AMC stock pushers are another example of social media scariness

Published

2 years ago

September 11, 2023

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It was December of 2021. I had COVID and was on the verge of being officially diagnosed with prostate cancer. Things were pretty bad and suddenly got worse: I noticed Fire Gasparino trending on Twitter not because I had made up a story, or defamed someone.

My sin was reporting, continuously and accurately, that an investment cult had formed around the stock of the troubled movie theater chain known as AMC, pushing its shares well above where they should be. And like most cults, this one wouldnt end well.

The abuse lasted through Christmas. I guess I could have wilted and joined some of my colleagues in heralding the small investor-led movement around the stock as something biblical. David slays Goliath.

I didnt and kept reporting the story behind one of the most absurd and now costly stock pumps in recent history.

These days, Im glad I did.

Yes, I survived COVID, my cancer diagnosis and getting vilified by a Twitter mob just fine. In fact better than fine because of what happened next: The stock imploded as I reported it would. AMC was burning loads of cash, heading for bankruptcy or massive dilution to raise much-needed capital, neither good for shareholders.

Shares are down 95% since December 2021. About 10 days ago, the stocks crash and burn was complete as the company took concrete steps toward the issuance of a ton of new shares (aka diluting existing shareholders) and stay out of bankruptcy. Were it not for a bit of financial alchemy in a 10-for-1 reverse stock split, AMCs stock price would be reading just above $1.

Im not taking joy in people losing money but in people saving some. Anyone who followed my reporting on AMC saved themselves some real money. Those who followed cultists, the self-described AMC Apes or the cheerleading pseudo-journalists are paying the price.

Phil Graham, the brilliant but troubled former publisher of The Washington Post, came up with the truism about the profession of journalism as being the first rough draft of history. That was back in the early 1960s before he killed himself in a fit of depression.

I wonder what Phil Graham would call what goes down on the rebranded Twitter site X or any of the other instantaneous social-media feedback loops that are now competing with real reporting. A really, really, really rough draft of history?

Social media is great in so many ways. Yes, its a draft of history, even if its really rough, and that often serves a purpose through the exchange of ideas to make an informed judgment. Its also an outlet for people desperately searching for purpose, and while theyre at it, indulging in their worst instincts and behaviors. Its a breeding ground for the cult.

How cults are created is an age-old question. The result is deadly and near deadly stuff like Jonestown and Pizzagate and the financially deadly stuff that surrounded the stock of AMC. The weird notion that a cabal of greedy hedge funds, hell-bent on destroying the nations largest movie theater chain, were shorting the stock (betting its price would collapse) in dark corners of Wall Street does seem appealing.

That average people could buy this stock, and destroy a bunch of nasty hedge funds while becoming rich, even more so.

Just one problem: Nothing close to what the cult was blathering about was true. The evidence of this scheme thrown around Twitter or the Reddit message boards was of the wackadoo variety. And If you dared question the illogic, as I did, be prepared for harassment like youve never seen before.

The power of social media is intense and crazy, of course, and it made this cult particularly nasty and resilient over the past two-plus years. That is until the hammer finally fell just days ago and the AMC cult ended like they all do in disaster.

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Its a shame more reporters didnt call this out. It was so obvious based on what you can find on a balance sheet. Short sellers made hundreds of millions of dollars in August because AMCs finances included massive cash burn, lots of debt and movie attendance that due to streaming hasnt returned to pre-pandemic levels.

CEO Adam Aron, not exactly a short seller, recently explained AMCssituation in a call withanalysts. Business is getting better Barbenheimer was a box office hit; a Taylor Swift film coming to AMC theaters in October is crushing it in pre-sales. But he said that if he cant raise money by selling more stock, Chapter 11 is almost inevitable. He recently beat back an Ape-inspired lawsuit challenging his dilution plan, because they believe AMC is really doing just fine and doesnt need the money.

It does, of course, and the coming dilution is why AMC, for now, and maybe for the foreseeable future, is still in business, even as its stock is battered and bruised.

Some of the Apes are still HODL (holding on for dear life, in the lingua franca of the cult), and still attacking those they see as backing the evil hedge funds. Thats scary.

Even more scary: Far too many reporters over the past three years sought the cults approval because it feels good to be applauded on social media. It also helps you build your followers, which is also idiotically important to reporters these days.

They are truly sellouts to the profession, because they should know, based on the history, cults never end well.

Politics

No 10 decline to say if Palestine will be recognised with Hamas in power

Published

51 mins ago

August 4, 2025

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No 10 decline to say if Palestine will be recognised with Hamas in power

The prime minister’s spokesman has refused eight times to confirm whether recognition of Palestine could go ahead if Hamas remain in power and the hostages are not released.

