π₯ SHORTS MUST CLOSE DURING CONVERSION! - AMC Stock Short Squeeze Update
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Links;
https://twitter.com/stephmase22/status/1613904122100449280
https://twitter.com/VeckobeAMC/status/1660436497865097216
https://twitter.com/thatgirltrader/status/1692012524479160826
https://twitter.com/KatStryker111/status/1692068191969951949
Shorts MUST close during conversion
This has already been proven from previous literature, and a TD Ameritrade employee confirmed all non covered/non located shorts must close. However, to escape the squeeze the shorts will likely try and short the new AMC shares while closing their old shorts, matching every buy to a new sell order.
However, this also poses problems as they will have to actually buy enough shares to close their old shorts, which they likely won't be able to do as retail investors hold 80% of the float and aren't selling.
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