This is undoubtedly a sticky-worthy happening. Overview:
Louis Rossmann: Why MSM's slander of /r/wallstreetbets pisses me off regarding GME
This is undoubtedly a sticky-worthy happening. Overview:
Louis Rossmann: Why MSM's slander of /r/wallstreetbets pisses me off regarding GME
This will most likely happen:
Citadel and a few others have secured a pool of stock that they can dump to markets near close (you can increase free float through dark pools by going to primary shareholder and making deals there and nobody sees it). It's a tit-for-tat kind of deal.
RH will force liquidate GME options positions 2hrs before market close on RH retail accounts. But before that....
They start hammering the stock price down selling to each other and recycling the stock back to selling and driving the stock price down more
.... and eventually a pre-approved price limit is reached, either the stock trading is halted or the force selling loop ends.
But before that the hedges who took new short positions from $400 levels exercise their options, making a killing
Market closes. WSB huddlers are holding their worthless GME stock that they bought at 5-25x of fair value
Hedges laugh all the way to the bank.
Alternative scenario is that hedges smell the blood and want to squeeze Melvin and Citadel for all their worth by not letting the price go down, forcing Melvin/Citadel to liquidate their worthwhile long positions starting late this evening and in aftermarket, giving excellent deals to the sharks, who can pick up the stocks on a -20% discount.
I'm hoping for the latter, because at least some WSB autists would win in that case, but I see very low likelihood of that happening.
theyve been doing that on/off all day, for days.