[Market Outlook] What Does It Meme?

[Company Logo] This silly phenomonena enabled AMC to raise $1.2 billion this quarter... The recent runup in Meme stocks pushed by the Reddit crowd has turned Wall Street upside down and is something to sit up and take notice of. Many pros consider the recent price action a silly phenomena to be dismissed, but we think the opposite. Very recently, the Reddit crowd bought a lot of AMC, forcing shorts to cover, which drove AMC from about 14 to 70 in the past few weeks. That’s not a bad run in 7 trading days. [image] Very recently, the Reddit crowd bought a lot of AMC, forcing shorts to cover, which drove AMC from about 14 to 70 in the past few weeks. That’s not a bad run in 7 trading days. Most serious professional players look at the recent performance as sheer folly (sending lambs to be slaughtered) and a perfect setup to destroy the novices/day traders. In fact, many money management firms will not allow their reps to recommend Meme stocks to their clients. Most pros look at these Meme stocks as worthless and short them based on their fundamentals. Now look at this comment by the CEO of AMC…… “Bringing in an additional $587.4 million of new equity on top of the $658.5 million already raised this quarter results in a total equity raise in the second quarter of $1.246 billion, substantially strengthening and improving AMC’s balance sheet, providing valuable flexibility to respond to potential challenges and capitalize on attractive opportunities in the future.” The takeaway is the Reddit crowd, by pushing beaten down heavily shorted stocks are shifting the fundamentals. In AMC’s case, it was able to raise over a billion dollars this quarter alone and adjust its business model. Another interesting takeaway, if the short squeeze in GME was a fluke and insanely overvalued, why is it now still sitting at $237 a share or over 10x where it started this year? The game is changing, and short sellers are on notice, especially when they ignore or manipulate SEC and clearing regulations. The bottom line is that if you have a risk management process like we practice at MarketGauge it is all opportunity. This week, Mish did a full-on training segment about how to trade MEME stocks using an immensely powerful indicator that we used on the trading floor - the opening range. Use the links below to get : - Mish's How To Trade Meme Stocks - The weekly market highlights - The Crypto industry highlights - Keith's market analysis video [Click here for the Free Market Highlights and more]( [Click here for the Premium Market Highlights and more]( Best wishes for your trading, Keith Schneider CEO MarketGauge Get more - follow us here... Twitter [@marketgauge]( and [@marketminute]( and [Facebook]( To stop receiving this go [here]( Got Questions?Office hours 9-5 ET (New York time) Email: info@marketgauge.com Live Chat: Go to bottom right corner of our [home page.]( Call: 888-241-3060 or 973-729-0485 There is substantial risk of loss associated with trading any securities including and not limited to stocks, ETFs, futures, and options. Only risk capital should be used to trade. Trading securities is not suitable for everyone. No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. To unsubscribe or customize your email settings, [click here](. "Market Intelligence at a Glance + Tools For Serious Traders" [Unsubscribe]( MarketGauge.com 70 Sparta Ave, Suite 203 Sparta, New Jersey 07871 United States (888) 241-3060