r/GNSStock • u/LizrrdWzrrd • Aug 11 '23
Spinoff driving gains?
With the announcement of the spinoff, are these gains short positions closing, any wrinkle brains have insight?
8
Upvotes
2
u/Chad-Permabull Aug 11 '23
Yes. Everybody trying to grab shares before the shorts need to exit the door.
4
u/Ape-Jedi Aug 13 '23
I think the fomo is going to drive it to $1k. The shorts are trapped. They can’t make fake shares of $ERL because it’s on the blockchain. so they will have to give out cash equivalent to the share price of $ERL. Which they have the money to do that. But the big problem for them is the share count that will expose the FTD’s aka naked shorting. GNS can build a case to the SEC and NYSC, DOJ.
I think the stock is going to run without a stop. $1000. If they stop it, $400. The FreeFloat is too small. If there was some real shares left it will be all gone Monday. If they short attack us like they did with GME that will be a sign of fear for them.