On 12/31 the short interest on GME was 71M shares (out of 69M outstanding ๐คทโโ๏ธ). In January a billion (!) shares of GME have been traded, Melvin and Citron closed their positions, and the short interest is... still 71M.
(Yes, this is a Fintwit account now)
(Yes, this is a Fintwit account now)
https://twitter.com/ihors3/status/1354477089471295492
Does it still count as a short squeeze if the original shorts got squeezed out but then millions of new short-sellers ran in to take their place on the battlefront? Has this ever happened?
This is not about two small funds caught in a trap anymore, it's an all-out war of attrition with $20B staked on either side. My guess is that most of it is institution $, WSB being a small part of the longs. When the line breaks, the big boys will dump faster that the Redditors.
But the fact that shorts are piling in undeterred even by crazy borrowing fees and the wrath of u/MilfLover420 means that this war could still go anywhere in the next days or weeks. $GME could be $2 on Friday or $2000. This is the D-Day of retarded stock speculation.
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