What you are seeing now is a historical short squeeze, the likes we have never seen before. It’s not just GME shooting higher, now up another 68% to 24x book. But we are seeing all stocks with large percent of shares in the float short skyrocket.
The notable ones are GME (+68%) OSTK (+32%), VIR (+43%), BLNK (+35%), WKHS (+31%), BBBY (+22%), NKLA (+20%), BYND (+21%) and it goes on and on and on. I have 45 stocks up more than 7% on heavy volume, all heavily short.
I suspect this trend will continue — as plebs rise up from the deepest crevices of Reddit and other venues to slay their masters. The slavers are running for cover and do not know what to do.
This headline yesterday exacerbated the already frenzied move:
Citadel, Point72 to Invest $2.75 Billion Into Melvin Capital Management
That’s right. Hedge funds are already bailing themselves out due to the rise in GME. So the idea here is — run up these stocks as far as they can go in order to inflict maximum damage to the fuckers who have fucked everyone else for as long as we could remember.
I am long all short squeeze plays, +4.7% for the session.If you enjoy the content at iBankCoin, please follow us on Twitter