Keir Starmer’s spokesman was questioned by journalists for the first time since the announcement last week that the UK will formally recognise the state in September – unless Israel meets certain conditions including abiding by a ceasefire and increasing aid.

The policy has been criticised by the families of UK hostages, campaigners and some Labour MPs, who argue it would reward Hamas and say it should be conditional on the release of the remaining hostages.

A senior Hamas politician, Ghazi Hamad, speaking to Al Jazeera, said at the weekend that major nations’ decision to recognise a Palestinian state “is one of the fruits of 7 October”.

Gaza latest: Trump pressed to recognise Palestinian state

The PM’s spokesman said on Monday: “The PM is clear that on 7 October, Hamas committed the worst act of terror in Israel’s history. That horror has continued since then.

“As the foreign secretary said over the weekend, Hamas are rightly pariahs who can have no role in Gaza’s future, there is a diplomatic consensus on that. Hamas must immediately release all hostages and have no role in the governance of Gaza.”

But asked whether removing Hamas from power and releasing hostages were conditions for statehood, he said a decision on recognition would be made at the UN General Assembly meeting in September, based on “an assessment of how far the parties have met the steps we have set out. No one side will have veto on recognition through their actions or inactions.”

He added: “Our focus is on the immediate situation on the ground, getting more aid in to end the suffering in Gaza and supporting a ceasefire and a long-term peace for Israelis and Palestinians based a two-state solution.”

Starmer, who recalled his cabinet for an emergency meeting last week before setting out the new position, is following the lead of French president Emmanuel Macron, who first pledged to move toward recognising Palestinian statehood in April.

Canada has also backed recognition if conditions are met, including by the Palestinian Authority.

The prime minister had previously said he would recognise a state of Palestine as part of a contribution to a peace process.

In his announcement last Tuesday, he said: “We need to see at least 500 trucks entering Gaza every day. But ultimately, the only way to bring this humanitarian crisis to an end is through a long-term settlement.

“So we are supporting the US, Egyptian and Qatari efforts to secure a vital ceasefire. That ceasefire must be sustainable and it must lead to a wider peace plan, which we are developing with our international partners.

“I’ve always said we will recognise a Palestinian state as a contribution to a proper peace process, at the moment of maximum impact for the two-state solution. With that solution now under threat, this is the moment to act.”

Adam Rose, a lawyer acting for British families of hostages in Gaza, has said: “Why would Hamas agree to a ceasefire if it knew that to do so would make British recognition of Palestine less likely?”

Environment

EcoFlow DELTA 2 Max solar bundle $1,139 low, Lectric ONE e-bike gets $319 in free gear, Anker SOLIX C300 90,000mAh stations, more

Published

53 mins ago

August 4, 2025

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EcoFlow DELTA 2 Max solar bundle ,139 low, Lectric ONE e-bike gets 9 in free gear, Anker SOLIX C300 90,000mAh stations, more

We’re starting this week’s Green Deals with EcoFlow’s August Home Backup Sale that is seeing up to 59% initial discounts, bonus savings, continued 3x and 3.5x EcoCredit rewards, new free gift promotions, and more – with plenty of ongoing low prices like the DELTA 2 Max Solar Generator bundle that gives you a 220W panel at its $1,139 low, among many others. We also have Lectric’s ONE Long-Range e-bike getting the biggest $319 bundle of 2025 at $2,399, as well as Anker’s SOLIX C300 90,000mAh Power Stations and bundle options starting from $170. From there, we also have EcoFlow’s latest 48-hour flash sale on two power station bundles and a dual solar panel option, alongside the best price of the year on Worx’s 20V JawSaw PowerShare Cordless Chainsaw.Plus, all the hangover savings from last week are at the bottom of the page, rounded together in our Electrified Weekly coverage, which includes the new EcoFlow TRAIL releases, exclusive Bluetti Apex 300 launch savings, and much more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Save up to 59% on EcoFlow power stations and backup bundles with bonus savings, free gifts, up to 3.5x EcoCredits – all from $179

EcoFlow has launched a new Home Backup Sale through August 17 that is continuing some of the Monthly Madness rewards from last week while adding new free gift promotions and extra savings – with this event running parallel to the brand’s release of the new TRAIL series power stations. One of the notable low prices we’re seeing during this period is on EcoFlow’s DELTA 2 Max Solar Generator bundle that comes with a 220W solar panel for $1,139.05 shipped, after using the code 25EFDCAFF at checkout for an additional 5% off your order, which beats out Amazon’s current pricing by $60. Normally going for $2,548 in full here, over the last seven months we’ve seen discounts take things to their lowest for $1,139 back during last month’s Prime Day event, with prices otherwise keeping at or above $1,199. That low price is coming back thanks to the bonus savings, giving you $1,409 in savings and the best price we have tracked.

