Posted on 01/28/2021 3:32:10 PM PST by Hojczyk
Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.
The hefty losses come as shares of highly-shorted GameStop jumped more than 1,000% in the past week without a clear business reason, forcing short-sellers to buy back into the stock to cover potential losses -- defined as a short-squeeze -- while retail investors then piled in to benefit from the surge.
Chasing shorted companies became a trend among retail traders, rippling across U.S. markets and Europe. Ortex data showed that as of Wednesday, there were loss-making short positions on more than 5,000 U.S. firms.
Its data also showed that estimated losses from shorting GameStop at $1.03 billion year-to-date, while those shorting Bed, Bath & Beyond were looking at a $600 million loss.
Ortex said the figures are based on the change in trading prices between the start of January to Wednesday’s close, and the number of short positions. The company sources short interest data from submissions by agent lenders, prime brokers, and broker-dealers.
(Excerpt) Read more at reuters.com ...
Nearly 71 billion in loses and over 5000 firms involved ain’t chump change even for Wall Street Billionaires...
The parties in the Hamptons this weekend might be called off if this situation keeps up..
Chasing shorted companies became a trend among retail traders, rippling across U.S. markets and Europe.
And India.
And Australia.
Its a world wide revolt against massive market manipulation by the biggest money bags in the world. The NY stock exchange is worth 23 Trillion and is owned by the husband of a former senator who was appointed by a governor who stole the last election. The swamp is everywhere and they all know each other. And party together. probably really together.
I feel sorry for these Hedge Fund guys, so I am opening an Etrade Account as we speak and funding it tomorrow, just so I can help and be part of the next strike, which might be AG( Majestic Silver)
It’s not a loss until it’s settled...
Apparently the initial, yuge GameStop shorters did settle and were bailed out by some of their compatriots/peers.
Now to claw back the nearly $1,000,000 that that BiXiden, Yellin’ woman got from the same cabal of bullies.
Gamestop literally sold $250+ current positions for $110 without the owner’s permission for their own good.
“The hefty losses come as shares of highly-shorted GameStop jumped more than 1,000% in the past week without a clear business reason, “
You want a reason? Some people got rich. Others loved Gamestop and wanted to annihilate the crooked short seller out to run them out of business.
Others are angry that our stockmarket is rigged and enjoyed crushing them.
There are plenty of business reasons.
Robinhood not Gamestop
If I knew what I was doing, I’d join you just to punch back at the elites.
It was Robin Hood, the brokerage firm, that took people's stock and sold it at discount ot their hedge fund friends
Idle question, I have no idea and haven’t heard even a rumour of this, but could this be a maga strike? I am sure that PDJT nderstands hedge funds. Could his operatives have been behind this?
Is this a strategy to bankrupt the left, delegimize the Bidet administration, or to just generally toss sand in the democratic machine?
This just seems to have occurred at too convenient a time.
So what’s Biden going to do?
Bail them out?
A giant sucking sound from the oligarchs to the people.
Screw them.
That thought crossed my mind. I’m sure there are a few people in Trump’s orbit that know where the vulnerabilities are.
I hope it is true.
silver is ne of the most manipulated things on the planet. You say silver, I say JP Morgan.
Today the hedge funds got bailed out by their compatriots. They only allowed selling, not buying. Gamestop and other stocks cratered, allowing the the hedge funds to closed out their shorts at a much lower price.
The investor class stuck together and only wants the market to be rigged in their favor.
Hunt Brothers wannabes.
The shorts will be right back after Game Stop now that the price is rich. This will be a rinse and repeat for the short sellers. Retail won’t stay in the game long enough to win.
Maybe I’m an a55 but I love it when shortsellers lose money.
How does one find out what company stock is being SHORTED and WHO is doing the ‘shorting’?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.