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Another DBMM fable falls apart:

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Stock_Barber Member Level  Tuesday, 10/19/21 12:30:31 PM
Re: Jimmy Joe post# 238086
Post # of 241371 
Another DBMM fable falls apart:
Quote:
US equity markets functioned well during January's GameStop chaos, according to a long-awaited Securities and Exchange Commission (SEC) report, proclaiming authoritatively that short-selling was not the main cause of the exponential rise in the 'meme stock'.

Yep - that's right folks, no short-squeeze at all...

The SEC found in its 44-page omnibus report that, however, that "it was the positive sentiment, not the buying-to-cover, that sustained the weeks-long price appreciation of GameStop stock."

GameStop purchases by those covering shorts were “a small fraction of overall buy volume” and the company’s share price remained high even after the direct effects of such trades should have waned, according to the regulator.



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