Quote:
Originally Posted by sterlingice
I didn't even notice. What the hell is going on
SI
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I'm not sure if anyone knows (and those who come closest and have $$$ in the mix are smart enough to avoid publicly saying anything that will either go down as market manipulation if they're right or be mercilessly mocked if they're wrong), but my favorite theory is that the big shorts (Melvin Capital as the canary - though they may have actually gotten out when they took the bailout $$$ - or places like Citadel never really left, and other giant firms that were long on GME (Fidelity, Morgan Stanley, Blackrock) are using the possibility of a short squeeze to bleed them a lot in the short term, and possibly even bankrupt them & take their market share
if they can trust each other & not be the first whale to start shorting this time
Amongst the FUD, general idiocy, occasional great meme, there are also the occasional great post in the Reddit world. This one was posted around 1pm & gave a prediction for how there would be a big fight to finish above or below $50 EoD because of what it would mean for Friday call options & how that would trigger a gamma squeeze, & then it actually happened. (Possibly even more than anticipated today...)
My Theory for todays market close. Get ready for a BATTLE. : GME
I could be (/probably am!) wrong about a lot, but no question it's major players driving this now, not Reddit/"retail". Also that GME is definitely overvalued on the fundamentals at it's current price point, but major players have still been holding (Fidelity has between 20-40 million shares, and the data they released showed they basically sold none of that by 1/31 despite GME's 1st run up happening 1/27-1/29 & an opportunity to lock in hundreds of billions in gains), and some have even been buying back in with massive positions at $45ish (Morgan Stanley picked up 4.2m shares in February, someone else I can't remember picked up 5m).