(Total Views: 440)
Posted On: 06/08/2020 9:09:40 AM
Post# of 9148
70% short volume on Friday. MMs are in a bind... how low do they need to short sell the stock in order to shake enough shares loose to cover their position?
The decreasing volume with a high % of it being short tells me that investors think the SP is undervalued and are holding. Some may add to their position if MMs take SP down further.
In other words, I don't think MMs will be successful at inducing enough selling by investors to cover their short position. And if MMs aren't willing to cover on their own, then it'll be a waiting game until the next catalyst. This game is in our favor given what we know from the PR last week.
With many here on this board having held shares since before BB, I think a few more days or weeks of waiting for won't even make us break a sweat. And if MMs stupidly continue shorting, then they will be adding to their pain as they buy alongside investors upon good news.
The decreasing volume with a high % of it being short tells me that investors think the SP is undervalued and are holding. Some may add to their position if MMs take SP down further.
In other words, I don't think MMs will be successful at inducing enough selling by investors to cover their short position. And if MMs aren't willing to cover on their own, then it'll be a waiting game until the next catalyst. This game is in our favor given what we know from the PR last week.
With many here on this board having held shares since before BB, I think a few more days or weeks of waiting for won't even make us break a sweat. And if MMs stupidly continue shorting, then they will be adding to their pain as they buy alongside investors upon good news.
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