Thread by @CringleKitten

(Part 1) S3 Partners have reported 16.01M shorted shares sold short covered. $AMC

How is that even possible?

Relax. Take a deep breath.

Let's wait for Ortex if they are showing the same correlation of such similar change. Peer-review and reassess intel!

(Part 2) Let's not forget S3 Partners is speculatively owned by Citadel. Regardless of the documentation out there, there are no concrete proof to prove this connection - but it is healthy to challenge ourselves to give the benefit of the doubt - and being cautious.

(Part 3) Ortex and S3 Partners are distinctive proprietary analytical platforms and they receive information based on whatever institutions are authorized to give them.

We cannot blame them for doing their job of reporting regardless if it's false/true/delayed data.

(Part 4) Let's not forget the possibility of very few short sellers (minor institutions + retail) being forced to cover - avoiding further losses.

(Part 5) Be mindful of the possibility of spoofing the rate of negative SI % change through the option chain until they remove the loophole of synthetic calls until there is enforcement of applicable rulings.

(Part 6) A short squeeze is violent with crazy price swings up/down by the microsecond. It it usually done by short sellers if they are all simultaneously margin called - racing through to cover ASAP at the lowest price possible to cut down losses.

(Part 7) Remember we're still chasing after what's underneath the iceberg (naked shorts + synthetic shares + naked options).

We also have plenty of buying pressure - able to buy back that supply if shares are being covered at this stage. Look at Mudrick Capital Management, LP.

(Part 8) On that thought, this amount of "covering" didn't reflect into the price action.

Relax. Analyze. Reassess. Buy. Hold (not financial advice)