As previously mentioned, this Home Backup Sale is seeing some continuations alongside some new free gift promotions. Of course, there’s the extra 5% savings you’ll get using the code 25EFDCAFF at checkout, but standard members will also be getting 3x EcoCredits from orders, while Plus members get 3.5x EcoCredits – which you can use to score future discounts and other exchanged rewards. If you already have some saved, you can spend 500 to unlock a spin on the brand’s Lucky Draw wheel for guaranteed gifts/savings. There’s also the chance to get a free refurbished RIVER 2 Max power station with purchases of select DELTA series units.

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For folks not wanting to spend too much on larger whole-home backup systems but want to maintain their peace of mind during trips away from home and possible at-home outage emergencies, EcoFlow’s DELTA 2 Max is a solid option that starts with a 2,048Wh LiFePO4 capacity and can expand as high as 6,144Wh with add-on expansion batteries. It pumps out a steady stream of 2,400W of power through its 15 output port options, with the ability to surge up to 3,400W once you’ve activated its X-Boost mode in the remote app controls. A wall outlet can bring the battery back to 83% in 1.1 hours, with the option to plug it into your car’s auxiliary port to charge as you drive, on top of a max 1,000W solar input that can also be used simultaneously with a wall outlet for faster 43-minute charge times.

If you just want EcoFlow’s DELTA 2 Max power station by itself, you can pick it up at $996.55 shipped, after using the 5% off code, while bundling EcoFlow’s DELTA 2 Max with an 800W alternator charger that tops it off faster than a car auxiliary port will cost you $1,139.05 shipped, after using the extra savings code.

You can browse the full lineup during this EcoFlow August Home Backup Sale by checking out our original coverage of these deals here.

man riding down sidewalk on Lectric ONE e-bike

Lectric’s 60-mile traveling ONE e-bike with a Gates carbon belt drive gets largest $319 bundle of 2025 at $2,399

Looking in on Lectric’s ongoing Back to School Sale, we wanted to shine a spotlight on the biggest bundle we’ve seen accompany the brand’s ONE Long-Range e-bike at $2,399 shipped, which is getting $319 in free gear that includes a rear cargo rack, fenders to go over the tires, and a 4-liter frame bag. This package would normally run you $2,718 at full price, if it weren’t for the brand’s trend of offering savings on the bundles. While we did see it get a $308 bundle back in February, this model has otherwise only been getting $220 in free gear this year, but now, during this sale, we’re seeing a larger bundle than ever in 2025.

If you want to learn more about this model, be sure to check out our original coverage of this deal here, while you can also check out the full lineup of Back to School e-bike deals from this brand here.

man hiking through woods with Anker SOLIX C300 DC power station hanging from shoulder

Anker’s SOLIX C300 power stations are portable 90,000mAh backup companions that start from $170 (up to 32% off)

By way of its official Amazon storefront, Anker is offering its SOLIX C300 DC Portable Power Station at $169.99 shipped, beating out the brand’s direct website pricing by $20. You’d have to pay $250 for this unit at full price regularly, though discounts in 2025 have seen it go as low as $150, which was last seen in July’s Prime Day Sale event, with things otherwise seen repeating to $170 since June. This is the third-lowest price we have tracked, giving you $80 off the going rate and landing $30 above the all-time low from Black Friday and Christmas sales.

If you want to learn more about this model or get the rundown on its predecessor and bundle options, be sure to check out our original coverage of these deals here.

four people enjoying camping in tent with EcoFlow DELTA 2 power station with extra battery bundle

Save up to 62% on DELTA 2 and DELTA Pro bundles, as well as dual solar panels, starting from $499 for 48 hours

Alongside launching its latest Home Backup Sale that is running through August 17, EcoFlow has also launched a 48-hour flash sale that is taking up to 62% off three offers, with things starting lowest on the DELTA 2 Portable Power Station that comes bundled with a smart extra battery for $899 shipped, which beats out its Amazon pricing by $50. This bundle would cost you $1,798 at full price directly from the brand, while we’ve seen it more regularly at $1,289 at Amazon. Discounts this year have seen it fall to $799 back in March, with things otherwise dropping between $849 and $999 during sales. You’re looking at a 50% markdown off its MSRP here and the third-lowest price of 2025, while the savings last through today and tomorrow.

If you want to learn more about this bundle or the two other offers, be sure to check out our original coverage of this flash sale here.

man cutting thick tree branch with Worx 20V JawSaw cordless chainsaw

Worx’s 20V JawSaw chomps through thick branches with a retractable blade at $101

Amazon is offering the best price of the year on Worx’s 20V JawSaw PowerShare Cordless Chainsaw at $101.40 shipped. Most of the past year we’ve seen this more unique chainsaw keeping up at a full $170 rate, which we saw drop to $130 during Black Friday and Christmas sales and more recently fell to $109 at the top of July. While it has dropped as far as $89 in past years, today’s deal comes in lower than we’ve seen in the last 12 months, giving you $69 off the going rate and beating out our previous mention by $8.

