The real question is whether the price dip came from panic selling or insider trading. If there's no panic selling, then Citadel just dug themselves a deeper hole.
I have not seen any popular posts advocating for people to sell. Everyone seems to be digging their heels in.
The goal is to force Melvin Capital to buy GME at cartoonishly high rates. Their positions will never expire, but they begin to fall into legal trouble for complex financial reasons I don't understand on Friday. Once they are under pressure to begin buying back shares, and that's when things get wild.
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The real question is whether the price dip came from panic selling or insider trading. If there's no panic selling, then Citadel just dug themselves a deeper hole.
I have not seen any popular posts advocating for people to sell. Everyone seems to be digging their heels in.
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I'd expect panic selling discourse to get signal boosted by bots.
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That's true, there's an argument there. We'll need real quantitative data before knowing what happened today.
oh we're getting some, and it's pretty clear who's benefiting the most from this
That's 3.3m of the 140m shares Melvin needs to purchase. But it doesn't seem that Melvin purchased those shares to cover their shorts.
The result of this trade is that the supply of GME is circulation has risen from 24m to 27m.
Here for this take :party-sicko:
More info here [1] The total shorts has been reduced from 130% to 122% from all the bullshit today. That's still unheard of lol
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The goal is to force Melvin Capital to buy GME at cartoonishly high rates. Their positions will never expire, but they begin to fall into legal trouble for complex financial reasons I don't understand on Friday. Once they are under pressure to begin buying back shares, and that's when things get wild.