AMC, Meme Stocks, & Short-Seller Jim

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 11 August 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In an extended interview, legendary short-seller Jim Chanos discusses AMC’s meme stock journey, movie theaters, apes, Reddit, and all. Short interest in AMC is rising in the wake of AMC’s quarterly financial report, but Wall Street is warning retail investors that the “Mother of All Short Squeezes” that they’re waiting for, may not be as fun a play as they’re expecting.

Transcript

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0:00.0	This is
0:02.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer.
0:05.0	Today on our podcast,
0:08.0	Get your popcorn.
0:10.0	Famed shortseller Jim Chainos.
0:12.8	Thank you for having me.
0:14.0	It's good to be back.
0:15.2	He's been tweeting about AMC as long as the Reddit Apes have been trading it.
0:19.6	The reality is, is things have gotten worse at this company from the depths of the pandemic on January 1st.
0:27.0	All through the unlikely journey for the movie theater chain.
0:30.0	That's the problem with meme stock trading.
0:33.0	And where Chinos bets it's going next.
0:36.0	Is your call that the stock will go down,
0:39.0	or is your call that the stock should go down?
0:42.0	Movies, memes memes risky money from the LeBron James
0:46.2	of short selling. Nothing, nothing makes a difference. It's just, it's just what
0:50.7	what is it then what is this
0:52.8	you'll blame wall street i suspect if they lose money
0:56.2	if you keep doing dumb things if you keep saying i'm a nihilist i eat crayon
1:00.8	i don't care about this i don't care about that well if you end up losing money you
1:05.0	only have yourself to blame it's Wednesday August 11th 2021 I don't even know where to
1:10.4	start I don't even know where to start. Squawk Pod begins right after this.
	...

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