GME approves 4:1 stock split dividend.
(media.greatawakening.win)
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Incorrect. Look at what happened with Tesla post-split.
I did. Nothing really of note happened, is what I see. It was bullish both before and after the split/dividend (they used the same language as GME), but that was during a bull market.
No way to tell if this move made any difference. The price topped a few months later, and has been down ever since.
The price is LOWER today than on the day they made that announcement.
So, what does that prove?
Then you clearly didn't pay attention. Post-split Tesla shot back up to around the same price that it was pre split. That's significant.
Yeah, that happens all the time, especially a hot stock in a bull market.
But NOW ...
Tesla stock is LOWER than it was at the split.
Congratulations, you've completely missed the point entirely.
Isn't this just lowering the price per share so its easier for them to pay back the short? I'm following you that its a split paid as a dividend
Not exactly.
I don't expect it to have any affect on the shorts. Might help them cover if they need to, but I don't believe they need to.
I don't believe in the "massive naked shorts out there" story.
GME manipulated the stock price back when the short squeeze happened more than a year ago. They took advantage by issuing a secondary offering that gave them 10 times the capital infusion than they would have otherwise had (thus, the purpose of the move).
Today, the company still loses money. It is a bear market. Stocks that lose money tend to do VERY badly in a bear market. Hence the price drop the stock has seen from the highs, or even from the market top in January (had a spike for a week in March, then right back down).
I think the story is interesting (I have no position in GME, long or short). But I think what is even more interesting is that so many people believe a story and they really have no clue what they are talking about.
The Reddit touts (some of whom might be in this thread) are blowing smoke up everyone's ass, and I find it fascinating.
BTW, I participated in a thread back during the short squeeze. At that time, there WAS a naked short position, and I wrote about it here on GAW. So, I am familiar with that aspect of the story. But the rest is just Tulip Bulb Mania (look it up).