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But what they're trying to achieve here (AFAIK) is a short squeeze. The whole point of this move is that there's massive short interest in GME, and the WSB crew
by raesene9 6y ago
But what they're trying to achieve here (AFAIK) is a short squeeze. The whole point of this move is that there's massive short interest in GME, and the WSB crew (and anyone else long on it) can take advantage of it until those positions are closed.
After that, if people hang around, sure they'll likely lose money if they bought at the top, but until those big positions close, there's money to be made.
- briankelly 6y agoIt does assume the short position is naked which might seem like the case but is not a confirmed fact as far as I understand the situation.
- raesene9 6y agoSo from what I read, the shorts were (at least at one point) at 140% of the available float. If that's true (AFAIK) that means at least some were naked.