Kevin Paffrath or Youtuber “Meet Kevin” decided to run for governor of California and ran a 32 hour fundraiser. He wanted to piggy back off of the recent $AMC run and offered to buy AMC stocks relative to the amount of donations he received.
On May 29th, Kevin Paffrath or @realMeetKevin or “Meet Kevin” on Youtube promised he would
For every $115 someone donates to my campaign during my livestream, I will buy $400 personally of $AMC stock next week AND HODL for 1 year (at least). For every $1115 donated, I will buy $4000 of AMC stock personally next week.– Kevin Paffrath tweet on May 29th, 2021
The donations started flowing in from supporters and people that wanted to get support behind the AMC rocket.
The $AMC part of the donation alone was $12,420.69!
Kevin Paffrath needs to buy over $52,195 in AMC stocks next week and hold it for a year!
The “next week” of June 1st to 4th came and went. Kevin Paffrath did not buy AMC stocks. Instead, he claims that buying call options and selling put options for stocks equating to that value is the same.
- Buying 1 GOOGL option at $50 ($5000 per contract) and saying that’s the same as investing $240,000 is not the same.
- Option play regardless of bullish or bearish, is not the same as buying “AMC Stocks”
- Kevin didn’t HODL it for a year, Kevin was paperhanding it left and right through the week.
- If you were to ask your account manager to buy “AMC stocks” and you see option contracts in your portfolio, is it the same thing?
Not only did Kevin buy options instead, but he paperhanded the option plays
Kevin explains how he bought back his AMC Put options as AMC rose during the day.
If selling AMC PUT option is bullish, buying them back is bearish
He continues to say selling Puts was a bearish move and keeps telling his viewers that they don’t understand. We understand. We are asking why you bought them back. Please don’t pick out the 1 or 2 comments that don’t understand and put that blanket on us all.
With the rules of WallStreetBets, when a user promises to do X if Y happens and not doing X will result in a user ban.
Supporters were duped into donating to Kevin Paffrath to get support behind $AMC and should demand their money back
How much is Kevin Paffrath Worth? How much is $52k to him?
There is a video released this same week where Kevin is trying to pump WorkHorse for it’s massive short interest. He states he bought $30k in call options and that’s only 0.15% of his portfolio anyways. That would mean Kevin Paffrath’s networth is at least $20 million dollars.
Kevin’s $52k AMC promise was only putting 0.3% on the line to keep a promise and he didn’t follow through!
Say the average ape has $200k in their account. This is putting up $520 on the line to keep his word.
Kevin Paffrath broke his first promise as a candidate for governor.
PredictIt is still taking bets if Kevin can be governor by end of the year. It should be a free 10% gain for the year.
UPDATE 6/4/21 : Meet Kevin’s Explanation and NEW PROMISE TO BUY $75k in AMC and HODL for a Year! (Possibly $100k)
The explanation starts by justifying by saying he thought “buying AMC stocks” meant the same as he invests the way he likes in AMC.
I thought we could have a good time, play the lines… the whole idea came out live and I didn’t think it through..– Kevin Paffrath on Live
Kevin Paffrath clearly stated the following
For every $115 someone donates to my campaign during my livestream, I will buy $400 personally of $AMC stock next week AND HODL for 1 year (at least). For every $1115 donated, I will buy $4000 of AMC stock personally next week.– Meet Kevin’s Promise
Kevin goes on to say it was live and nothing was scripted. These are the downfalls
Kevin PROMISES the following fix for 6/7/21!
- Market open on Monday 6/7/21 6:30am Buy $75000 in $AMC Shares
- IF AMC drops to $20, will buy $25000 more in $AMC Shares
Update 6/7/21 6:30am – Kevin followed through!
Although Kevin bumped into some WeBull issues, he followed through