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Think about how this would have played out without the degenerates. Millions of shares floating, disinformation campaigns find their fruit in people who don't d
by vinceguidry 6y ago
Think about how this would have played out without the degenerates. Millions of shares floating, disinformation campaigns find their fruit in people who don't do their research. Shorters can cover their shares a few thousand at a time, cause the price to rise a bit, then do a touch of market manip to bring it right back down.
Rinse and repeat over a few weeks and the positions are clear. It's expensive because there's lots of interest but the amount of float is allowing massive under-the-radar moves. Very soon people lose interest because there won't be much in the way of massive gains anymore
The fact that the price keeps picking back up after every single dip means only one thing. There's still massive pressure going on. If this market were rational, it would clear. It's not clearing. No way GME is worth $360.
If it weren't for the HODLers, the only thing that would drive the price back up would be news stories piquing interest. That's not what we're seeing here. It's picking right back up because the people the shorters wanted to sell, didn't.
- majormajor 6y ago> It's picking right back up because the people the shorters wanted to sell, didn't. I know people believe they know about who's doing what in specific, vs seeing just the aggregate numbers, but I haven't yet been convinced that anyone actually knows this. I'm seeing news coverage, I'm seeing people lobbying others to buy more, I'm seeing speculation about what short sellers are doing, I'm seeing people saying their newly going short... I'm not seeing up-to-the-minute specifics on "Melvin Capital has lost $X dollars" or "still holds Y short positions." Yet the logic behind the "squeeze" assumes that specific knowledge. I see how what you say is a possible explanation for what we see. But I can also imagine other explanations.
- cccc4all 6y agoThe diamond hands are betting that GME go to infinity. The short sellers are betting that GME will go to 0. One will win and the other will lose. The question is who has the edge? Just look at what's happening with the market. Brokers are pulling all the shenanigans to convince normal people to sell. All the finance media are shilling for billionaire vulture short sellers. Has this ever happened in the history of finance? Why are these things happening? Does it seem like the super smart billionaire vulture short sellers have the edge? If they do, why don't they come in and make moves to drive down the prices from current levels? After all these millions of shares being traded, why is the short still above 100%
- tptacek 6y agoAs Levine points out, at this point, the short sellers are probably just betting that GME will go to 200.