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Matt Kohrs on the rise of meme stocks and AMC popularity - YouTube
Channel: Fox Business
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well all of a sudden amc has become the
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biggest darling of the reddit investing
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crowd
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and well judging from the surges in
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google on google looks like
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more folks are interested in the company
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and its stock of course interest in
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these stocks
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have spawned their own community and
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their own set of heroes including my
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next guest
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matt coors matt welcome to the show and
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before we start i want to note that i
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like that you always make sure to tell
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people you're not a financial advisor
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you're obviously though a smart guy
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you've been behind this for a long time
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you've created a very strong following
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of these so-called mean stocks i'm just
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curious
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what sparked your interest in the first
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place well first of all thank you so
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much for having me on the show
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my interest i've been trading now for
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about the better part of a decade
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and i've just never seen this much of a
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of a community
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behind such a a like it's just
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resonating with a lot so it feels like
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it's just something
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a little bit more special than just
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something playing out in the stock
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market i just love the community that
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has
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really come from this movement you know
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you message a lot uh when i look at your
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work it's extremely informative
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particularly when it comes to these
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short positions and that seems sort of
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to be the lynchpin
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how does that influence reddit investors
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and you know a lot of people know
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there's some new terms
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uh in uh and but but how how do you
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how have you taken these shorts uh and
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turn it against the so-called smart
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money
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yeah so that's exactly right there
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that's who we're perceiving in this
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particular trade to be i guess our
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quote-unquote enemy
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it's we want to know the shorts we want
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to know the size of the shorts because
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at the end of the day that's what we're
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looking for
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is to prompt a short squeeze and without
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getting too far into technicals like the
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short squeeze the gamma squeeze
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fomo buying it's just all three of those
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are major forms of buying power
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that could all be prompted in the
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current situation that we're seeing
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and at the end of the day it's all
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different buying which could really push
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the stock sky high
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yeah you guys have flipped the script
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big time you know it's interesting early
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in the year wall street went crazy the
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financial media hated you
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and uh when these stocks started to
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settle down it felt like they thought
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they were dancing on your graves
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and now more recently when they talk
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about this you always hear the term
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smart
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money the insinuation is that anyone
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who's buying these stocks right now is
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the dumb money how does that make you
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feel
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well i mean i guess at the end of the
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day even if that's our
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moniker of sorts if we're being referred
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to as dumb money i mean at the end of
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the day at least we're making money so
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in this particular scenario
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i'm proud to wear that badge because at
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the end of the day my portfolio is
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higher
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well you've been trading for a decade so
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you understand traditional valuation
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metrics and certainly using them
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all of these stocks should be oversold
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so how do you justify
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you know there's a diamond hand approach
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to this holding them long term
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uh what are you using to say okay this
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is justified holding these names for one
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two three four
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five years because you can't do it using
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traditional valuation metrics
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yeah i completely agree so in my
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personal opinion with this
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this is more of a swing trade to see how
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this particular short squeeze narrative
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plays out
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i think the discussion for a long term
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hold is actually
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better taking place like when this this
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particular storyline
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is done because right now it's a smaller
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time frame it's that classic
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david versus goliath retail versus wall
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street
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99 versus one at the end of the day you
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love the underdog story but with that
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being said
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this is not a long-term underdog story
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we're doing the fight
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right now for that swing trade it's just
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the dumb money versus the smart money
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i'm gonna
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throw both of those in quotes but to me
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this is a swing trade
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just to see how far we can really really
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push this narrative and
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for me i do like amc long term but i
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would consider that an investment once
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this particular storyline is complete
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i gotcha you know i want you to know one
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of the reasons that i love the apes is
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when i took the test to become a broker
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i crushed it i had no formal classes
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i had no help i was told i was going to
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fail so i was walking away from the
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testing site and there was a line from a
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stevie wonder song called overjoyed
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and it played over and over again in my
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head here's a line i want to share with
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you matt
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and though the odds seem improbable what
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do they know
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good luck matt appreciate you coming on
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the show we'll touch base again real
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soon
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thank you so much
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