Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

Imagine you “own” like 3-5 things, including some Crypto Crap, and “Memes” (like AMC)…

AMC was at $52 during #MOAM (Mother of All Month-End Markups) in July! Do you know how many of The People who have ZERO experience (never mind successful experience, across Cycles) were enticed to “not miss” and/or chase the new “bull market” in July?

Answer: unknown.

But we do know that AMC is down -73% IN A MONTH and whoever bought it at $52 needs to be up +270% (from here) to get back to break-even. 

CHART OF THE DAY: AMC's Journey to Zero - COD3