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Welcome everyone back to the channel. Today I want to talk about Ken Griffin, who sent us a message. And I also want to talk about some new signs that the contraction is coming, and that it may be closer than we all think. So stay tuned and let's make money. And now I want to get straight to the key information.
So, billionaire Ken Griffin just beat out a group of crypto investors for a rare copy of the US Constitution. So it's clear that Ken bought a rare copy of this US institution for 43 million US dollars. Beating the price of a group of crypto investors in a record-breaking auction on Thursday. An extremely rare copy of the first edition of the Constitution has sold for more than double its high estimate of $20 million, setting a world auction record for any printed document.
The hedge fund billionaire was slightly below the price offered by the Constitution DAO, a group of over 17,000 crypto investors who raised $40 million to purchase the document. So, Constitution DAO would have won the auction with their bid of $40 million , which was double the expected highest estimate.
But apparently Ken Griffin swooped in and even beat the price of Constitution DAO. Ken Griffin has no intention of even displaying the Constitution in one of his many homes. He actually intends to donate it to a museum in Arkansas. And Ken Griffin even said in his statement: โThe U.S. Constitution is a sacred document that enshrines the rights of every American.
And that is why I intend to ensure that this copy of our Constitution is available to all Americans and visitors, so that they can view and appreciate it in our museums and other public places.โ Moomoo is currently running its biggest promotion yet, giving away five free shares worth up to $3,500 each, as well as a share of NIO worth around $40.
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And if you deposit $2,000, you will receive the last three shares worth up to $3,500 each. So, that's potentially five free Amazon shares you can get just for signing up with Moomoo . But, as Cannibal says on Twitter, it's a stain on the history of this document. Absolutely unreal. It was an act of mockery .
He did this to let us all know that he can do anything he wants. He believes he is above the law, and he takes a stand against retail investors to firmly support this idea. And in fact, CNBC said almost exactly that near the end of this video that I'm going to show you now . Unfortunately, I don't have an extra $43 million to invest in this.
It was none other than Ken Griffin, the founder of Wow. Uh, Citadel. He won this copy of the first edition of the U.S. Constitution for $43 million, which was sold at a Sotheby's auction held yesterday. What does he plan to do with it ? Well, he plans to loan it to the Arkansas Museum of Art for public display.
What is notable, of course, is that this is, uh, the last remaining copy of the first edition of , uh, the Constitution, which is now in private hands. Although , as I mentioned, he intends to allow it for public display in an art museum. So, the mystery is solved. It was Ken Griffin who won this copy of the first edition of the United States Constitution, paying $43 million for it .
Leslie, I have a more important question for you. Do we know which of his hundred million dollar properties it will end up in? Will it be an apartment in New York? A mansion in Palm Beach? A penthouse in Chicago? Public display. Uh , where? In Arkansas. Arkansas Museum of Art. So, uh, if you can, uh , get on a plane to Arkansas, you can see it too.
I think he just wanted to kill cryptocurrency to prove his point . The crowd, you know, as Mike Santoli says, trolls trolls and imitates monkeys, right, Leslie? I think that's what makes this story so great, of course, considering all the events that happened earlier this year, but, uh, you know, the mystery is solved.
In the end, it was Ken Griffin who won. Even CNBC said exactly that. Ken Griffin is just imitating monkeys, and he's basically just trying to prove his point. Ken obviously had no intention of buying this to display in one of his many homes. He actually does this solely to beat the price of a group of crypto investors.
But another interesting theory is that he may be trying to control Google's narrative again. Now, if you search for, say, Ken Griffin crypto, Ken Griffin and the law, Ken Griffin legal, anything related to that, I'm sure you'll probably get a bunch of results for that news story, not the obvious one that Ken Griffin is lying under oath.
Now you will see Ken Griffin buying a copy of the Constitution. So, this could just be another attempt by Ken Griffin to control the Google narrative around his name. But I also want to talk about some signs that compression may be closer than we initially thought. Based on this tweet, someone just sold a huge number of call options.
The last time they did this was on the Friday before the week we were betting, but that doesn't guarantee a raid as we only have one other instance. But they do this to hide a short interest in options before the run, to make it look like they are hedging the risk. So this tweet first leads us to someone selling $16.7 million in AMC call options , then $34.5 million and $17.8 million in AMC call options.
Bobby starts by saying that a huge bear market has passed through AMC today. But apparently this Astro guy commented, saying, โNo. "I think it's someone hiding some short-term interest." Bobby wasn't entirely sure how it worked, so he did a little searching and Googling and answered his own question.
