I thought about it but decided it wasn’t a good idea to use logic on a stock powered by vibes / fraud. “The market can stay irrational longer than you can stay solvent” and all.
I thought about that. Apparently the short interest was so high they were charging shorts crazy interest rates to borrow it. You’d have to bet on a huge drop in a very short amount of time. I can’t be bothered to look it up but I think it was something crazy like 40-50x a normal rate. One of the only reasons to hold was to charge short sellers interest, for a sane person anyway.
I should have shorted it.
I thought about it but decided it wasn’t a good idea to use logic on a stock powered by vibes / fraud. “The market can stay irrational longer than you can stay solvent” and all.
I thought about that. Apparently the short interest was so high they were charging shorts crazy interest rates to borrow it. You’d have to bet on a huge drop in a very short amount of time. I can’t be bothered to look it up but I think it was something crazy like 40-50x a normal rate. One of the only reasons to hold was to charge short sellers interest, for a sane person anyway.
I didn’t realize there was a correct response to my statement, but you just made it.
If I hadn’t been out of work for months, I’d have started an account just to short it. It’s rare to find such a sure bet.