Pommer
CoPacEtiC SkEpTic
- Sep 13, 2008
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This is the after effects of the hedge funds’ short positions.I hadn't looked for an hour or so. GME is making a really interesting chart today. Up around $350, down around $200 and now back up some to about $250. We'll see where it all settles out. Regardless, the overall trajectory of Gamestop stock over the past few months has been steadily up.
Against the odds, I might add. (just to bring the matter back to Lindell's chances)
There were many more (millions of) shares shorted than were/are in circulation. People and institutions that held short positions needed to buy back the stock at ridiculously inflated prices (or declare bankruptcy, generally a “frowned-upon” thing for stock traders), to cover their positions.
As the short-squeeze eases, savvy investors will look to short it AGAIN because the company cannot maintain it’s worth, as the stock price only went up due to the original short positions.
In two years it’ll be @$8.00\sh
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