Re:GameStop Is Rage Against the Financial Machine
by zinclozenge on Wednesday January 27, 2021 @12:11PM
(#25930733)
I didn't watch all the videos, but so far as I write this post, it does not appear that shorts have covered, or started covering (at least as of this morning). It seems like the price hike is due to big buyers and gamma squeezes. There's been systematic short attacks in an attempt to drive the stock down, but they keep getting neutralized by big buyers. It's been a wild ride.
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Re:GameStop Is Rage Against the Financial Machine
by toomuchtodo on Wednesday January 27, 2021 @05:15PM
(#25934818)
Short interest is still over 100 after today’s close. Watch for the gamma squeeze on Friday.
Re:GameStop Is Rage Against the Financial Machine
by herpderperator on Wednesday January 27, 2021 @04:48PM
(#25934461)
Melvin Capital did.[0]
[0] https://www.cnbc.com/2021/01/27/hedge-fund-targeted-by-reddi...
Re:GameStop Is Rage Against the Financial Machine
by jowsie on Wednesday January 27, 2021 @05:26PM
(#25934967)
You sure about that?
https://www.reddit.com/r/stocks/comments/l64xvw/gme_dedicate...
Re:GameStop Is Rage Against the Financial Machine
by __turbobrew__ on Wednesday January 27, 2021 @06:07PM
(#25935421)
What is stopping Melvin Capital from lying about closing their position in order to deflate the stock price so they can actually close out their short position when they are due this coming Friday?
Re:GameStop Is Rage Against the Financial Machine
by imtringued on Wednesday January 27, 2021 @06:12PM
(#25935463)
Yeah that is basically it. If you are safe why report on it? You don't gain anything. If you are in danger then a little lie doesn't hurt because even a tiny chance of success could mean billions of dollars for you.
Re:GameStop Is Rage Against the Financial Machine
by melq on Wednesday January 27, 2021 @05:31PM
(#25935028)
Couldn't they close their position and still have the short interest go up because of other investors opening new positions?
If these institutions are going on record as closing their positions, when they actually havent, aren't they committing some sort of fraud?
Re:GameStop Is Rage Against the Financial Machine
by ordinaryradical on Wednesday January 27, 2021 @05:45PM
(#25935187)
If you follow this in more detail you will see they have already misled the public on their positions several times. But when the choice is between your fund’s bankruptcy and an SEC fine, people do crazy things.