Gamestop- What happens next?
Observations on Gamestop bet today.
After-hours GME price is now at $180, started the day at $325.
According to this article from February 1, 27.13 million shares are still in short position, which corresponds to a short interest of 8.82 billion.
According to this page, the short position on January 15 was 61.87 million shares, representing a short interest of 11.96 billion, at a price of $193 at that time.
So half of the short position has already been cleared, the price jumps upwards in the chart at the start of trading on January 27-29 are clearly visible.
On January 27, the price before the start of trading was about $150.
How can it be that the price from January 27 to today has risen by only 30$, when over 30 million shares were bought to offset short positions and a huge hype is going on on Reddit?
Did big investors sell their long positions, did small investors who got in before January 27 take their profits?
What do you think?
I am not a trader and this is not financial advice.
Posted Using LeoFinance Beta
I've been researching the GameStop merger chain.
GameStop was a company created by Wall Street to roll up the gaming market. It is a company built on the idea that one must dominate or perish.
While the short squeeze was fun. I personally wouldn't waste much effort on the play.
The short squeeze knocked down the first wave of short sellers. The second wave of hedge funds that short the company is likely to make out well. Wall Street will always be better at manipulating stocks than the retail trader.
Posted Using LeoFinance Beta