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What's the reason for all the shorting on Fubo? You would think that a streaming business would be attracting far more long interest right now.
I’m surprised this sort of attack has never be carried out before. Is it just because no one ever thought there’d be a crazy army of retail investors that could be so coordinated and so irrational and large enough to matter?
...it has though? This isn’t a new thing. Happened with VW in 2008, for example.
Bought a bit of SPCE out of principle
I actually saw that and wondered what are the chances that I wake up tomorrow with that stock high as hell as a redirection from gme buyers...
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I actually saw that and wondered what are the chances that I wake up tomorrow with that stock high as hell as a redirection from gme buyers...
The current candidates being floated by WSB are Nokia, AMC, Ericsson and Blackberry. Even though Virgin Galactic is second on this list, my impression of the WSB crowd is that they look for companies that are both high-short-interest and some nostalgic notion of being “worthy of saving”... Virgin would probably not fit their MO given the high-profile billionaire owner...
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Not enough to matter. At sufficient price there will be a seller. The company can create stock and sell it if the current holders don't.
Companies cannot issue more shares than they are authorized to issue. They have to do Formal Corporate Things to issue new shares.
Earlier quoted context omitted.
The current candidates being floated by WSB are Nokia, AMC, Ericsson and Blackberry. Even though Virgin Galactic is second on this list, my impression of the WSB crowd is that they look for companies that are both high-short-interest and some nostalgic notion of being “worthy of saving”... Virgin would probably not fit their MO given the high-profile billionaire owner...
Why does the WSB ethic permit the existence of Richard Branson? Shouldn't a UK public school billionaire descendant from violent colonial oppressors earn a spot up against the wall?
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Companies cannot issue more shares than they are authorized to issue. They have to do Formal Corporate Things to issue new shares.
Their boards authorize it. It takes a phone call to have a board meeting. A company could do a board meeting by tweeting each other if they wanted. Filing that a private placement (to the short holders) has occurred is followup paperwork. A company that gets immensely overvalued is doing their shareholders a disservice by not capturing that valuation.
That said GameStop is authorized for 300 million common shares and there are only 70 million outstanding according to this table so if their corporate treasury has been at all competent they might be sitting on a huge pile of cash right now.
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There's nothing particularly different between a company having 99.99% short interest and 100.01% short interest.
If the shares were printed on stock certificates how would you get to 100.01% short interest?
Imagine a company with 1 share of stock floating. Abel buys that share and loans it to Baker (via Abel's broker). Baker borrows the share and sells it to Charlie. Charlie loans their share to Diane. Diane sells it to Earl. Earl loans their share to Fred. Fred sells it to Gary...