AMC Says ‘Almost All’ U.S. Theaters Will Reopen in July

DLD said:
Ya, the US "backs up" its currency. An average car was $5,000 in 1975 and is $40,000 today. One doesn't have to be Archimedes to figure out it's more than 3.14159.
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Dies it get tiring predicting economic collapse? ;)
 
ahalpert said:
It seems that AMC has by saved by redditors. $600 million of debt vaporized!
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Gamestop and AMC stock prices are dropping back to former levels. It was fun while it lasted. Since AMC was $5billion in debt and was losing money before the pandemic, the question is how long redditors extended AMC's life. AMC still has to figure out how to make a profit during and after the pandemic.

While I think the crusade was fun and quite remarkable in its execution, having the little guy stick it to the hedge funds, it's also ironic that individual investors would try to save a giant corporation that was losing money. It seems counterintuitive.
 
Paul F said:
... While I think the crusade was fun and quite remarkable in its execution, having the little guy stick it to the hedge funds, it's also ironic that individual investors would try to save a giant corporation that was losing money. It seems counterintuitive.
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There will be Congressional testimonies and subcommittees investigating this topic for the next decade. I suggested earlier that there was "dark money" involved. Now, there are rumors that competing hedge funds jumped in when they saw Melvin in trouble. Of course, these are tiny nuggets compared to the LTCM debacle.

What is new here is that blockchain servers and the electronically traded exchanges pretty much eliminate a possibility of the state control over them, unless the state resorts to the extreme measures. And these types of flareups will be seen more often until new hedging strategies are developed. Meanwhile, any thinly traded listing can be driven up or down at will. Someone will make a billion in a day; someone will lose one. At some point, the big boys will move in and this will stabilize.

ahalpert said:
The US ain't the USSR
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Says who?
 
Paul F said:
While I think the crusade was fun and quite remarkable in its execution, having the little guy stick it to the hedge funds, it's also ironic that individual investors would try to save a giant corporation that was losing money. It seems counterintuitive.
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Yes, it is ironic but I think it's a reflection of the increasingly monopolistic landscape that simultaneously destroys physical centers of community. Same thing happened with barnes and noble. They were the last place you could go to have a coffee and page through a book. At the point that they were dying, it was no longer about mom and pop's vs big corporations, it was about having a place to go vs none.

DLD said:
There will be Congressional testimonies and subcommittees investigating this topic for the next decade. I suggested earlier that there was "dark money" involved. Now, there are rumors that competing hedge funds jumped in when they saw Melvin in trouble. Of course, these are tiny nuggets compared to the LTCM debacle.
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I'd be surprised if there weren't big money on both sides, and indeed some hedgies made bank. I Ithink Melvin was particularly dastardly because apparently they short heavily all the time and then use disinformation campaigns to drive a company into the ground. And then profit from the destruction.

Says who?
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Your family when they moved here? But I mean, insulating economic management from politics is a good way to prevent banana republic stuff going down. It's the design of our institutions that makes us strong.

Ps anyone applying microeconomics to macroeconomics better like being wrong
 
ahalpert said:
Yes, it is ironic but I think it's a reflection of the increasingly monopolistic landscape that simultaneously destroys physical centers of community. Same thing happened with barnes and noble. They were the last place you could go to have a coffee and page through a book. At the point that they were dying, it was no longer about mom and pop's vs big corporations, it was about having a place to go vs none.
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What about Books-A-Million? They're still open and have coffee shops in them(260 stores/32 states). I used to go to the one here once or twice a week. It's still open, but I haven't set foot inside it in years, despite it being only about 7 mins away. And Barnes & Noble is listed as still having 627 stores in all 50 states(8 within a 45 min radius of me/5 within 30 mins).
 
Run&Gun said:
What about Books-A-Million? They're still open and have coffee shops in them(260 stores/32 states). I used to go to the one here once or twice a week. It's still open, but I haven't set foot inside it in years, despite it being only about 7 mins away. And Barnes & Noble is listed as still having 627 stores in all 50 states(8 within a 45 min radius of me/5 within 30 mins).
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Never heard of books-a-million. Perhaps I'm getting ahead of myself on B&N and maybe it was just their stores that I knew that closed. Apparently they did close many stores over the last several years, according to this article: https://www.google.com/amp/s/bookri...d-noble-and-whats-in-store-for-the-chain/amp/

What's interesting about what that article says is both that small bookshops might be popping up in the shadow of dead B&Ns but also that B&N might be acquired by a British firm that took over a chain of bookstores in the UK and started running them like independent little shops.

So maybe I've got it all wrong. Maybe the triumph of the Online Everything Store wipes out the mom-and-pop killers but lets indy stores flourish since they're living on a different plane of existence, like microscopic organisms or birds eating the leftovers from a hippo's teeth. I'm always open to being wrong, and would glad to be in this case.

