I love seeing that. I think we may start to see real price discovery on the naked shorted stocks soon. The DOJ investigation hopefully is helping.
The price discovery bit can get super interesting. This could be very long drawn out or another Jan-Feb squeeze that we saw last year.
Using GME as an example. It’s not crazy to believe that 250 million shares are owned. 70 million of which are real, the rest counterfeited.
Current share price is about $125 per share.
125 X 250 million = 31.2 billion
31.2 billion divided by 70 million = $445
$445 may be the real share price. But to trim 250 million shares down to 70 million shares in an APE stock is going to be very very difficult. $445 is likely a pipe dream for hedges.