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re: GME is going wild because Roaring Kitty posted a photo on X after 3 years of silence
Posted on 5/13/24 at 9:33 am to stout
Posted on 5/13/24 at 9:33 am to stout
People complaining about the halt are hilarious.
I understand shady stuff happens, and definitely did happen last time, but halting a stock like GME that runs 100% for essentially no reason in a matter of 30 minutes is absolutely necessary.
There aren't enough orders and volume way up there above it's regular trading range to create an equal market in that short of a time frame. It has to get halted, that's not a "oh crap we have to protect our short positions" move, it's a "the marketplace is just not designed to handle this" kind of move.
I don't have a dog in this fight and I'd probably be bitching about the halt if I was heavy GME as well, but realistically what are they even expecting? They think it's going to run to $100 if it didn't get halted and just stay there for weeks cause that is a fair market value? No. It's gonna crash back down immediately, regardless of the halt. Good luck executing a sale at the peak in that chaos.
I understand shady stuff happens, and definitely did happen last time, but halting a stock like GME that runs 100% for essentially no reason in a matter of 30 minutes is absolutely necessary.
There aren't enough orders and volume way up there above it's regular trading range to create an equal market in that short of a time frame. It has to get halted, that's not a "oh crap we have to protect our short positions" move, it's a "the marketplace is just not designed to handle this" kind of move.
I don't have a dog in this fight and I'd probably be bitching about the halt if I was heavy GME as well, but realistically what are they even expecting? They think it's going to run to $100 if it didn't get halted and just stay there for weeks cause that is a fair market value? No. It's gonna crash back down immediately, regardless of the halt. Good luck executing a sale at the peak in that chaos.
Posted on 5/13/24 at 10:00 am to Fe_Mike
Musical chairs. Don’t miss out on a seat.
I do enjoy these short squeezes but don’t personally participate.
Vegas style gaming.
I do enjoy these short squeezes but don’t personally participate.
Vegas style gaming.
Posted on 5/13/24 at 8:17 pm to Fe_Mike
It is called a short squeeze because it is heavily shorted and shorts have to close or cover. They should close, but with $GME, they have been kicking the can down the road with FTD (Fails To Deliver) and other tactics because to close will likely bankrupt many hedgefunds, market makers, banks (EBS), and individuals. It is costly, but they are gambling they can break the long term holders.
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