iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,077 Blog Posts

MEME STOCKS COLLAPSE AMIDST A FRESH ROUND OF DILUTIVE SECONDARIES

This could not happen to a better crowd. Just when you thought AMC was going to “moon” — the moon cracked in half and disintegrated into dust and now you’re left with moon dust all over your fucking face. Shares of AMC, EXPR and others have been taken to the woodshed after announcing a fresh round of dilutive offerings, as they should. Because in the real world, people work at AMC and the company is burning $500m per qt. What a blessing to enable them to sell more shares at such rich and lofty prices. The executive committee at AMC would like to thank you for your generous donations — helping the struggling retailer of Hollywood dreck emblazon its balance sheet with your cash donations. How very generous of you.

In other news, the market is fucking broken. Happy? You fucked for brains keep doing dumb shit and then another Bill Huang will appear to rape momo stocks for another 50% and then you’ll wonder where it all went wrong. Why can’t you just buy and sell tech stocks like normal human beings? Gun them up to 30x sales — see if the fuck I care. But these meme stock gambits are annihilating all facets of life in the market — sucking everything out of normal stocks and into these fucking meat grinders, now used as cash donations to struggling video retailers.

I don’t know if you can be stopped — probably not.

I liquidated it all today, +65bps for the session and +185bps in my YOLO — thinking about getting back in but not feeeeeeling it.

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4 comments

  1. alldeltanotheta
    alldeltanotheta

    Fuck every level of this dysgenic society. If buying meme stocks leads to catastrophe worse than the great depression I’m selling my shirt to buy more GME.

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  2. duuude

    Give ya two fiddy for the shirt

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  3. soupbone

    Un gross catastrophe vous attendez. It does not get more bubbly than this and I’m fucking old.

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  4. purdy

    Why are they having Biden say the racist and divisive things they put on his teleprompter? Shorted semis and Naz today. Bought the silver dip.

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