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Started By
Message
GameStop short sellers are still not surrendering despite nearly $20 billion in losses
Posted on 1/29/21 at 11:40 am
Posted on 1/29/21 at 11:40 am
quote:
Key Points
*Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer GameStop, according to data from S3 Partners.
*Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock.
*GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3.
*Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
quote:
Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3. Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
“I keep hearing that ‘most of the GME shorts have covered’ — totally untrue,” said Ihor Dusaniwsky, S3 managing director of predictive analytics. “In actuality the data shows that total net shares shorted hasn’t moved all that much.”
CNBC
This post was edited on 1/29/21 at 11:45 am
15
Posted on 1/29/21 at 11:42 am to Grateful Reb
quote:They are going to get hammered even worse. Probably seeing if their office windows will open.
Grateful Reb
Posted on 1/29/21 at 11:42 am to Grateful Reb
Posted on 1/29/21 at 11:42 am to Grateful Reb
quote:
or they are being replaced by new hedge funds willing to bet against the stock.
well no shite. now it's CLEARLY over-valued and i doubt their exposure is as much (especially with the collaboration to kill holders)
quote:
Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
yeah and i bet there was no manipulation involved here
Posted on 1/29/21 at 11:43 am to Grateful Reb
New ones always moving in when another one covers. I get the fundamental play, but on technicals with so many people buying and showing a resilience to hold I don’t get the technical play. More people are signing up every day to buy GME. This is like the Russian strategy of WWII. Hedge funds no they will lose a lot and hope the other side eventually gives up.
Posted on 1/29/21 at 11:44 am to Grateful Reb
Posted on 1/29/21 at 11:46 am to Grateful Reb
Not sure they can buy their way out, it depends I guess... GME could let them out by issuing shares.
Posted on 1/29/21 at 11:46 am to Hussss
From the article...
quote:
“I keep hearing that ‘most of the GME shorts have covered’ — totally untrue,” said Ihor Dusaniwsky, S3 managing director of predictive analytics. “In actuality the data shows that total net shares shorted hasn’t moved all that much.”
Posted on 1/29/21 at 11:48 am to GeauxFightingTigers1
What would be interesting is if say GME issued and offered 1,000 new shares at $10,000,000 a share to try and set the market. 
In theory the global market could be reset depending on which big banks are on the hook.
In theory the global market could be reset depending on which big banks are on the hook.
This post was edited on 1/29/21 at 11:49 am
Posted on 1/29/21 at 11:51 am to Grateful Reb
quote:
“I keep hearing that ‘most of the GME shorts have covered’ — totally untrue,” said Ihor Dusaniwsky, S3 managing director of predictive analytics. “In actuality the data shows that total net shares shorted hasn’t moved all that much.”
It's not the regular shorts that had a problem, it was those that had shorted via options that expired today that had the problem.
Posted on 1/29/21 at 11:52 am to Grateful Reb
Posted on 1/29/21 at 11:56 am to Grateful Reb
They are rolling over into FEB puts...
Posted on 1/29/21 at 11:59 am to SlowFlowPro
quote:
well no shite. now it's CLEARLY over-valued and i doubt their exposure is as much (especially with the collaboration to kill holders)
Yeah, a bit less exposure when you've shorted it at $330 instead of $6. I cannot imagine they will continue to squeeze this higher and higher and higher to infinity and beyond. The little guy leverage is gone now that most of the people who shorted it below 10 got forced to cover.
Posted on 1/29/21 at 12:08 pm to Chucktown_Badger
quote:
Yeah, a bit less exposure when you've shorted it at $330 instead of $6. I cannot imagine they will continue to squeeze this higher and higher and higher to infinity and beyond. The little guy leverage is gone now that most of the people who shorted it below 10 got forced to cover.
We'll see if people panic sell, but its pushing the whole theory of... unlimited losses to infinite as a real possibility.
The problem is... it doesn't look like the covering has even started. If they control the whole float in theory it comes down to:
1. someone gets scared
2. gme issues huge amounts of stock
If I were GME I would issue a low amount of stock and try and set a price very high.
Posted on 1/29/21 at 12:13 pm to Grateful Reb
Let them double down. To all the Robinhood traders
Posted on 1/29/21 at 12:14 pm to Grateful Reb
quote:
Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
is this when they were allowed to have 10 players on the floor while retail was only allowed 5?
these guys are impressive
Posted on 1/29/21 at 12:17 pm to Grateful Reb
Posted on 1/29/21 at 12:17 pm to Grateful Reb
quote:
*Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
I bet it did crooked fricks
Posted on 1/29/21 at 12:25 pm to DabosDynasty
quote:
GameStop stock crossed above the $500 mark in the pre-market today. This price level was looking like a big number yesterday. The next big number for GameStop's share price is $1,000. As for AMC, the next big number is at least $40, followed by $100 price level.
LINK
Posted on 1/29/21 at 12:25 pm to Grateful Reb
Some of those institutional longs are going to sell. They have huge profits and they have not had a good week on other shares they hold.
I bet you they are some of them negotiating with the hedge fund shorts to deliver shares as we speak.
I bet you they are some of them negotiating with the hedge fund shorts to deliver shares as we speak.
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