GME/AMC comparison
Like I said - These meme stocks tend to follow each other.
I have CBS Saturday on in the family room as background noise - mostly because it was the program after my local Saturday morning girl Annie Brown - who I watch because she's a smoke show - and I'm too lazy to turn the channel. Anyway - one of their lead-in stories was Roaring Kitty and the GME resurgence.
Translation: This isn't over.
My prediction: We'll see spikes from FOMO investors who want a piece of the action but those spikes won't be long-lived because they don't have the diamond hands needed to maintain the higher price. Volatility will continue, with 20-40% swing ups in a single day only to give it all back a couple days later when those paper hands sell. Rinse/Repeat.
GME is "only" 22% shorted. So there isn't as big of a danger for a squeeze as there was last time.
AMC is 20% shorted.
To compare - the most heavily shorted stock that I can find is at 89% (SunPower, SPWR)
That doesn't mean you can't make money on GME or AMC - but a prolonged run up is probably unlikely.
But if you are going to gamble, I'd do so on the buy-low side and wait for the run.
I'd stay away from the short because those margin calls will be coming. If you take a $10k short position, most brokers will require $15k in war reserves. If the stock shoots up 40%, that $10k short is now $14k, and you'll need a war reserve of $21k to keep that position open.
I've been dicking around with the market for a long time. It is my policy to NEVER short. Your risk is - quite literally - infinite.
GME : red
AMC : black
Shit, that would have been extra cash money in the BANK.
