Re:How r/WallStreetBets gamed the stock of GameStop
by TheAlchemist on Wednesday January 27, 2021 @01:43PM
(#25932092)
It's just a fact, sorry if it sounded patronizing. Also - this things happen periodically in the market (check the short squeeze on Volkswagen)
Yes - there is a short squeeze, but those redditors gains are only on paper. The stock may even go to 10,000$ from here - nobody knows. But at some point, those short sellers will cover or go bankrupt and the stock will be back to its 'fundamental' price - whatever it is, but certainly not 330$ that we see right now.
Re:How r/WallStreetBets gamed the stock of GameStop
by jjeaff on Wednesday January 27, 2021 @02:21PM
(#25932607)
Considering all the shorts that need covering, I'd say there is a lot of room for the retail investors to sell and take profit as the shorts close out their positions.
Yes - there is a short squeeze, but those redditors gains are only on paper. The stock may even go to 10,000$ from here - nobody knows. But at some point, those short sellers will cover or go bankrupt and the stock will be back to its 'fundamental' price - whatever it is, but certainly not 330$ that we see right now.