So basically what's happened is that people have shorted the stock, meaning they've borrowed money to buy this stock sometime in the past and will spend money in the future to return the stock. This is basically betting the stock goes down, If it goes down they make money. They have to pay interest on this. So many hedge funds have done this that the interest is quite high. Also a lot of these shorts have expiration dates.
My understanding is either the hedge funds will be forced to sell when the date is met, or they'll sell because the interest is becoming too much. Or
So basically what's happened is that people have shorted the stock, meaning they've borrowed money to buy this stock sometime in the past and will spend money in the future to return the stock. This is basically betting the stock goes down, If it goes down they make money. They have to pay interest on this. So many hedge funds have done this that the interest is quite high. Also a lot of these shorts have expiration dates.
My understanding is either the hedge funds will be forced to sell when the date is met, or they'll sell because the interest is becoming too much. Or