In the US stock markets, the following is the top ten short as a percentage of float:
GME Gamestop (retail)
DDS Dillard’s (retail)
BIGC BigCommerce
BBBY Bed Bath & Beyond (retail)
LGND Ligand Pharma
FIZZ National Beverage
FUBO fuboTV
AMCX AMC Networks
MAC Macerich (malls, REIT)
ASO Academy Sports (retail)
They are ALL up, significantly. GME, in particular, has gone nuts.
It is pretty obvious that short books are getting slaughtered and are being forced to cover and/or reduce exposure.
The fear of missing out on these large price swings that occur on market tops is going to be extreme. Many people, especially inexperienced market participants, will go nuts. Most of them will not be able to time the exit, while a small minority (~20%?) will make out like gangbusters.
I have no edge in these situations and am not playing this (nor do I have stocks that are heavily shorted) but this is very fascinating to watch.
The casual investor community is all powerful…. #wallstreetbets
15b in SPACs for just one day… Fasten your belts, its going to be a bumpy ride.
https://www.ft.com/content/edfc90fc-13df-4b5c-92ef-677407ad936c
I own one of the heavily shorted stocks, SKT, Tanger Factory Outlet, ~49% short interest.
Crazy swings up and down 10%+ a day.
I hope to sell it when shorts will be sqeezed.
I don’t know what to think about the pricing of puts on GME; part of me wants to buy one at a $30 strike that’s 1-2 years out, but at the same time, what’s to stop gamestop from issuing shares and actually coming out ahead once all this dust settles. seems like a lot of risk.
The gamma spike and induced reaction in the common stock over the past couple days has been nuts. It is so difficult trying to keep my eyes away from GME.
Up to $350 at the open today. Just as an interesting note, IB was not accepting orders for this ticker, so this will likely be a spectator sport.