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LIVE: Kenny Polcari on AMC, SPACs, and Crypto

To cap off a fun week with some exciting guests, Kenny Polcari, managing partner at Kace Capital Advisors, will be joining TheStreet Live at 10:30 a.m. ET.

It's Friday, y'all!

To cap off a fun week with some exciting guests, Kenny Polcari, managing partner at Kace Capital Advisors, will be joining TheStreet Live at 10:30 am ET in the video below:

Jim Cramer is off today.

What's Kenny Watching?

"Good Friday morning…. Stocks finished lower in Thursday trading, though the major indexes finished off their worst levels on the day. By the time the bell rang – the Dow was off 23 pts, the S&P off 15 pts, the Nasdaq gave back 142 pts, and the Russell gave back 19 pts. Value outperformed growth. The FAANG M complex got slapped with the Tech Disruptors – got smacked. The ARKK ETF shedding 3.5% as investors once again chose to hit the sell button as the prospect of a monetary policy change becomes more and more real as the hours turn to days and the days turn to weeks. Meme stocks largely came up for sale and Jeffries has halted all short sales in some of those crazed names. AND AMC’s CEO Adam Aron – coming out and telling investors to not buy his stock unless you are prepared to lose everything – this after we saw a 96% surge in the stock and the company filed to sell 11.5 million more shares," Polcari wrote in his daily newsletter. 

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And Then There's the Jobs Report

Let's call this one...mediocre. It was a bit of a miss, but the unemployment rate did dip to 5.8%.

The economy added 559,000 jobs last month, below forecasts of 650,000, but up from 266,000 in April. Wages surged 2% from last year, compounding forecasts while underscoring the challenge employers face in bringing workers back into the market over the final months of the coronavirus pandemic. 

Finally, the Meme Stocks

Is AMC  (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report going to seek another round of capital raising?

CEO Adam Aron made the case, which would give the company the ability to pursue "value creation opportunities" for its army of retail investors. 

Aron said the 25 million request was a "more measured proposal" than the 500 million share request floated earlier this spring, which Aron said at the time would bolster the group's cash reserves and help reduce its debt load. 

"To successfully navigate the road ahead, we seek to assemble all of the financial tools that might help us. An important tool for any company is having shares available to issue if, and only if, the right value creation opportunity arises," Aron said in a statement. "We have been listening carefully to the sentiments being expressed by our shareholders, and this more measured proposal is important to give AMC the flexibility to respond to future value creation opportunities for the benefit of AMC and all of its shareholder owners.”