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This is just a huge game of chicken at this point, right?
i don’t understand. how can a float percent be higher than 100%?
What does this mean and is it good.
Naked short selling and depends on what you consider good…
This is basically what led to the 2008 collapse and it’s happening again. Basically, when you short properly, you go to a lender that has the shares for you to short. This basically makes sure that the shares that you’re shorting exist. In a naked short, there’s no lender. The shares don’t have to exist.
In GameStop’s case, there are 150% more short positions then there are shares. There literally isn’t enough stock for them to buy back. That’s why there’s a push to hold the stock, basically make it impossible for them to buy the stock and close out of their shorts. The only way they can make money right now is of gamestop just disintegrates or the stock plunges below $4