If you want to learn more about this unique chainsaw, be sure to check out our original coverage of this deal here.

Best Summer EV deals!

Aventon Ramblas Electric Mountain Bike: $2,599 (Reg. $2,899)
Ride1Up Prodigy v2 Brose Mid-Drive Gates Belt CVT e-bike: $2,595 (Reg. $2,795)
Ride1Up Revv 1 DRT Off-Road Moped-Style e-bike: $2,395 (Reg. $2,595)
Ride1Up Revv 1 Full Suspension Moped-Style e-bike: $2,395 (Reg. $2,595)
Rad Power RadRunner Max Cargo Utility e-bike with $139 bundle: $2,299 (No price cut)
Segway Xafari Red e-bike: $2,000 (Reg. $2,400)
Velotric Nomad 2 All-Terrain e-bike with $120 bundle (new model): $1,999 (No price cut)
Rad Power Radster Road Commuter e-bike: $1,999 (Reg. $2,199)
Rad Power Radster Trail Off-Road e-bike: $1,999 (Reg. $2,199)
Lectric XPedition 2.0 35Ah Cargo e-bike w/ up to $654 bundle: $1,999 (Reg. $2,653)
Ride1Up Prodigy v2 Brose Mid-Drive 9-Speed e-bike: $1,995 (Reg. $2,495)
Tenways AGO X All-Terrain e-bike with $307 bundle: $1,899 (Reg. $2,499)
Velotric Breeze 1 Cruiser e-bike with $150 bundle (new model): $1,799 (No price cut)
Aventon Pace 4 Smart Cruiser e-bike (new model, first discount): $1,699 (Reg. $1,799)
Lectric XPedition 2.0 26Ah Cargo e-bike w/ $505 bundle: $1,699 (Reg. $2,204)
Lectric XPeak 2.0 Long-Range Off-Road e-bike with $316 bundle: $1,699 (Reg. $2,015)
Aventon Aventure 2 All-Terrain e-bike: $1,699 (Reg. $1,999)
Aventon Abound Cargo e-bike: $1,599 (Reg. $1,999)
Rad Power RadRunner Cargo Utility e-bike with $109 bundle: $1,499 (No pirce cut)
Lectric XPeak 2.0 Standard Off-Road e-bike with $227 bundle: $1,499 (Reg. $1,726)
Lectric XP Trike2 with $227 preorder bundle: $1,499 (Reg. $1,726)
Rad Power RadWagon 4 Cargo e-bike: $1,499 (Reg. $1,799)
Tenways CGO600 Pro e-bikes with $118 bundle: $1,499 (Reg. $1,899)
Velotric Nomad 1 Plus All-Terrain e-bike: $1,499 (Reg. $1,899)
Aventon Sinch 2 Folding e-bike (lowest price): $1,399 (Reg. $1,699)
Lectric XPedition 2.0 13Ah Cargo e-bike with $326 bundle: $1,399 (Reg. $1,725)
Aventon Level 2 Commuter e-bike (2025 low): $1,399 (Reg. $1,899)
Ride1Up Roadster V3 Lightweight Premium e-bike: $1,395 (Reg. $1,495)
Velotric T1 ST Plus Lightweight e-bike: $1,399 (Reg. $1,649)
Lectric XPress 750 Commuter e-bikes with $366 bundle: $1,299 (Reg. $1,665)
Lectric XP4 750 LR Folding Utility e-bikes with $356 bundle: $1,299 (Reg. $1,655)
Lectric XP Lite 2.0 JW Black LR e-bike with $365 bundle: $1,099 (Reg. $1,464)
Ride1Up Portola Folding e-bike with BOGO accessory promo: $995 (Reg. $1,095)
Lectric XP4 Standard Folding Utility e-bikes with $79 bundle: $999 (Reg. $1,078)
Lectric XP Lite 2.0 Long-Range e-bikes with up to $365 bundles: $999 (Reg. $1,364)
Heybike Hauler Single-Battery Cargo e-bike: $999 (Reg. $1,499)
Rad Power RadExpand 5 Folding e-bike (new low): $999 (Reg. $1,599)
Navee ST3 Pro Electric Scooter (new model): $760 (Reg. $1,014)
ENGWE Engine Pro Folding e-bike (use code 9TO5ENGWE50): $750 (Reg. $1,500)
Navee GT3 Pro Electric Scooter (new model): $520 (Reg. $714)

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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