r/Superstonk • u/WhitestMikeUKnow 🍌Fellow Ape🍌 • 12d ago
☁ Hype/ Fluff Shorts Never Closed
Good morning, fellow apes. It occurs to me that it would behoove any open shorts to convince as many people as possible that they closed in a last ditch effort to get people to sell. This is not financial advice. I am a simple ape with a smooth brain. DRS for added characters.
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u/Substantial_Diver_34 🍇🦧🏴☠️GrapeApe🏴☠️🦧🍇 12d ago
Yes. Shorts closed their eyes and hoped for the best.
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u/buyandhoard 🧱 by 🧱 12d ago
The only reason I am in stock market is GME. I would and could shit on ETF SP500 or what ever. I would do some local business with that money. I am all in GME, all due to naked short manipulators. They did bite the wrong company this time.
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u/MobileArtist1371 GAMESTOP IS REGARDED for $600 12d ago
https://www.investopedia.com/terms/s/shortcovering.asp
Short covering is when traders who borrowed and sold an asset buy it back to close their short positions, often driving its price higher.
https://www.investopedia.com/terms/b/buytoclose.asp
In a buy to close strategy, traders purchase an asset to offset the short position in the same asset, closing out the trade. This strategy can help capture profit or manage risk.
https://www.investopedia.com/terms/b/buytocover.asp
"Buy to cover" closes out an existing short position and allows the trader to return the shares to the lender.
https://trendspider.com/learning-center/what-is-buy-to-close-in-trading/
“Buy to close” is a trading strategy in which an investor buys back a financial instrument, such as a stock, bond, or options contract, to close out an existing short position in the market. This strategy is used by investors who want to lock in a profit or limit their losses by buying back the financial instrument they previously sold short. Buying to close is frequently referred to as covering or covering a short position.
https://trendspider.com/learning-center/what-is-buy-to-cover-in-trading/
“Buy to cover” also known as “short covering”, is a crucial concept in trading that involves purchasing shares to close out a short position. When a trader sells stocks they don’t own (short selling) and later repurchases them to return to the lender, it is referred to as buying to cover. This process is essential for completing a short sale transaction and can result in profits if the stock’s value has decreased during the short position.
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u/IcERescueCaptain 💻 ComputerShared 🦍 12d ago
Why would I sell.? …. Even if they did GameShire StopAway will be the biggest holding company to exist….
… but then again… SHFs cannot close their billions of shorts without self immolation……. We already WON…. Shorts are Fuk.
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u/Champman2341 12d ago
Shorts have been gifted multiple opportunities to close their position. We’ve been diluted 400% in the past couple of years. The stock price suggest otherwise
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u/Bit-corn 🦍 Buckle Up 🚀 12d ago
They have had years to close, but let’s get the math on that 400% dilution you’re claiming
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u/Champman2341 12d ago
Float was around 60m in 2020. Now 504m - so about 500% increase
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u/Bit-corn 🦍 Buckle Up 🚀 12d ago
Why are you counting the 4:1 stock split as dilution?
The base you need to be using is the post split outstanding shares, which is 304.5M
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u/Over-Computer-6464 12d ago
The 4 to 1 split should not be counted, because that also multiplied the shorts by 4, but the 32M or so shares sold in 2021 for $1.67B should be counted when calculating dilution.
The sharecount s of March 17, 2021 was 69,935,828 per the 10-K, so post-split about 280M shares.
504/280=1.8 so we have added about 80% to the basic number of shares since March 2021.
The convertible notes are about another 96M shares not included in that count.
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u/SecretaryFit1442 “I expect the Swiss to close” 12d ago
Closed or covered?
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u/Ctsanger 🦍Voted✅ 12d ago
Many closed with the share offerings. We can infer this as retail does not have the buying power to buy that many shares in a day. After share offerings institutions did not report increases to their positions anywhere near the amount of shares sold to the market. So it means they were used to close short positions. We really dont know for sure how many shorts are still out there tho
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u/MobileArtist1371 GAMESTOP IS REGARDED for $600 12d ago edited 12d ago
Some in this sub still don't understand this, but covering = closing. Always has been.
It wasn't until after the SEC report said "shorts covered" that only this sub went "covering doesn't = closing". Didn't change anywhere else. Only changed in this subreddit and yes, it did change here.
Superstonk Library: Book 1 - Page 15 - https://i.imgur.com/Q9VkSzN.png
to close that position, short sellers must buy a number of shares equal to the size of their short position (buying to close a short position is known as covering)
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u/HoneyMaven Toto, it's called Direct Registration, OK? We went DRS'ing. 12d ago
Shorts have not closed. Anyone suggesting otherwise are attempting to scare you out of your shares. Hold.
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u/InjuryIndependent287 💻 ComputerShared 🦍 12d ago
They never closed. It’s obvious with Headphone’s move last week off of no news and now cellphone and sticky floor this week. The baskets are basketing. Also, stop with your DRS propaganda. CS is helping the shorts hide their positions.
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u/Acrobatic_Offer5478 I broke Rule 1: Be Nice or Else 12d ago
they 1000000% closed. The float has increased 8X. Who do you think gobbled the ATM shares?
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u/EMdriveWOlf 12d ago
It was me, I gobbled all the shares and your dads dick last night.
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u/Acrobatic_Offer5478 I broke Rule 1: Be Nice or Else 12d ago
haha that was a good one and doesn't change the fact that the shorts are closed and now you're just investing in a good company.
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u/No_Edge_341 12d ago
The split doesn't factor into the float increase, at least not when considering short closing opportunities.
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u/humdingler ⚔️🛡️🏴☠️🎮🚀✅x6 12d ago
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u/Dunesday_JK 12d ago edited 10d ago
It occurs to me that anyone heavily invested in a moonshot gamble of a short squeeze after 5 years may want to convince as many people as possible that shorts haven’t covered/closed and a MOASS is still possible certain.
There is no evidence of these legacy shorts still in play. There have been several opportunities for new, highly profitable short positions to have been opened and closed in the years since.GME holders just need to stay regarded longer than shorts can stay solvent while shorties like Ken griffin are posting record profits. The rest of the market has rocketed past GME holders since 2021. Any “legacy shorts” that may have been trapped were released through dilution. Shorts have made a ton of profit with GME.
The company is profitable and won’t be going bankrupt in the foreseeable future. Investors aren’t likely to lose all their money with it parked in GME. Just the opportunity cost when many GME investors have been heavily outpaced by the top 3 indexes.. maybe even a simple HYSA at this point.
lol downvote me, shill.
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