I think you need to seriously consider the possibility that the people spreading this narrative are doing so dishonestly in order to pump the stock. Short interest is now far below 100% (https://www.bloomberg.com/news/articles/2021-02-01/gamestop-...), yet /r/wallstreetbets is still full of hold memes rather than victory speeches.
Also the possibility that people spreading the narrative that people are dishonestly spreading narratives to pump the stock.
My summary above is rough, and it's based on most of the information I've read about the situation. As always, there are voices on both sides for every single fact.
Time will tell how this all falls out, but right now there are a lot of finance firms grinding their teeth, which is a victory in itself.
Also, apparently Gamestop itself used the gain in stock price to settle some debts by being able to issue more stock to meet demand at the higher price, thus getting a cash infusion.
>Also, apparently Gamestop itself used the gain in stock price to settle some debts by being able to issue more stock to meet demand at the higher price, thus getting a cash infusion.
False -- if you're going to spread information about financial nuances across this thread, you should look it up first. Go read the SEC filings for GME (SEC EDGAR is your friend), there has been no additional issuance since GME took off. Nor would it be realistically possible given the volatility.
The exact number definitely isn't known, given that the Bloomberg article includes two estimates of 39% and 50%. I'm not familiar with how these numbers are generated; is it plausible that the real number could be close to 100% even with such low estimates?
My summary above is rough, and it's based on most of the information I've read about the situation. As always, there are voices on both sides for every single fact.
Time will tell how this all falls out, but right now there are a lot of finance firms grinding their teeth, which is a victory in itself.
Also, apparently Gamestop itself used the gain in stock price to settle some debts by being able to issue more stock to meet demand at the higher price, thus getting a cash infusion.