Exclusive: AMC Ape Matt Kohrs Says, 'Short Term, My Prediction Is Just Crazy Volatility'

Matt Kohrs, a popular YouTube personality among the retail investor crowd that “diamond-hands” shares of GameStop Corp. GME and AMC Entertainment Holdings Inc AMC appeared Tuesday on Benzinga's YouTube show "Stock Market Movers" with Money Mitch to discuss the current sentiment around GameStop and AMC, now that the "meme stock frenzy" of 2021 has blown over.

"It ebbs and flows," Kohrs said. "We have periods of expansion and consolidation. Right now yeah, it’s fun to see AMC and GME doing well."

AMC is trading 4.45% higher to $15.60, while GameStop is trading 5.68% higher to $137.12.

"There’s a lot of volatility in the markets," Kohrs said. "These are fun opportunities — I feel like a lot of the time there is doom and gloom, like, you have to stay away [from the stock] but, in reality, any of these big moves make big money."

What’s Your Outlook On The SPY? Do You See It Bottoming, And What Would It Take For You To Call It A Bottom?
Short term, my prediction is just crazy volatility. CPI comes out on Wednesday, an hour before the market opens. Right now the [inflation] expectation is 8.8% — that is hot, hot inflation. If we come in any hotter — just be ready. The premarket is going to go bonkers.

Medium-term, I think we go lower — I’m watching key levels. I think we go lower because inflation is very bad. Most likely at the end of July when we get the preliminary numbers for Q2, it’ll probably be officially in a recession.

The bottoming signal would be one of two things:
1. A series of inflation reports that are finally coming down, showing that the Fed has done what it needs to.
2. When the Fed stops raising interest rates or begins to bring them down, which I don’t see happening until 2023.

Do You Think Inflation Comes In Higher or Lower Than The Expected 8.8%?
My gut is saying we meet expectations. Though recently the White House said to expect a high CPI. If it comes in at 8.9% or 9%, things are going to get wild.

I think we come in, in-line at 8.8% — I think the reaction to that is going to be bearish.

Where Is Retail Investor Interest Right Now?
Day over day, we’re still seeing massive interest in AMC and GameStop. The SPY is down, yet both [meme] stocks are up today. Right now, they have elevated short-interest, both hovering around 20%, so day-over-day, there is still a massive community around the stocks.

Was The Call For The Death Of Movie Theatres Exaggerated?
Box office numbers are at $4.2 billion on the year. We’re clearly outpacing 2021, we’re clearly outpacing 2020 — and, I say give it a year, we’ll start beating 2019 numbers.

The death of movie theatres? Simply not true.

Do You Agree That CEO Adam Aron Taking On Short Sellers on Twitter Is a Good Thing For The Company?
I’d say it is two-fold. I lean toward yes, because it is a part of the growth story. It gets the entire investor base fired up.

But, on the other hand, take the Hycroft Mining Corporation HYMC deal as an example. Aron was going to go on CNBC to talk about it but canceled the meeting because his lawyers advised against it. So, he clearly has a team around him that gets him to stop when he needs to be stopped.

You can watch the entire show, here. 

Photo: mentalmind via ShutterStock