I'm just a finance enthusiast, so take what I say with a grain of salt. Now that GME is clearly overvalued, that makes the shorting even more expensive. The bor

I'm just a finance enthusiast, so take what I say with a grain of salt. Now that GME is clearly overvalued, that makes the shorting even more expensive. The borrow fees that Melvin capital owes for their shorts are less than the current ones (iirc ~25% vs ~50%). If you're a hedge fund that wants to make money to short GME, it would make sense to buy the shorts off Melvin rather than the public market. Melvin itself does not have the liquidity to maintain these shorts, but Point 72 and Citadel likely do.