May 15, 2024 9:05 AM | 2 minute read
A 20-year professional trader reveals his “money line”
Ditch the indicator and use “MoneyLine”. Simple lines take the guesswork out of knowing when to buy or sell. This is the line on the chart that helped Nic Chahine earn his 83% of option purchases. Here's how he does it.
AMC Entertainment Holdings Co., Ltd. (NYSE:AMC) stock is down on Wednesday after rising earlier in the week. The company announced that it has entered into an agreement to issue shares in exchange for notes.
what happened: AMC said in a new regulatory filing that it entered into a privately negotiated exchange agreement on Tuesday to acquire 10%/12% cash/PIK in exchange for $163.85 million in aggregate principal amount. Announced the issuance of 23,280,295 shares of A common stock. Scheduled for 2026.
AMC announced Tuesday that it has completed its previously disclosed on-market stock offering that began on March 28. The company announced that it has raised approximately $250 million in new equity capital through the sale of 72.5 million shares.
AMC's move comes after its stock price rose this week. gamestop company (NYSE:GME) and several other stocks have seen high short interest amid the stock price pullback. keith gillbest known as “Rolling Kitty” From YouTube to X to Reddit's “DeepF***ingValue” to social media.
Gill is often credited with sparking the meme stock movement of 2021, when traders on Reddit's r/WallStreetBets relentlessly bought GameStop and AMC stock, ultimately leading to a short squeeze in stocks.
Over the weekend, Gil posted a meme X It featured a person sitting in a chair and leaning forward, suggesting that he was paying close attention to GameStop and the market in general. Throughout the week he continued to post video clips to X.
Check this out: Roaring Kitty's timed post on X sparks new rally in GameStop, AMC, and other meme stocks
AMC price action: At the time of publication, AMC stock was down 9.71% to $6.19. Despite Wednesday's decline, AMC stock is still up about 114% this week, according to Benzinga Pro.
Photo: Paul Sableman on Flickr.
A 20-year professional trader reveals his “money line”
Ditch the indicator and use “MoneyLine”. Simple lines take the guesswork out of knowing when to buy or sell. This is the line on the chart that helped Nic Chahine earn his 83% of option purchases. Here's how he does it.
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