Issuing new shares requires approval of existing shareholders. But, any other holders of the stock can sell to allow them to cover. Average volume is 24M shares so i would imagine that getting out of the short isn't that impossible.
The current number of shares on loan is 44M, and the price increase since yesterday is $100. So we're talking about a paper loss right now of $4.4B.
That might sound like a lot but i'm not sure how significant it really is.
A hedgefund had a bunch of shorts on game stop.
Reddit wallstreetbets got together and all decided to buy the stock.
There are 50m stocks still shorted.
If everyone on wallstreetbets holds then they can never buy a stock to sell it to cover their short.
GME hits 5k just as a LOL to fuck over a hedge fund.
If GME begins to issue additional shares for sale, wouldn't this little game end rather quickly?
It would be the appropriate corporate action, non?
Issuing new shares requires approval of existing shareholders. But, any other holders of the stock can sell to allow them to cover. Average volume is 24M shares so i would imagine that getting out of the short isn't that impossible.
The current number of shares on loan is 44M, and the price increase since yesterday is $100. So we're talking about a paper loss right now of $4.4B.
That might sound like a lot but i'm not sure how significant it really is.