of $2.45, an 18% return on its current stock price. But you would have to give up the free movie tickets from owning a theater. Your choice. I’ve gone for the latter. 18% > 0.6%.\nIs it really different this time?\nWill AMC stock continue to rise just because apes continue to put more and more money in it? Can AMC become a permanent short squeeze?\nI’m old. While that means my tennis game is sinking, it also has allowed me to see lots of “it’s different this time” stories. They almost never work. Gravity takes over and brings magical beliefs back to earth. The ‘80s commercial real estate boom, the ‘90s internet boom, the ‘00s housing boom, all relied on broad-based beliefs that this time was different, and if you didn’t agree, “you don’t get it”. Gravity brought all three beliefs painfully back to earth. Betting against gravity is a serious long shot.\nIs the stock market fixed?\nLots of the comments to my articles suggested that meme investing is revenge against a financial system fixed against the little guy and gal. I consider myself to be pretty cynical, but I can’t see the stock market as a whole as fixed. Some evidence:\n\nThe link I established above between earnings and stock prices.This means that, in the long run, it is company performance that determines stock prices, not Wall Street.\nMutual funds routinely underperform index funds.Big fund complexes like BlackRock, T. Rowe Price and Fidelity all have highly paid analysts and portfolio managers running their money. But many studies have shown that they generally doworsethan market averages. So, they are no better than we are.\nHedge funds have done even worse.For example,NASDAQreported that the average hedge fund earned 11% in 2020, well below the S&P 500 18% return. And they did far worse in 2019 – up 10% compared to +31% for the S&P 500. My belief is that hedge funds have too much money chasing a small group of trades. Now, hedge fundmanagerscan make obscene amounts of money because of their lucrative 2%/20% compensation structure. That’s another story. But hedge fund investors have been left behind.\nWall Street is blanketed with regulations aimed at levelling the playing field.There are rules against insider trading, selectively disseminating material information and many other forms of bad behavior. Of course, smart people can and do slip by some rules, but rampant cheating is quite difficult to achieve.\n\nAre short sellers lying to support their positions?\nThere certainly are cases of this, but a far simpler answer explains why GameStop(NYSE:GME)and AMC are short targets. Come on – both are store-based businesses in an increasingly online world, right? With several years of losses behind them already. Blockbuster, Sears, Pier One… shorting the Old Economy is not rocket science.\nBut how are potential investors in these New Age companies supposed to deal with these dramatic claims?\nZillow. From its10-K:\n\n “ \n As we continue to expand into transaction-related services, our Total Addressable Market [TAM] has expanded from $19 billion in U.S. real estate related advertising…to $2.2 trillion of annual home sales…”\n\nSounds awesome, right? $2.2 trillion of potential revenues for Zillow. Except if home sellers expect to keep some of the proceeds of their home sales. In fact, the average real estate commission is 4.5%, giving Zillow an actual TAM of $100 billion. $100 billion < $2.2 trillion. By alot.\nRocket Mortgage. From itsQ1 earnings conference call:\n\n “ \n As we continue to expand our platform, creating certainty for clients in categories that have historically been challenging, the opportunity for Rocket Companies is gigantic. Consider this; when combined real estate, automotive sales and financial services, all markets where we're helping to lead the way, account for nearly one third of the US GDP.” (My highlighting)\n\nWow! Amazon (NASDAQ:AMZN) will soon be a blip in Rocket’s rear-view mirror if I believe any of this. By the way, check out Rocket’s insider sales while management is dishing out this hype.\nEmotions versus reason\nI see a lot of anger, frustration, and revenge in the AMC comments. Life stinks a lot, so I get the rationale for these emotions. But I have learned that emotions are the enemy of successful investing.Anyemotions, ranging from fear to enthusiasm. Rational thinking about a company’s value, or even (not my style) investors’ moods, has proven to work better.\nAll of us primates, human and ape, are heavily driven by emotions (even me!), so we are never going to squeeze all of them out of our investment decisions. But the more squeezing, the better.\nAll of the above says “Sell AMC”\n\nAMC’s earnings prospects can’t come close to supporting the current stock price. Gravity will do its job.\nIf you don’t want to own a movie theater, don’t own the stock.\nAMC short sellers are driven more by common sense than by some conspiracy.\nAMC’s stock price contains an enormous emotional content, and a change in those fickle emotions will change the stock price quickly.","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129088342,"gmtCreate":1624344259086,"gmtModify":1703834022415,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Gogogog","listText":"Gogogog","text":"Gogogog","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129088342","repostId":"1135948909","repostType":2,"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129014013,"gmtCreate":1624343621632,"gmtModify":1703834014319,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129014013","repostId":"2145703342","repostType":2,"isVote":1,"tweetType":1,"viewCount":221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129015510,"gmtCreate":1624343606030,"gmtModify":1703834013836,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hm...","listText":"Hm...","text":"Hm...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129015510","repostId":"2145968037","repostType":2,"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129015952,"gmtCreate":1624343581876,"gmtModify":1703834012864,"author":{"id":"3578396769006342","authorId":"3578396769006342","name":"mymymy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hm...","listText":"Hm...","text":"Hm...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129015952","repostId":"2145030271","repostType":2,"isVote":1,"tweetType":1,"viewCount":190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}