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Believe them or not, they can easily confirm whether GME still has > 100% shorts[0], which it does. 0. https://www.highshortinterest.com/ https://www.highshort

by Tenoke 6y ago

Believe them or not, they can easily confirm whether GME still has > 100% shorts[0], which it does. 0. https://www.highshortinterest.com/ https://www.highshortinterest.com/

mpalczewski 6y ago
from that site "Database last updated on January 29, 2021" Typically these stats are updated slowly.
- deleted 6y ago
  [deleted]
dragontamer 6y ago
Yeah. So a bunch of shorts closed their position at maybe $50 when the price was skyrocketing, and then reopened their position at $300 or $400 (if they timed it with the peak). I'm not sure why people expect the short interest to change at all. If shorts thought it was worth shorting at $15, they sure as hell would be shorting at $300 or $400.
- celticninja 6y ago
  The cost of shorting the stock is a percentage of the cost of the stock on top of the stock price.
  - deleted 6y ago
    [deleted]
  - fractionalhare 6y ago
    Kind of. But it really depends on your relationship and agreement with your prime broker.
  - jeffbee 6y ago
    And that price has declined by 80-90% in the last week along with the percentage cost to borrow. It's still expensive to borrow GME but if you have an idea that a stock is going from 500 to 0 in a week or two you don't care about the cost to borrow.
- fractionalhare 6y ago
  A lot of new shorts have also jumped in when the old ones left. The old shorts haven't necessarily bought back in, especially if they're running cautious after getting their faces ripped off.
- nowherebeen 6y ago
  That is unlikely the case. Closing the short would require them to write massive losses. Their best strategy has always been wait it out. They most likely purchased a bunch of options to lock in their losses from getting worst and are waiting for the price to drop back down.
dannyphantom 6y ago
I may be incorrect but I believe that data is somewhat outdated from the previous FINRA short interest report; it looks like the next report is due to be shared today, Tuesday Feb. 2 at 6-PM and the next on the 9th. So, we'll potentially see if that is indeed the case either tonight or on the 9th which I believe will have the most recent data as the one this evening will already be outdated. Linky: https://www.finra.org/filing-reporting/regulatory-filing-systems/short-interest https://www.finra.org/filing-reporting/regulatory-filing-sys...
- billylindeman 6y ago
  The fact that there were paid Facebook and Twitter advertisements for the news stories that "mevlin exited their short" makes me think they did not
  - afavour 6y ago
    Feel free to invest based on that evidence, but I won't be joining you. How often are news stories promoted in paid-for ads on social media? Do you know? If you don't then you're basing a decision on one piece of data with no context.
  - fractionalhare 6y ago
    Putting that reasoning aside: do you have a link you could share that shows any of these ads?
chrischen 6y ago
Short interest data is lagged. What is the source of this website?
vkou 6y ago
You have no idea if these shorts were opened at $5, $50, or $350.
Rebelgecko 6y ago
Someone who shorted when GME was at $420.69 is gonna be laughing all the way to the bank
gruez 6y ago
1. there's nothing special about 101% shorts compared 99% shorts 2. bloomberg's (unofficial) estimates says it's below 100% https://www.bloomberg.com/news/articles/2021-02-01/gamestop-short-interest-plummets-in-a-sign-traders-are-covering https://www.bloomberg.com/news/articles/2021-02-01/gamestop-... 3. even if it's at > 100% shorts, it tells you nothing about what price those shorts entered at. if they entered at $300 they're not breaking a sweat.
- dragontamer 6y ago
  4. Short interest only matters when a company gets bought out. At which point, the short interest is entirely rolled back to 0% and short-sellers take the ultimate loss. Beyond that, it could go to 100%, 200%, or whatever people feel like. There's nothing special about 100% short interest at all.
genericacct 6y ago
That data is not updated in real time. Unless you pay big bucks short interest data is released every two weeks. https://www.nyse.com/market-data/reference/nyse-group-short-interest https://www.nyse.com/market-data/reference/nyse-group-short-...
blackrock 6y ago
The question is: at what price point did those new shorts come in at? Those that shorted it at the high, are minting greens right now.
pb7 6y ago
If you click on "GME" on that page, it will take you to Yahoo Finance. And if you go to the "Statistics" page, you will see that the number is from January 15th. The >100% shorts number is wild disinformation at this point.
bagacrap 6y ago
it's exactly this kind of misunderstanding that caused this particular herd of new investors to lose out. I've noticed a lot of people making definitive statements of wsb, even though when pressed they admit they don't know squat. This is one of many reasons I like hn better in general --- people don't usually pretend to know what they're talking about.

