You're right. We don't know that for certain. The market is deliberately obtuse. It's also an inverted reality (AM = After Market, PM = Pre-Market; these are terms that are deliberately opposite our 12-hour clock time).
RC sold shares in an At-The-Market Shelf Offering. The additional liquidity, instead of tanking the price of GME, caused the price of GME to increase. According to laws of supply-and-demand, the additional shares should have decreased the price of GME.
The rules and regulations of the stock market (as enforced by the SEC) exist to 1) create liquidity and 2) protect institutions. When you understand that obfuscation is the mechanism for achieving goals #1 and #2, then you start to see why a variety of middlemen serve systemically critical functions; why the majority of institutional trading occurs either internally or within "Dark Pools"; why and how "settlement periods" exist; and how financial instruments like swaps are both opaque and have minimal reporting requirements.
You're right. We don't know that for certain. The market is deliberately obtuse. It's also an inverted reality (AM = After Market, PM = Pre-Market; these are terms that are deliberately opposite our 12-hour clock time).
RC sold shares in an At-The-Market Shelf Offering. The additional liquidity, instead of tanking the price of GME, caused the price of GME to increase. According to laws of supply-and-demand, the additional shares should have decreased the price of GME.
The rules and regulations of the stock market (as enforced by the SEC) exist to 1) create liquidity and 2) protect institutions. When you understand that obfuscation is the mechanism for achieving goals #1 and #2, then you start to see why a variety of middlemen serve systemically critical functions; why the majority of institutional trading occurs either internally or within "Dark Pools"; why and how "settlement periods" exist; and how financial instruments like swaps are both opaque and have minimal reporting requirements.