You are so right. There are traders smelling blood in the water and let's face it... Citadel and others have not exactly endeared themselves to the trading community of longs. Nothing works in their favor right now. You have the overall short share situation, synthetic shorts and short share availability dropping. You have retail shorts piling in and shrinking the tradeable pool even more - plus now you have the dark pool revelations rocking the market.
Even worse for them is that this is all post-Gamestop-hype. Retail traders have been emboldened by their victory there and so the vise is getting tighter. Even fundamentals work in AMC's favor right now. As they open more and more cinemas and capacity expands, they will show a progressive increase in gross margin too. This will be coupled with over-the-top guidance from a CEO getting piles of bonus money.
Citadel's best opportunity to cover was weeks ago in my view. The tighter they hold it now, the more explosive the release. IMHO.
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