by Tenoke 6y ago

Believe them or not, they can easily confirm whether GME still has > 100% shorts[0], which it does. 0. https://www.highshortinterest.com/ https://www.highshortinterest.com/

mpalczewski 6y ago

from that site "Database last updated on January 29, 2021" Typically these stats are updated slowly.

deleted 6y ago
[deleted]

dragontamer 6y ago

Yeah. So a bunch of shorts closed their position at maybe $50 when the price was skyrocketing, and then reopened their position at $300 or $400 (if they timed it with the peak). I'm not sure why people expect the short interest to change at all. If shorts thought it was worth shorting at $15, they sure as hell would be shorting at $300 or $400.

celticninja 6y ago
The cost of shorting the stock is a percentage of the cost of the stock on top of the stock price.
- deleted 6y ago
  [deleted]
- fractionalhare 6y ago
  Kind of. But it really depends on your relationship and agreement with your prime broker.
- jeffbee 6y ago
  And that price has declined by 80-90% in the last week along with the percentage cost to borrow. It's still expensive to borrow GME but if you have an idea that a stock is going from 500 to 0 in a week or two you don't care about the cost to borrow.
fractionalhare 6y ago
A lot of new shorts have also jumped in when the old ones left. The old shorts haven't necessarily bought back in, especially if they're running cautious after getting their faces ripped off.
nowherebeen 6y ago
That is unlikely the case. Closing the short would require them to write massive losses. Their best strategy has always been wait it out. They most likely purchased a bunch of options to lock in their losses from getting worst and are waiting for the price to drop back down.

dannyphantom 6y ago

I may be incorrect but I believe that data is somewhat outdated from the previous FINRA short interest report; it looks like the next report is due to be shared today, Tuesday Feb. 2 at 6-PM and the next on the 9th. So, we'll potentially see if that is indeed the case either tonight or on the 9th which I believe will have the most recent data as the one this evening will already be outdated. Linky: https://www.finra.org/filing-reporting/regulatory-filing-systems/short-interest https://www.finra.org/filing-reporting/regulatory-filing-sys...

billylindeman 6y ago
The fact that there were paid Facebook and Twitter advertisements for the news stories that "mevlin exited their short" makes me think they did not
- afavour 6y ago
  Feel free to invest based on that evidence, but I won't be joining you. How often are news stories promoted in paid-for ads on social media? Do you know? If you don't then you're basing a decision on one piece of data with no context.
- fractionalhare 6y ago
  Putting that reasoning aside: do you have a link you could share that shows any of these ads?

chrischen 6y ago

Short interest data is lagged. What is the source of this website?

vkou 6y ago

You have no idea if these shorts were opened at $5, $50, or $350.

Rebelgecko 6y ago

Someone who shorted when GME was at $420.69 is gonna be laughing all the way to the bank

gruez 6y ago

1. there's nothing special about 101% shorts compared 99% shorts 2. bloomberg's (unofficial) estimates says it's below 100% https://www.bloomberg.com/news/articles/2021-02-01/gamestop-short-interest-plummets-in-a-sign-traders-are-covering https://www.bloomberg.com/news/articles/2021-02-01/gamestop-... 3. even if it's at > 100% shorts, it tells you nothing about what price those shorts entered at. if they entered at $300 they're not breaking a sweat.

dragontamer 6y ago
4. Short interest only matters when a company gets bought out. At which point, the short interest is entirely rolled back to 0% and short-sellers take the ultimate loss. Beyond that, it could go to 100%, 200%, or whatever people feel like. There's nothing special about 100% short interest at all.

genericacct 6y ago

That data is not updated in real time. Unless you pay big bucks short interest data is released every two weeks. https://www.nyse.com/market-data/reference/nyse-group-short-interest https://www.nyse.com/market-data/reference/nyse-group-short-...

blackrock 6y ago

The question is: at what price point did those new shorts come in at? Those that shorted it at the high, are minting greens right now.

pb7 6y ago

If you click on "GME" on that page, it will take you to Yahoo Finance. And if you go to the "Statistics" page, you will see that the number is from January 15th. The >100% shorts number is wild disinformation at this point.

bagacrap 6y ago

it's exactly this kind of misunderstanding that caused this particular herd of new investors to lose out. I've noticed a lot of people making definitive statements of wsb, even though when pressed they admit they don't know squat. This is one of many reasons I like hn better in general --- people don't usually pretend to know what they're talking about.