iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,158 Blog Posts

LEGENDARY SHORT SQUEEZE: $HKD GAINS SURPASS 10,000% IN PAST TWO WEEKS

Depending on where you got it, shares of HKD are up anywhere from 10,000 to 25,000%. Imagine being short?

There isn’t any news to support such a run. It’s a Chinese company and I am certain a fucking scam. But this sort of run is infectious and causing other low float stocks based out of China run too.

Here are some Chinese burrito runners courtesy of Stocklabs.

I have seen squeezes like this before — but none as ferocious as this one and since I am a finance bloggooooor — I figured I’d document the son of a bitch here and now. Fast forward 1 yr, the gains would have dissipated and the wealth destroyed. However, shorts cannot afford to hold and their NEGATIVE EQUITY situation is ruinous and I am sorry for you if you got caught short this stock. Let this be a lesson to you to avoid shorting low flow scams.

If you want to sell short, buy puts or an inverse ETF and fuck off.

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