Looks like an interesting day ahead.
I’m drinking lots of water.
Edit: I ffnd myself in agreement with speculation that this might be a dangerous and expensive (desperate?) rug pull to buck more investors off their back. Likely will just demonstrate how disconnected they are and might run away from them.
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Its going to be spicy
If it weren’t for DFV’s comeback perfectly coinciding with the warm-up & run, I’d also be 100% of the opinion this is the prophesied “fake squeeze”. How the absolute fuck did he foresee this run? The movement, volume and speed of this burst is FAR beyond the capabilities retail, even considering DFV.
- Our buys don’t hit lit exchanges
- Options do force buys via hedging, but this has rocketed past 90% of all call positions.
- Gamestop corporate is authorized to buy back 100m worth of stock, and at these prices they’re not getting less bang for their buck at these prices.
- Larry Cheng bought just a few weeks ago and is on the GME board & “investment committee”, so why would he risk insider trading charges?
- Even if so, how would DFV have known Gamestop corporate were buying back stock?
First thought is this is UBS closing out CS’ toxic Archegos bags containing GME shorts, but they’d be foolish to do so with such speed - why not draw it out over time to temper the price & close it out cheaper? Maybe they chose to go first & fast before others with massive short positions have a chance to react & follow suit to survive? But if so, how did DFV have recon on this happening?
Second thought was Icahn - whether finally closing short positions and/or taking a new long position, IEP just dropped an 8K showing they borrowed 500m… presumably for a big move. Like UBS, though IEP would be foolish to do so this quickly - Carl’s MO is stealth, and this run is the opposite. Perhaps his health is in sudden decline and he wants to see the system burn before he departs?
Third, and I think the most likely option, is RC. He is (was?) the largest private shareholder of APPL stock which recently did a buy-back. Did they purchase directly from RC so as not to impact their stock price, leaving RC with billions in cash? What if RC then brought DFV into RC Ventures, or coordinated his move with DFV? I’m convinced RC’s GME journey began with DFV, making this a poetic move.
I think DFV is the new CIO of RCV. Whether the protagonists of this story are attempting a rug-pull or not, the event has finally begun.
Personally, I don’t think it’s a rug pull. Worth noting that virtually all of the price action and volume is happening before market open. And there were some weird price swings after hours today from 51 down to 26 and back again, repeatedly for a short period of time. Without any evidence to support or refute anything my assumption is that major players are trying to make deals with each other, and some are successful while others are not.
I’m just here for the preshow, the main event hasn’t even begun yet.