Okay I know you all have ADHD, have the attention span of squirrels, and were raised on Porn and video games, but try to pay attention. According to S3 Partners, as of yesterday the total short interest of float was 139.73%.
This is calculated by figuring out 71.8M shares are borrowed and sold short on a tradeable FLOAT of ~50M shares, out of a total of 69.7M shares outstanding. Many shares are locked up with GameStop officers, or in passive ETFs and will not actively trade hands, hence the ~50M of the 69.7M shares issued.
HOWEVER, some folks calculate the tradeable float is closer to 25-30M shares, which would mean the short interest as a percentage of the shares available to trade is closer to 200-300%.
The SQUEEZE that could happen has not even started:
Wallstreetbets went from 2.4M users at the beginning of this week to 5.3M users TODAY. The breadth, scale, and speed of this is unreal. People still talk about how crazy the 99 tech bubble was, but that was when less than <1% of people traded options and probably less than <5% of total retail traders by volume existed, AND social media penetration was minuscule comparatively.
Given that this is now a populist issue with bipartisan support and massive celeb support — I really think GME fucking explodes and does go over 1000. The fallout could the a few brokers dealers or a clearing house, and definitely several hedge funds. It won’t get too out of hand tho bc the fed will just backstop anyone huge. Ironically it would almost be direct Fed QE to the masses, which is something they’ve never been able to do.
TO THE MOON MY FELLOW RETARDS