Quote:
Originally Posted by Fat Charlie
Tidbits that don't add up:
Shares Outstanding - 69.75m
Float - 46.89m
% Held by Insiders - 27.33%
% Held by Institutions - 122.04%
Shares Short (Jan 15, 2021) - 61.78m
So I buy a borrowed share. If I buy a share (a $6 share for $350? Yeah, right!), I own a share. The fact that shenanigans were involved in putting it up for sale isn't my doing, and, in fact, is a big part of the problem. A bunch of little guys buying and holding doesn't risk the whole system, fat cats making tons of money by making things up and driving companies out of business is what risks the whole system.
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The little guys aren't buying and holding. They are doing the exact same thing as the shorts - buying options with the intent of manipulating the stock price for short term gain.
How many of those little guys do you thing will be holding GameStop long enough to pay the long-term capital gains rate?
There are already signs that the Reddit group has picked new targets and moved on from GameStop. WallStreetBets is targeting silver today and pouring money into silver stocks.