Tuesday, July 11, 2023 9:29:19 AM
Someone was asking about why the shorts are in such a big hurry to try and convince some longs to try and day trade, so they can hit it, as info currently there are a bunch of small time shorts it is because they want to buy your shares to return, the writing is on the wall and 20 Million shares is a lot when they all run for cover. Why do I say that, back when the price was $4.30 there were 400 Loans, now there are over 800 loans and the price is $7.00. There were 19 Million shares short then, now there are about 22 Million Folks that is 3 Million shares short down there and if they cover at $7.00 um,,, 3 Million shares suffering a haircut of $2.70 each or an 8.1 Million dollar loss lets say that or
$8,100,000 / 400 loans = $20,250 each so that is small haircut but for them it is lot to loose in few months.
Believe me the shorts are worried, um, I think today we will see them debate to dig deeper or cover, dig deep or cover, yawn as for me just waiting on the next deal.
Oh but guess what, there simply is no way they can cover just those 3 Million shares at $7.00 remember that each 1,000 covered bumps the price a penny. They are not blind they know what happens when they try. Somehow they need to act like they are friends and confident as they all try to head through the door at the same time. Fun to watch.
That is 3 thousand pennies or $30 bucks lets say I'm off by a factor of 10, Oops they are covering the last million or so at $7 + $3+ $7 = $17.00
That is an extra $10 haircut per share. Now that is in fact going to hurt.
Xster that is what I'm talking about, gotta run
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