Quote (Santara @ Jan 27 2021 09:25pm)
What happened? I work all day.
Cnbc falsely reported than Melvin had closed out of it's short positions in GME even though it is literally impossible based on the #s we saw + we still have access to the short data and it's barely budged an inch. It caused a crash from 360 to like 180 almost immediately. Then mfs just bought the dip. They themselves most likely bought the dip as well.
Then in after hours the price went down from almost $400 to $220 in a matter of minutes. With a very small amount of volume difference. As the wsb discord got banned and they locked down their sub for an hour.
Presumably hedges cashed out a bunch of stocks to create a cascade effect and scare off retail investors. But mfs just bought the dip again.