That being said, I feel like the multiplexes contribute to the perceived "grandeur" of the movies, especially for the normie audiences, so I'm not sure that cinema as a business would be better off without them, much as I prefer to frequent the Angelika's and IFC's of the world (or at least I did before I had kids)
 
The lunacy continues for AMC stock. It's quite impressive to see so effective a manipulation of a stock price by the plebeians. Oh, if only I knew when everyone is going to blink, I'd short it. Its a strange combination of foolishness and fun.
 
Headlines like that give assurance that the lunacy will continue. How rare to have the little guy stick it to the big guy by spending a few bucks. A real David and Goliath story.
 
ahalpert said:
Ooh thanks for reminding me. I bought at $10 during the last meme bull run and just cashed out.

Too bad I only bought 2 shares! :)
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Not too bad. You were smart. You participated. You had fun. You made a few bucks. You didn't get hurt. Good on ya.
 
Paul F said:
Headlines like that give assurance that the lunacy will continue. How rare to have the little guy stick it to the big guy by spending a few bucks. A real David and Goliath story.
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I still don't think it's the little guy that's moving the mountains. More likely than not that these are plants/front men/lawyers from Beverly Hills (to use Godfather II/Casino lingo) that are deployed to create the initial momentum before their hedge fund Hyman Roths jump in.
 
"Over Memorial Day weekend, we saw A Quiet Place II hit an estimated $57 million in 3,726 theaters. This is the widest opening and biggest new release since the start of the COVID-19 era.

Even better? That was around the projection for the movie in a world where COVID didn't exist."

Has the death of cinema been greatly exaggerated?

https://nofilmschool.com/a-quiet-place-2-opening-weekend

PS the vibe I got while filming weddings this May is that people in the US are acting like covid is over. Virtually no enforcement of covid policies still in place (proof of negative tests, mask-wearing although many still voluntarily do it) and just a general sense of relief permeating the atmosphere. Of course, these particular groups are probably vaccinated at a rate higher than average
 
ahalpert said:
"Over Memorial Day weekend, we saw A Quiet Place II hit an estimated $57 million in 3,726 theaters. This is the widest opening and biggest new release since the start of the COVID-19 era.

Even better? That was around the projection for the movie in a world where COVID didn't exist."

Has the death of cinema been greatly exaggerated?

https://nofilmschool.com/a-quiet-place-2-opening-weekend

PS the vibe I got while filming weddings this May is that people in the US are acting like covid is over. Virtually no enforcement of covid policies still in place (proof of negative tests, mask-wearing although many still voluntarily do it) and just a general sense of relief permeating the atmosphere. Of course, these particular groups are probably vaccinated at a rate higher than average
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I worked the Coke 600 this past weekend. 50K+ in attendance and I can probably count the number of masks I saw on one hand. Personally, I haven't worn a mask in almost two weeks and some of my clients have said if you've been fully vaxed, you don't have to wear a mask on their shoots, anymore. But some are still requiring testing(sorta...).
 
Run&Gun said:
I worked the Coke 600 this past weekend. 50K+ in attendance and I can probably count the number of masks I saw on one hand. Personally, I haven't worn a mask in almost two weeks and some of my clients have said if you've been fully vaxed, you don't have to wear a mask on their shoots, anymore. But some are still requiring testing(sorta...).
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We are starting to seen the same relxing in the UK. Here we have over 60% with 1st does of the Vaccine and 30% fully vaccinated. However the R rate and the number of cases is rising again... The UK is looking at a 3rd wave. We were down to zero deaths so people have started to relax and there is a new variant gspreading. There is a lag of 2-4 weeks between infection and death so we won't know where it is going for a month by which time it will be too late.

Just looked at the stats for the US and the curve for new deaths has flattened out. It is staying constant (if low). As above there will be a lag of several weeks before you start to see deaths rising again. Part of the problem is as COVID is "over" people (US and UK) have stopped getting tests. Therefore things are artificially looking better. I don't think this is over by a long way.

For the conspiracy nuts read the BOOK (not watch the film) of Dan Brown's Inferno and the discussion on world population at the very end of it. COVID primality attacks the old and the weak. "They" want to keep it going to thin the herd. There were similar conspiracy theories that AIDS was also man made to reduce the population.

For scientific discussion on global population see https://populationmatters.org/the-facts Though they don't advocate viruses to solve the problem!
 
In England, the soccer stadiums let some fans in during the last couple of weeks of the regular season. Germany, Italy, France and Spain were still playing in the empty stadiums. The CL final in Porto had a limited crowd.

Copa America, that is due to open on the 11th, dropped Argentina as ts co-host due to covid. Brazil is now the sole host, though it also has covid problems.
 
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