When I saw the Kevin Malone tweet earlier, I immediately did some quick math. The article he sited said gme shorts lost 1.5 billion in 5 days. GME is up $5. 1.5 billion divided by 5 is 300 million, not the 56 million or whatever they are claiming short interest is. This is an accidental addition that short interest is at least 100%

  • jergy@lemmy.whynotdrs.org
    link
    fedilink
    English
    arrow-up
    6
    arrow-down
    1
    ·
    11 months ago

    I’m not sure I understand the original claim, that shorts lost 1.5 billion. How is the number calculated, and is it accurate?

    One comment on reddit said: “I’m going to guess you take the confirmed short share % and multiply by the price change.”

    one question i’ve not looked into too deeply is how % shares short is even calculated. i’ve heard many suggestions that the short interest is a false or manipulated number but i’ve never confirmed this for myself.

    • db2@sopuli.xyz
      link
      fedilink
      English
      arrow-up
      7
      arrow-down
      3
      ·
      11 months ago

      They can only report up to a certain number regardless of how many more there are. If they don’t have to admit the rampant crime they can keep doing it longer.