I just came back from reading the Ihub board on GME and AMC is also in play, but the stock is really dangerous right now, but it is still climbing. The short sellers had naked shorts equal to 20% over the float, meaning that to cover they need every single shareholder to sell every share they own. Until that happens the stock will continue to climb as short-seller demand must remain high. Short sellers who cannot cover will have their broker put in orders for shares to cover at market. Because they need 20% more shares than there are in the float, not everyone will sell all of their shares and a few souls will risk buying more. Meaning it's going to be a real problem covering shorts so a lot of them are going to go dead broke.
No comments:
Post a Comment