In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discuss AMC Spaces & The Short Squeeze. Here’s an excerpt from the episode:
Tobias: Let’s talk about those AMC Spaces because I jumped into one, Friday, I think. Yeah, I think.
Bill: I know. I was in it because of you apparently, because Dan Stringer, SEC Pimp went in. That’s his Twitter handle for those that aren’t aware. And then, I was like, “I’m mad at whoever got me in here,” and then he said, “I’m in here because Toby was in here.”
Jake: Can we just save some time and just smash ourselves in the head with a ball-peen hammer instead?
Tobias: I get a slightly different take away from it. So, you’re on the Twitter Space. I haven’t done a lot of them, but they’re pretty– I really like that format. You’re right. It’s a great format.
Bill: I told you, we should do it. [crosstalk]
Tobias: Yeah, we should. But they’re really fun because we can get a little bit more interactive. The one that I was in, so, it’s AMC, which is crashing, it was a meme stock.
Bill: I’m very sad I wasn’t shorted. I feel like Friday, I should have–
Tobias: Hard to short though. Short that kind of [crosstalk] stuff.
Bill: No, the sentiment cracked, man. When the woman went off on Cohodes, I thought that was like a pretty good– [crosstalk]
Tobias: What happened? Do you want to give everybody the background?
Bill: I don’t know all the background and I’m not willing to speak on anything that involves Cohodes. I do know that a woman got very upset with him-
Tobias: What was that?
Bill: -and accused him of like hijacking the Spaces or something. I heard the back end of it. I don’t know all of it. I’m not trying to be on Marc’s bedside.
Tobias: She was treating him like a dog. Training him like a dog.
Tobias: I thought that was extreme for–
Bill: It was not kind.
Tobias: Yeah. But I don’t have any context.
Bill: Yeah. I don’t either. But I think, he was trying to encourage. I don’t know. My sense just knowing his holdings as he was trying to encourage AMC to issue some sort of token using tZero and overstock because that’s where his bet is laid. [crosstalk] Yeah without further detail, I won’t opine anymore. However, I felt like between that and the CEO and the CFO being completely out of the stocks.
Tobias: What was the signal?
Bill: It was probably decent time to short.
Tobias: What was the signal?[laughter]
Bill: I don’t know, right? But it’s kind of sad, man. I feel like, I don’t know. What do I know? Maybe, they’ll pull off some epic short squeeze, and it’ll be great, and everybody can go have fun together. But it feels to me like a bunch of people that are really mad and they’re expressing it with money that is meaningful to them. My gut says the base rates aren’t great on this kind of thing.
Jake: I think, usually, you don’t want to have spite be one of your investment theses.
Bill: Yeah. I think–
Tobias: [crosstalk] squeezes a tough thesis, too.
Bill: Yeah. Like all convinced. It’s going to happen. It’s just kind of like, “What are you guys doing?” There’s got to be some better thing to do with your money.
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