Sunday, January 31, 2021

S3 Partners' Ihor Dusaniwsky Says A Lot Of GameStop Shorts Were Covered Last Week

I was hoping the FT's Izabella Kaminska would have a comment or two on rehypothecation and how short interest can exceed float as she did with ETFs but it may be on to the next big thing* before she gets the chance.

From S3 Partners:

New S3 Partners Data Reveals $GME Short Bets Decline

The retail-hedge fund battle rages on. We’ll reveal more $GME insights tomorrow morning. Meanwhile, follow us on Twitter for updates.
By Ihor Dusaniwsky

Last week, the brick-and-mortar video game retailer GameStop hijacked the national conversation as a tidal wave of retail investors bandied together to buoy the company’s stock in a social-media-led move against short-sellers. The resulting dynamic also upended the share price of several other companies, led to a social-media revolt against the Robinhood trading app, united the unlikely political bedfellows Ted Cruz and Alexandria Ocasio-Cortez, and generally left investors scratching their heads about what was to come next.

S3 short insight data foresaw GameStop’s meteoric rise. Last Monday, in fact, company founder Robert Sloan presaged the stock movement on Bloomberg TV. Now, the firm’s singular analysis foreshadows where the stock is headed this week....


And here is Mr. D's personal Twitter feed

Stock index futures positive by a quarter-percent or so. Silver up 6.66%

*I'm reminded of the story last seen in the intro to "60 Elvis Impersonators Flee Fire Alarm":

Some years ago I was trying to track down something or other relating to Ted Binion's silver hoard and found myself standing on Fremont Street quoting Hunter S Thompson:
 "Still humping the American Dream, that vision of the Big Winner somehow emerging from the last minute pre—dawn chaos of a stale Vegas casino. Big strike in Silver City. Beat the dealer and go home rich. Why not? I stopped at the Money Wheel and dropped a dollar on Thomas Jefferson—a $2 bill, the straight Freak ticket, thinking as always that some idle instinct bet might carry the whole thing off. But no. Just another two bucks down the tube. You bastards! No. Calm down. Learn to enjoy losing....
when the longest limousine in a city of long limos pulls up and all these Elvis impersonators start piling out.

It was hilarious and I lost it and couldn't stop laughing at the sight of maybe two dozen Elvii, young Elvis, older Elvis, fat Elvis, leather pants Elvis etc.
About half of them went with the Jumpsuit Elvis look. Sooo...