Originally Posted by
Walter Sobchak
Ironically the crazy increase in stock price makes it more attractive to short. Apparently the total short position has actually increased slightly.
You dont want to be shorting this right now IMO. You dont know how much higher it will climb before it inevitably drops. If anything maybe a small position on some longer term puts, but I wouldnt be shorting the actual stock, or you would be caught with your pants down when you are left having to cover.
Aldo, who knows if you would even be able to right now. Many brokerages took away traders ability to short today; i dont know how long that will go on.
This is a unique situation.
The short interest is around 140%, which is fucking ridiculous and should be fucking illegal to begin with. How is it even allowed that people can short more shares than are actually even available?! So ridiculous. I bet you the regulations will change on this sooner or later.
As i mentioned earlier, CNBC and other crooked outlets straight up lied this morning for Melvin saying they were out of their short position. This one area where the SEC should be investigating.
This is short interest updated as of today:
Notice that nothing changed much, so unless im really missing something, there's your proof that they lied
I could be wrong, but the way I see it, If that short interest is truly correct, you could see this price blast off into outer space before it comes falling back down.
Tread lightly