Bonus Pod: The Apes and AMC

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 4 June 2021

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Retail investors have driven much of AMC Entertainment’s stock roller coaster, and they’re calling themselves “apes.” One of the most vocal of those apes: host of YouTube channel “Trey’s Trades,” Trey Collins. Just hours after his YouTube interview with AMC CEO Adam Aron, Collins shared his outlook for AMC stock and the meme stock movement. He believes the fundamental value of the movie theater chain’s shares will be between $20 and $25 at the end of 2021, although shares of the company hit an all-time high this week, topping out at $72.62. Squawk Box anchors Joe Kernen, Becky Quick and Andrew Ross Sorkin go inside the general shift happening in the stock markets -- it’s about more than free popcorn. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Go Aape! It's a bonus episode.
0:07.0	The AMC stock roller coaster has been driven like GameStop before it by a crowd of retail investors.
0:16.0	This time around, they have a new moniker.
0:18.0	The AMC Aapes.
0:20.0	Who are they?
0:21.0	Why do they believe in this trade? A Gen Zir from their own retailer ranks.
0:24.8	I don't consider myself the leader of the apes. You know, as a retail investor, I consider myself an ape.
0:29.2	Trey Collins host of YouTube's Trays Trades, fresh off his own interview with the AMC CEO.
0:34.8	To all the apes out there, welcome back to Trays Trades.
0:37.8	Coming down here again to give you guys the second interview for Adam Aaron.
0:42.0	Nearly 400,000 views and a couple of hours later,
0:45.0	Trey Collins is here with his take on the meme stock momentum.
0:49.0	We can't predict the volatility either up or down
0:52.0	in either direction for AMC stock, but I'd say it's a
0:54.4	better odds lottery ticket than you've got doing something else.
0:56.7	It's June 4th, 2021. The apes are rising past the pop-cord.
1:02.0	This bonus squadawk pod begins right now.
1:06.0	Good morning everybody.
1:08.0	Welcome to Squawk Box here on C.
1:10.0	I'm Becky Quick, along with Joe Kernan and Andrew Ross Sorkin.
1:13.3	We got a lot to talk about and it is got three letters.
1:17.3	AMC yesterday of the company sold an additional 11.5 million shares.
	...

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