Re:Gaming the system: How GameStop stock surged
by FishbowlPrime on Wednesday January 20, 2021 @04:48AM
(#25844471)
Back then there was no Ryan Cohen or WSB. Shorts don’t control the narrative anymore. They had the chance to cover at $3-4 (at a significant profit) last year, but they were too greedy and wanted the stock to go to $0 and see GME file for bankruptcy.
The interest rate to borrow GME shares has little to do with the Fed rates. It actually hit 45% last week as there are almost no more GME shares available to borrow.
Shorts are bleeding about 2% every day just on interest and have little road left to run.
The interest rate to borrow GME shares has little to do with the Fed rates. It actually hit 45% last week as there are almost no more GME shares available to borrow.
Shorts are bleeding about 2% every day just on interest and have little road left to run.