Re:GameStop missed out on capitalizing on the Reddit rally
by JumpCrisscross on Thursday February 11, 2021 @09:02AM
(#26101578)
> The short squeeze happened two weeks ago when the stock ballooned from $20 to $480
Almost certainly not. We will learn, in time, how much of the run was shorts closing out and how much of it was momentum.
Keep in mind, too, that most institutional short sellers hedge their risk with out of the money calls. Given the increase in volatility, those calls would have more than covered the short losses.
People on WSB had some arbitrary price targets in mind and are in denial that the stock hasn't squeezed yet because they haven't hit those (completely made-up, with no basis in anything) targets.