$DWAC Trump’s Truth Social Spac is up 30% in premarket
(www.marketwatch.com)
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When you borrow tens of thousands of shares and dump them on the market prices don't moon. They drop. Which is exactly what a short seller is counting on happening. They can then replace the borrowed stock with stock purchased at a lower price for a profit.
When prices moon they shit themselves because they are going to have to replace that stock with more money than they sold it for.
We're not talking about individuals short selling here. We are talking about institutions they control dumping millions of shares. If you watch DWAC you can see it. The daily average is around 1.2 million shares traded. When they start trying to force the stock down I have seen it as high as 20 million shares or more.
This morning someone on the whitehat side with loads of money pushed buys and the market responded with a big bump in prices. In my opinion this too is being manipulated. The difference who is doing the manipulating.