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Hasn't been remotely enough volume for this to be true. Really weird that people are trying to manipulate the narrative like this.

derivagral 6y ago
Volume as measured... on an exchange? Funds that are short likely covered this in off-exchange transactions like dark pools or similar services; I don't believe that'll show up in most common liquidity figures on retail exchanges.
_jjkk 6y ago
The narrative-pushing has been very strange. I have Reddit-addicted friends who told me the ONLY people who would lose money after all this would be the evil hedge funds, and every retail investor was bound to make a killing if they just HODL I tried to explain that all those people have to actually SELL, hopefully near the top, to a willing buyer... Most people are not putting much thought into this beyond the fact that it aligns with their exiting emotions toward The Man and sticking it to him somehow.
- imustbeevil 6y ago
  Yeah, it's very odd because of how transparent the process is. Step 1: Buy the stock with 140% short interest. -> Price goes up. Step 2: Shorts cover (This is the "Sell" phase for retail investors). -> Price goes up. Step 3: Shorts are finished covering (This is the "you missed it" phase for retail investors). -> Price tanks back to $15. I personally think we're either at the end of step 1 or the beginning of step 2, because we haven't seen the volume necessary for step 3 to be possible, unless you believe without evidence that all of the shorts covered outside of the exchanges. Which would be a claim I'm not comfortable making without evidence.
- duxup 6y ago
  There's a very alluring populist type narrative to all this. I find it attractive too to some extent. The financial system is bonkers and unfair. But... I think that populist sentiment also blinds folks to a great number of things. I know it brings in a whole other mess but Trump, he loved his populist rhetoric too, even if his actions were anything but that. It's also not entirely clear to me who, other than some hedge fund, actually shot shafted here and who... maybe the man, is also along for the ride / possible profits here. People will unwittingly vote for the man to stick it to the man.

derivagral 6y ago

Volume as measured... on an exchange? Funds that are short likely covered this in off-exchange transactions like dark pools or similar services; I don't believe that'll show up in most common liquidity figures on retail exchanges.

_jjkk 6y ago

The narrative-pushing has been very strange. I have Reddit-addicted friends who told me the ONLY people who would lose money after all this would be the evil hedge funds, and every retail investor was bound to make a killing if they just HODL I tried to explain that all those people have to actually SELL, hopefully near the top, to a willing buyer... Most people are not putting much thought into this beyond the fact that it aligns with their exiting emotions toward The Man and sticking it to him somehow.

imustbeevil 6y ago
Yeah, it's very odd because of how transparent the process is. Step 1: Buy the stock with 140% short interest. -> Price goes up. Step 2: Shorts cover (This is the "Sell" phase for retail investors). -> Price goes up. Step 3: Shorts are finished covering (This is the "you missed it" phase for retail investors). -> Price tanks back to $15. I personally think we're either at the end of step 1 or the beginning of step 2, because we haven't seen the volume necessary for step 3 to be possible, unless you believe without evidence that all of the shorts covered outside of the exchanges. Which would be a claim I'm not comfortable making without evidence.
duxup 6y ago
There's a very alluring populist type narrative to all this. I find it attractive too to some extent. The financial system is bonkers and unfair. But... I think that populist sentiment also blinds folks to a great number of things. I know it brings in a whole other mess but Trump, he loved his populist rhetoric too, even if his actions were anything but that. It's also not entirely clear to me who, other than some hedge fund, actually shot shafted here and who... maybe the man, is also along for the ride / possible profits here. People will unwittingly vote for the man to stick it to the man.