This memoir contains a dozen pages of highly technical terminology, but here is a brief summary. If short sellers face pressure because the stock is difficult to buy, or scrutiny for an illegal short position, they can create the appearance of closing their short position by using deceptive options transactions.
A hedge fund that is short on a stock can write call options on that stock, meaning it now has a short position on the call options. By selling call options to someone else, usually a market maker, and simultaneously buying shares under those call options, the shares purchased under the call options may be synthetic long positions, meaning they are not part of the original trade of shares sold to the hedge fund by the market maker, which takes the other side of the options trade.
So, the hedge fund starts by selling call options or short selling call options and then buys some synthetic stocks that have been created for them by a market maker. This works because if a market maker buys options from an options seller, the market maker has legal privileges to execute a version of an open short sale or create these synthetic stocks as part of its hedging function.
Under current rules in the current system, this is necessary for market makers to protect themselves when facilitating options trading. As a result of the above transaction, the hedge fund that sold the call options was able to buy synthetic long stocks against those call options. Synthetic long stocks are the other side of naked shorts, legally initiated by a market maker so that the market maker can hedge.
The hedge fund that bought the stock can now report that they have redeemed their short position by buying long shares, even though obviously these long shares are only synthetic. Unless they didn't close the position at all. The synthetic shares they bought are cancelled out by the short call option position they initiated.
The need to maneuver by having a market maker hedge a call option position they bought from a hedge fund. So, the nearly $60 million in call options that were just sold could be an attempt by a hedge fund to hide its short position. So, this could mean a squeeze next week or the week after as hedge funds now try to cover their short positions.
As Robert says, based on GameStop data in January, the $ 76 to $150 region is the range where they lost control or where the hedgers lost control, and the price quickly skyrocketed into that area. I've also said many times on this channel that I think the $100 to $200 region is going to be the region where short films will lose control and the pressure on short films will start.
I also think the fourth quarter will be brilliant for AMC because there are so many quality movies on the horizon. Apparently, Ghostbusters: Afterlife is just coming out. We also have "The Matrix : Resurrections" just around the corner. We also have the new Spider-Man: Homecoming and many, many other movies.
I think the fourth quarter could even potentially surpass the third quarter for AMC in terms of revenue and cash flow. I also want to talk about GameStop, as they believe that MOASS already exists for GameStop. MOASS is here. GameStop tweets at the close of the market that something important just happened and could potentially announce an NFT dividend, the GameStop NFT dividend, 10 days before the record date per the rules.
10 days until Friday, Cyber โโMonday has just arrived. The SEC's new reporting requirements will be similar for all short positions with transparency during forced short closeouts. The post says that many interesting events happened on Friday. We had the biggest price-to- volume increase in history, and no news to justify it.
GameStop also tweeted, announcing something important. The SEC adjusted reporting requirements, and all NFT-related job postings were removed from GameStop's website . He said I do n't have proof, but I think GameStop just announced its NFT dividend to brokers on Friday. At least 10 days before the registration date, which may be Cyber โโMonday .
Shareholders can be notified no later than 10 minutes before the record date. I believe the announcement about the NFT market, GameStop transformation, and NFT dividend will be made on or shortly after November 23rd, when the ban on the ban removed by Ryan Cohen will also be lifted. And so this could be the beginning of the end for GameStop, and I also think AMC will soon follow suit .
Because don't forget that many of the institutions that sell AMC stock also sell GameStop stock. So if they get squeezed by GameStop, then AMC will get squeezed too. And now I also want to talk about Deutsche Bank seeing Robinhood's stock decline getting worse. A Deutsche Bank analyst suggests selling shares of Robinhood, which is favored by day traders.
Robinhood has apparently fallen 59% from its peak, hitting a series of new lows. Analyst says Robinhood's market share has already fallen to a record low and there's still room to fall. Jochen Vermelinger said the company's outlook may have looked too optimistic amid the surge in day trading. The meme stock phenomenon we saw en masse earlier this year was more about Robinhood's recent growth in customer numbers and likely led to a reassessment of the company's underlying fundamentals and growth trajectory.
So, while AMC hasn't implemented compression yet, it's nice to see Vlad's company actually falling apart. And I also wanted to let you all know that Evergrande has been delisted from the Hang Seng Index in China. In fact, they removed the S&P 500 or Dow Jones from the Chinese version. This is effectively a preparation for Evergrande's bankruptcy as it will be delisted from the stock market.
message Ken Griffin sent us and what you think about the compression that is potentially just around the corner. And if you have n't already, be sure to sign up for Moomoo to receive these five free shares worth up to $3,500 each. . Or subscribe to the channel and click the notification bell, because that way you will receive notifications when I upload a new video. Hooray.
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