It only closed down because of what I said in previous post...
This is a huge stab in the back for all retail investors...
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Only if you enjoy the thought of impending bankruptcy. As at yesterday, there were 9000 total stocks available to borrow for a short, at 32%. Naked shorting unless you're a market maker is securities fraud. And all the float is in the hands of either ETFs that can't drop them yet because they need to wait for rebalance, or people who hold simply for the purpose of destroying you if you're shorting it.
Re: shorting it. I know how to manage risk, I.e not go bankrupt. when i typed that it was already $400ish in pre-market. I would be willing to bet that the stock halves before it tripples from here from $290 (I could be wrong but that would be the parameters for me closing out my short), and also that it would be lower than $290 in a year from now.
So what you are saying is despite this clearly going to fall off a cliff at some point there is no way to short it?
From my understanding the leverage involved when as short is falling is big. The likes of GME still have plenty of upside potential until the existing shorts in the stock have played out.
If looking at what is coming out on Reddit is anywhere near correct - then GME still looks over 110% shorted
There may still be a fair bit further mileage left in pile driving the Hedgies further into the ground for those
brave enough to consider Game not Over by any lengths.. ;)
The Hedgies still have to buy in further big time to cover their backsides on their short plays..
or wear the time cost on open shorts - it wont go away fast, without more pain incurred
As they say - the more in the Casino - the merrier the time to be had ;)
Great story and well done to the redditors who thought up the scheme.
Sad to see the mainstream media bagging them. I don't have anything against Melvin Capital but you take the risk you take the consequences of being wrong or someone out playing you at the stock market game.
Sad to see Citadel bailing out Melvin capital and possibly government agencies coming in to help (too big to fail?). It would be a shame to see a continuation of the "heads I win tails you lose" market in the USA.
This is courtesy of Paddles...
This is an absolute bomb shell unfolding....
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No allowed to buy GME or AMC here via Sharesies' US Partner - Drivewealth as of tonight !!
Different story for selling, which is fine by the same US provider for Sharesies ;)
Talk about market rigging being practiced & pushed outwards from some providers
Are Drivewealth affiliated with another alleged outfit of Hooded Robbers in the US
in practicing stealing buying opportunities from their customers when they feel like it, etc ? ;)