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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,
by FishbowlPrime 6y ago
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.