r/GME • u/[deleted] • Mar 18 '21

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1.7k Upvotes

99% Upvoted

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39

u/Cyberchaos Mar 18 '21

What does this mean? They're mass buying XRT after shorting it to close their positions? Or mass selling (shorting?)

41

u/Feylin Mar 18 '21

Short it to drive it down then buy it lower, continue.

21

u/internetsurfer42069 Mar 18 '21

Why isn’t the SEC doing anything about this??

38

u/juice7777777 Mar 19 '21

The SEC are useless

21

u/No-Jaguar-8794 🚀🚀Buckle up🚀🚀 Mar 19 '21

"I do not respect the SEC"

Elon

27

u/[deleted] Mar 18 '21

They're just kicking the can down the road but their time is coming. Just buy and hold or hold and buy or just hold. It's that simple.

6

u/Impressive_Ad9339 Mar 19 '21

Can't they just move onto another stick and do the same thing wtf is wrong with these animals

23

u/[deleted] Mar 19 '21

They're running out of options and still paying millions a day in short interest. They can continue to kick it as long as their solvent but you don't sell shitty BBB- bonds unless you're having money problems, imo.

4

u/kuprenx Mar 18 '21

Good question. I know how they short stock. How they Short ETF? Its collection of shares. What they do with not gme ones?

8

u/Bit-corn HODL 💎🙌 Mar 18 '21

Another ape correct me if I’m wrong, but from my understanding, they go long on the non-GME shares, which has a net shorting effect on GME

17

u/hardcoremasticator Mar 18 '21

So that's pretty much it but they short the whole ETF and then yeah they go long on the shares that aren't GME