Does anyone know what interest rate hedges are paying? Even at 100% interest, with 55 million shares at 6 bucks a piece, if they pay their interest daily, I think that comes to 330 million dollars/year.
We don't know though if they are paying that high yet (seems unlikely). Someone with a margin account could check that information by attempting to short a share and reading through the warnings (don't actually agree to the last step and open a short position though). We also don't know what value the stocks had when they borrowed them.
There are some tings some of you may know, but I do not. I don't know whether their doubling down by borrowing more shares to sell each other for short ladders effectively closes their old positions and then reopens them at a lower price. I aldo don't know whether the interest rates are fixed or variable for hedges, nor whether the interest charged is based on current closing price or price at the time stock was borrowed.
Still holding, but be prepared for it to be a long hold unless we can get another good catalyst.$AMC Ent Holdg $Naked Brand $Genius Brands $Express
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