I went on to the Reddit website yesterday and followed the CYDY MB. There had been a false, inflammatory analysis by Andrew Left, noted shorter, that help drop the CYDY share price from $10 to below $5. His article was taken down the same day. As I recall, this happened around April.
Not only were there posts on the MB to burn AL, but there were posts on Reddit, too. Coincidence or not, CYDY was up about .70 yesterday. As doc pointed out this strategy only works when a stock is heavily shorted. In case you didn't catch it, GME's 136% of GME's float was shorted. Talk about naked shorting!
I wanted to play, so I jumped on to NOK, just for fun. I made $600 on 12 option contracts. After I sold them I bought 500 shares at an average of $5.32. I sold half those shares at $6.90 and still have 250 with an average buy price of $3.75. NOK is currently selling at $5.77 in pre-market.
Not only were there posts on the MB to burn AL, but there were posts on Reddit, too. Coincidence or not, CYDY was up about .70 yesterday. As doc pointed out this strategy only works when a stock is heavily shorted. In case you didn't catch it, GME's 136% of GME's float was shorted. Talk about naked shorting!
I wanted to play, so I jumped on to NOK, just for fun. I made $600 on 12 option contracts. After I sold them I bought 500 shares at an average of $5.32. I sold half those shares at $6.90 and still have 250 with an average buy price of $3.75. NOK is currently selling at $5.77 in pre-market.
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