Welcome back to the channel everyone today, i want to talk about another hedge fund that suffered a massive loss as a result of shorting amc, and i also want to expose the new west christian lawsuit, so stay tuned and let's make some money, but guys before i Dive into the video, i just want to give a massive shout out to the 4 700 of you that have currently ding that notification bell, because you guys are always the first to watch a new video as soon as it's released so guys be sure to drop A like down below subscribe to the channel and ding that notification bell, if you haven't already so that you don't miss another video, just like this one and just a quick one before i dive in with the key information. If you want to pick yourself up, some cool amc, related merch, just like this or maybe an ape or a spacesuit, be sure to check out those links down in the description below to my clothing store. And now i want to dive straight in with the key information, so you may remember this article that was released last month on the 6th of august oh day, bets against meme stocks with an amc short position. Oday asset management's, james hanbury, has bet against the indebted cinema chain, a retail investor favourite, whose shares have risen more than 16 fold this year.

Hanbury, who is pictured, who manages the firm's lf brook absolute return fund, took out the short position which will benefit from amc's share price falling recently, according to investor letters seen by the financial times, amc was a beneficiary of the reopening trade after being hit hard during The lockdown, but really caught a tailwind from the retail investment frenzy earlier this year. In the wake of the gamestop saga, the cinema change shares rose from two dollars at the start of the year to a peak of over 62 dollars in early june and are still trading at 33 dollars and 51 cents, of which this was back. At the start of august, so their amc short position was one of the fun's top performing positions in july, as the share price fell from around 54. to 37, but interestingly, oday never closed their short position.

Maybe they were hoping. Amc fell all the way back down to two dollars or even went bankrupt, because that way, oh, they wouldn't actually have to cover their short position and therefore realize those gains and therefore they wouldn't have to ever pay tax. Although really oh, they should have been a little bit smarter than that betting against meme stocks can be painful. However, us hedge fund, melvin capital, brought the brunt of the losses on gamestop in january, losing 53 in its flagship strategy over the month requiring a 2.8 billion dollar bailout from rival hedge funds, point 72 and citadel to survive.

The 487 million dollar lf brook absolute return fund is up 45.7 over one year and 38.9 over three years, so that would have been a massive massive unrealized gain. They had on the amc short from 54 down to 37 that would have nearly equaled their entire. Last year's profits from just one singular trade, so really they should have realized that gain and closed their short, but they didn't and now amc, entertainment, short seller. O'day asset management hedge fund has suffered a massive loss over the past month.

Amc entertainment, the erstwhile distressed movie, theater chain that has seen a dramatic reversal in fortunes amid a mind-boggling retail driven stock price rally continues to inflict crippling damage on its detractors. Against this backdrop, the hedge fund, oday asset management, has emerged as one of the most prominent casualties in recent times as amc entertainment shares maintained their inexorable upward trajectory as a refresher. The london-based hedge fund had reported a substantial short position in amc, entertainment back in august before this disclosure the fund had made a killing on its bearish bet. As amc stock price collapsed from 57 to 37 dollars in july, however, the table seemed to have turned on hanbury o'day, who manages the firm's lf brook absolute return fund and currently oversee around 1.5 billion dollars in assets.

As an illustration, amc, entertainment shares have now breached the 50 price level and are up around 70 percent since henry o'day disclosed his bearish bet on amc, maybe oh, they asset management actually continued to average down their short position. Therefore, they aren't currently sitting on unrealized gains. Maybe they're not even breaking even and they are actually taking on massive massive losses. This just adds to that list of casualties that we've seen in recent months of hedge funds, trying to bet against amc and gamestop trying to short them into the ground.

But as always, the apes are holding strong and will not let amc or gamestop be made bankrupt. Hopefully, over the next week or two amc can continue that upward trajectory, reaching new all-time highs and potentially enacting that coveted short squeeze and that mother of all short squeezes to be precise. We also have some brilliant news about the fundamentals of amc as well disney to premiere remaining 2021 films exclusively in theaters before releasing on streaming services. The move comes after disney was sued by scarlett johansson over the same day, release of black widow in theaters and on disney plus.

