It looks like there are a bunch of new shorts have replaced Melvin and Citron, at a much higher basis.
According to this guy, short interest is down 8 percent. That’s not much.
https://www.reuters.com/article/us-gamestop-stocks-shortinterest-idUKKBN29Y29P
A new set of greedy hedge funds has replace the last.
If we keep buying and push the price up, we can push them into big losses and margin calls as well !
The shorts will win this. They will team up with banks or whoever. Even I would short that stock at $400 per share. If nothing else buy some 3 month puts on it.
“ It looks like there are a bunch of new shorts have replaced Melvin and Citron, at a much higher basis.”
For a derivative trader the mindset is “I’m just one good trade from even”.