Joy, I have the same amount of gemm markers in my etrade account as I have had for months.. I think they are still trying to cover the short they created on gemm’s initial run back in October.
IMO they were taking advantage of the large CMKX shareholder base who jumped in and bought GEMM shares only because they were associated with CMKX. They sold a very large volume of gemm shares in double digits and since then have been covering.
I never believed that the dividend was the reason for the run-up because the shares were restricted and there was not an immediate need to cover at that time. The MM’s were smart and used the excitement created by the gemm dividend to their advantage and no doubt reaped large rewards.
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