Over 41 million open short positions at 18 June 2024. Over 2 million new extra at .05. Now, where is the economics heading? Those 2 million @.05 have to be bought back to return them to the broker/owner. Max return if goes to, say, .01 would cost $20,000 and a $80,000 "profit" less charges. Ignoring the profit for the shorter, those shares that will be returned would be "worth" $20,000. Good luck to the shorter, but, what does the lender get out of these levels? Probably won't have any buyers at that price and be stuck with a lump of shite. Begs the question, why lend at these levels? Or, are the lenders the same as the borrowers??
LKE Price at posting:
4.6¢ Sentiment: None Disclosure: Held
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