This just goes to show that movie, theaters and cinemas are absolutely not dead and can command that exclusivity rights. Now matt megaman has gone a little bit further in depth and has actually exposed that new amc lawsuit, while where's christian was hired by naked truth incorporated. Could this be a possible chad, 2.0 situation with another amc scam? It's the same scam, a thread from my previous due diligence. We've seen that chad was indeed a scam.

I took a look at the people behind naked truth incorporated to see what we find. So we can make a judgment for ourselves if it's legit, all the info is in the public domain. So, firstly, if you have a look at the executive board members, you can see that we've got three board members, paul jason and heather. First off paul.

He started doing some keto videos and moved on to stocks and crypto. He was talking about anything and everything being hyped from doge to safe moon to gamestop and amc. He was also sharing the chad scam on his instagram in the past and made videos, but has not come out with any video talking about it when the scam came to light more on that in a little bit number two jason no info on him. As of yet no mutual friends with paul or heather on social media, strange to me how they all got in contact no socials for him and cannot find any registered secretary in the state of ohio with that name number three heather he's a private investigator who's been In a previous company called calibre, sanctions incorporated take note of the phone number as it's linked to a lot of this, that company apparently investigate everything and anything literally.

They will try and investigate what dog pooped in your yard, for a fee check out the list. It goes on and on and on, however, interestingly, their license has since expired. He tried to find some references, reviews cases or testimonials on their work and there's been nothing to say: they've been successful in their fields. However, i looked a bit further to see the legitimacy of the new gofundme page.

That's appeared for naked truth, incorporated retail investors bridging the gap. Supposedly, the gofundme has already raised 104 thousand dollars of the 250 000 goal, but how did it raise so much money in such a short space of time if this is a new gofundme and how did word get out so quickly? So, let's look at the date. It was created 11th of july 2021, sound familiar, it's the same date as when chad set up his goal with the same 250, 000 amount. Now you might think that the amount raised is less than what chad has raised.

Well, refunds get taken away from the total, so it's been reduced and also, if you follow one of the old links to chad's gofundme, it redirects you to the new naked truth incorporated gofundme. So it's basically the same gofundme just with the name changed and also, if you have a look at the new gofundme comments, there's comments from a month ago, mentioning chad type in the url and see for yourselves. In addition, a member of this community donated one dollar to the chad gofundme and is still getting updates from it, meaning this is the same one and they're all putting up a front. Heather roberts has also been following chad on stock twits as well, and therefore this is chad 2.0 round two.

They are using new tactics as a front getting private investigators on board. There is no legitimacy to this gofundme from what i can see. Please spread the word as they are trying to fool us again now. I personally have to admit i am very disappointed with wes christian.

He originally tweeted saying happy to announce that i've been hired by naked truth, incorporated to spearhead and lead an investigation into market manipulation and naked shorting, but he then followed up that tweet with let's put rumors to rest naked truth incorporated is a not-for-profit organization. That's been vetted by a third-party investigator cleared and approved by the five board members, none of which are chad brewer. Only the executive board members are identified on the website. Naked truth incorporated also has an outside cpa and a lawyer considering it's literally just been exposed.

I am very very concerned for wes getting behind this movement. It looks like this could potentially ruin his reputation and, finally, with amc over 50 again, it's estimated that the shorts lost nearly 412 million dollars yesterday on friday. That's an absolutely massive massive sum, as i said. Hopefully, amc can continue its upper trajectory to sixty dollars, seventy dollars onto new all-time highs, and then hopefully the short squeeze will begin after that.

That means that short sellers are going to be losing billions upon billions upon billions of dollars when they do eventually cover their shorts, and we are all going to be very, very wealthy. I am very much looking forward to the next few weeks, as it seems like game day is almost upon us going forward after the squeeze i'm going to continue making youtube videos about cryptocurrency and about growth stocks. Anything to get you the best returns possible. Guys be sure to, let me know down in the comments below what you think about oday asset management, not covering their short position and taking on massive massive losses, also be sure to check out those links down in the description below to pick yourself up.

Some cool amc, related merch and, as always guys, if you enjoyed this video, be sure to check out some of my others. Alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted. When i upload a new video cheers.