GME approves 4:1 stock split dividend.
(media.greatawakening.win)
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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).