With Hundreds of Thousands of Followers on Social Media, Matt Kohrs Has Become a Leading Voice for the “Ape Movement”
Few times in history do we see such a movement that AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) have created. If you’re not completely up on what meme stocks are or why any of this matters, let’s get you up to speed quickly. Late last year, retail traders found a home in GameStop stock as one of the most heavily shorted and failing companies thanks, in part, to the global pandemic.
Famed Big Short investor Michael Burry had begun building a position in the penny stock back in 2019. The pandemic added more pressure even considering Burry’s stake but fast-forward a bit, and hype surrounding a huge, short interest along with big support from investors like Chewy founder Ryan Cohen helped build a cult-like following from traders on Reddit. Ultimately, GME stock would soar to highs of $483 in late January.
This turned the focus for retail traders from “We need to fight back against hedge funds who abuse their power in GME stock” to “We need to fight back against hedge funds” in general. The term “Reddit stocks” and social sentiment became synonymous with big breakouts in heavily shorted penny stocks & higher-priced stocks alike. AMC Entertainment, Koss Corp. (NASDAQ: KOSS), Express Inc. (NYSE: EXPR), and even Nokia (NYSE: NOK) were among the countless former penny stocks that retail traders came to the aid of this year.
The “ Apes,” as they’ve become known, represented the rise of the retail trader who, until recently, has only been regarded as “dumb money.” Now these “Apes” have a voice, and the entire market has noticed. There are even ETFs that were created to follow social-sentiment-driven stocks, including the VanEck Vectors Social Sentiment ETF (NYSE: BUZZ), SoFi Social 50 ETF (NYSE: SFYF), and the Direxion Low Priced Stock ETF (NYSE: LOPX), among a few others.
Moon Gang & Matt Kohrs Emerge as A Leading Voice for AMC, Meme Stocks
While there’s been plenty of self-proclaimed pundits weighing in on AMC stock, GME, and other Ape-focused names, specific groups have risen as leading voices in the market. One of these leading voices comes from the “Moon Gang” figurehead Matt Kohrs. He has been featured on and sought after by financial outlets including Fox and CNBC for his insight and deep understanding of the social movement fueling meme stocks. With thousands of followers across platforms ranging from YouTube, Twitter, Instagram, and Twitch, his daily live streams have become a familiar island in a sea full of FUD, FOMO, and noise surrounding meme stocks.
Where Does Matt Kohrs Stand on AMC Stock?
While Kohrs discusses other stocks on his daily streams, AMC stock is evidently the most frequently talked-about stock. Whether it’s the daily outlook on the equity itself or a discussion on social sentiment, topics of all types are discussed by Matt on his live streams. In general, despite the ebbs and flows of AMC stock over the last few months, his stance has remained bullish.
While Kohrs didn’t start his YouTube Channel until March of 2020, it has quickly grown into a destination of its own thanks to the insight he has given daily. Whether it has been to address rumors running wild or talk about technical levels & trends, his motto has been to simply share his finance journey with the world.
What Does the Future Hold for AMC Stock, The Ape Movement & Moon Gang?
Kohrs’ streams began catching traction when GME stock began peppering headlines during the early days of the Ape Movement. Giving technical analysis on popular, headline-driven topics helped boost his support exponentially thereafter. This seems like a long way from his aspirations as a Computer Science Major at Penn State. But as the market has evolved, so have those participating. The Ape community is now made up of a diverse group from all walks. While many thought this was a singular event with a handful of heavily shorted stocks, the paradigm shift that occurred with AMC and GME has become quite apparent.
In Kohrs’ case, his following of mainly millennial investors thrives on this mob mentality, constantly looking for new information to gain the edge over ‘hedgies.’ What’s more, his background in developing trading algorithms has also given Kohrs a deeper understanding of how certain trends can trigger directional momentum in the market. Predictive modeling systems, drawdown analysis, and even noise are different variables he’s used to developing his bespoke programs.
What does the future hold for meme stocks like AMC and more importantly, the Ape Movement? In his own words, Matt Kohrs told PennyStocks.com:
“I believe we have entered into a new age of trading. With the rapid explosion in technology, we are seeing more and more retail traders. These traders are redefining what gives a company, and its stock, value. Beyond that, the general public is gaining more and more market knowledge. I find this part to be particularly exciting because it’s as if the mysterious curtain hiding Wall Street is finally being pulled back. As for AMC and GME specifically, I think the sky is the limit. The shorts, the people who are betting the stocks will fall in price, have not covered their position, and the ‘Ape’ community is growing on a daily basis. These two things are a very exciting combination, which means the narrative is still very much alive.”
Clearly, with the rise of interest in a more “social activist” approach to trading & investing, market trends are quickly evolving, forcing the hand of big money to readjust their thinking when it comes to the stock market today. Groups & Social Movements like Moon Gang and Matt Kohrs are quickly growing & have become a driving force for change for retail investors within the stock market, making it a less than favorable time to be a “hedgie”!