AMC's 'ape army' is fighting for free-market capitalism, says former investment banker
CHICAGO, ILLINOIS - JUNE 01: Movie poster of current offerings are displayed on the front of an AMC theater on June 01, 2021 in Chicago, Illinois. Mudrick Capital has agreed to purchase 8.5 million share of the theater chain for $230.5 million. (Photo by Scott Olson/Getty Images)

WASHINGTON (SBG) - AMC Entertainment has seen a number of spikes in their stock value lately, thanks to a Reddit community that calls itself the “Ape Army” that has driven the recent stock volatility through a short squeeze.

“Online retail investors, what they're really fighting for, purely and simply, is free-market capitalism,” said former investment banker and New York Times bestselling author Carol Roth to The National Desk’s Jan Jeffcoat. “They don't believe, and rightfully so, that the stock market in its current state is free and fair and they feel like it is tilted in favor of the big guy.”

Seven AMC insiders have sold a portion of their stakes since the latest spike began at the end of May.

“This is sort of a digital Occupy Wall Street but instead of standing in the street with their signs, they're using their balance sheet, and they're using their money, and what they want at the end of the day is just for transparency and they want a level playing field between the big guy and the little guy,” said Roth.

On Wednesday, Ohio became the first state to file a lawsuit to declare Google as a public utility, arguing that Google has a duty to provide the same rights for advertisement and product placement for competitors as it provides for its own service.

“A lot of times these big companies are the ones who are pushing for regulation because at the end of the day that ends up being anti-competitive and keeping smaller businesses out of the market,” said Roth. “It's really easy to say these are big bad companies and we need to do something, but we need to be careful about that ‘no good deed goes unpunished’ situation.”

As inflation jumps to a 29 year high, what can that tell us about what might be down the road?

“We know that the way that the government calculates inflation is underreported. You don't need the government to tell you this, you can just go to the grocery store, you could go to fill up your tank of gas, you could try and buy a house, try and buy stock, you can see that the prices of everything have gone up, and this is the outcome of the government trying to shut down large parts of the economy and try to put it back up again,” said Roth.

Roth says what’s not being discussed is the government’s effect on inflation, from increased housing costs due to government regulations, to business and education prices.

“Anytime you've got the government involved, you're going to get less of what you want and it's going to become more expensive,” said Roth.

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