• Fluid AI stonks
  • Posts
  • Stonks: $AMC earnings, $GME down, $NYCB bank failure?, and $RUM

Stonks: $AMC earnings, $GME down, $NYCB bank failure?, and $RUM

Author

Michael Luo
May 15, 2024

Here’s the latest “under the radar” stock news from Reddit in the last 24 hours that you don’t want to miss, as picked by Fluid Bot’s AI.

  • GameStop and AMC shares fell significantly on Wednesday, with GameStop down 29% and AMC down 22%.

  • Before the decline, GameStop and AMC shares were up 179% and 135% respectively this week.

  • Trading volumes for both stocks surged at the start of the week but were much smaller and shorter-lived compared to the peak mania of early 2021.

  • On Monday, GameStop and AMC saw $15.8 million and $37.5 million in net retail trader inflows, far less than their peak inflows of $87.5 million and $170 million in January 2021.

  • The speculative run was reignited by a social media post from Keith Gill ("Roaring Kitty"), which briefly boosted the stocks.

  • NYCB reported selling $5B of warehouse mortgages to JPMorgan

  • NYCB is heavily shorted and may experience a squeeze soon

  • The sale will bolster NYCB's capital and improve liquidy

  • Reasons for shedding mortgages include exposure to commercial real estate, rent-regulated multifamily loans, and internal control issues

  • Short sellers have targeted NYCB due to vulnerabilities

  • NYCB has secured a capital infusion but faces challenges in the future with the commercial real estate market and rent-regulated loans

  • Rumble streaming platform reported poor earnings

  • Global monthly active users dropped from 67 to 50 million

  • Q1 revenue was 17 million with a total loss of over 40 million

  • Stock market cap is 2 billion with no growth perspective

  • Rumble started another lawsuit against Google for money

  • Short-interest is high at 18%

  • Current market environment may allow stock to rise rather than fall

I read through AMC’s latest earnings (with the help of AI) so you didn’t have to. Here’s what you need to know:

🤖 Recommendation by AI 🤖

  • Buy if you like meme stocks

  • Sell/don’t buy if you like good long term businesses 😅

👌The good 👌

  • Net loss per diluted share was $(0.62) compared to $(1.71) for Q1 2023

  • Net loss improved to $(163.5) million compared to a net loss of $(235.5) million for Q1 2023

  • Ended Q1 2024 with $624 million of unrestricted cash; raised an additional $124.1 million post-quarter from common share sales.

😭The bad 😭

  • Total revenues were $951.4 million compared to $954.4 million for Q1 2023.

  • Adjusted EBITDA was $(31.6) million compared to $7.1 million for Q1 2023.

  • 6% decline in North American box office revenue

  • Total attendance dropped 2.1%

    • U.S. markets attendance dropped 5.8%

    • Bright spot: International markets attendance increased 5.8 %

  • Future outlook doesn’t look great