Well, since the shorts have not yet covered, they
Post# of 154897
(Total Views: 668)
Posted On: 08/03/2022 6:01:05 PM
Well, since the shorts have not yet covered, they still have 52,000,000 out there which require covering, they too think it will come down.
When the volume settles down, (if it ever does), then you can begin to think the price will come down again. But it does not appear there is an end to this buying. It seems like there is a target quantity to acquire or a target price to reach and that price will be sustained by the buyers.
They are doing it at a determined pace as it seems by a certain date, or by a certain announcement.
Maybe they are doing it to create a short squeeze given the current situation where lending rate is 130% and no available shares to short.
Maybe they will be successful in driving them to their breaking point where they are forced to cover 52,000,000 shares and drive the price into the $3 or $4 range.
And then what, are you thinking they will exit just as swiftly as they entered?
Or will they hold the price there by buying even at those higher levels?
I think the latter.
When the volume settles down, (if it ever does), then you can begin to think the price will come down again. But it does not appear there is an end to this buying. It seems like there is a target quantity to acquire or a target price to reach and that price will be sustained by the buyers.
They are doing it at a determined pace as it seems by a certain date, or by a certain announcement.
Maybe they are doing it to create a short squeeze given the current situation where lending rate is 130% and no available shares to short.
Maybe they will be successful in driving them to their breaking point where they are forced to cover 52,000,000 shares and drive the price into the $3 or $4 range.
And then what, are you thinking they will exit just as swiftly as they entered?
Or will they hold the price there by buying even at those higher levels?
I think the latter.
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