GME 226.42% short interest! (Surely after the squeeze)Hello, here I am updating you on the GME short story before anyone else (I got connections).
The FINRA updated the numbers. I don't know, maybe this is some kind of error? 226%! It's USO Oil all over again... They're tearing retail to pieces.
finra-markets.morningstar.com
A whole lot of novices got really excited AFTER Melvin got squeezed. Tried to warn them but they were too riled up.
They won a fight, felt empowered, then they overextended (overstayed their welcome) and got all mowed down.
"We're sticking it to the man", the man is up 80% on his short and probably locked in profit already.
AMC SI is down, from 78% to 38%, it did not get the "we're beating Wall Street" attention GME had so random novices did not get in throwing money at Wall St shorts.
finra-markets.morningstar.com
As always, the "little guy" is late to the party. I got called a "boomer" with a "boomer mentality" for not fomoing in, and laughed at for wanting to short sell...
This time short sellers have an extremely expensive entry, and I'm sure they have loads of cash behind them, retail won't push the price to $5000 and squeeze them.
I wonder why the price gapped after Melvin got liquidated. Short sellers noticing the crowd euphoria and baiting them? They took the bait so hard.
I wonder if regulators, and congress which is investigating Robinhood will be able to figure that one out?
It probably won't cross their minds that billions were made shorting the stock at the top when it suspiciously gapped up, and then buying was halted.
They have no clue so we might never find out. They're stuck on thinking "short sellers bad", "refuse to lose", "Robinhood stopped trading to stop the squeeze".
That's the dogma now. Maybe these many short sellers shorted "early", and they did want to stop the squeeze, and maybe not in which case good luck convincing the mindless herd of dogma addicts that the truth is something else.
Let's take a moment to remember Oil:
Robinhood bagholders did not even hold it (noobs rush to close at breakeven or tiny profit when it goes their way, and diamond hands hold when they lose), so what was the point of USO? It was just some "TA" ticker on a phone app to them? They could have bought a future with a 6, 12, 24 months expiry, that terrible ETF has heavily underperformed Oil, it was a good short (and long Oil future obviously - one with backwardation is that was available).
Back then you also had the novices that thought they were geniuses that spotted $1 Oil barrels and thought for some odd reason no one else wanted to buy those.
Boy did they learn their lesson when it went to -40!
Wall Street is Muhammad Ali, dancing around, teasing retail, and all these novices are his many angry opponents that rage at never being able to hit.
Nothing will ever change. Low skill, low knowledge, high excitation (emotional) players will keep losing, pros will keep winning, it's like the laws of gravity.
