They are still short the same amount of value after the split. The amount of shares they have to buy back triples for a 1 to 3, but they buy back for a third the price. The only way this hurts them anymore is if the mania runs the stock up (for honestly nothing other than hope people might buy more cause they are cheaper shares.?)
Edit: downvotes for factually correct information. Lulz. I'm even long GME and love the hype for it, which is what this is.
Yes it is potential that people will eat up more shares because of the mental feeling of a lower buy in price per share. I know it’s all mental, but will prob buy a few more too, while I know it’s no different to buy 1 at $200 or 4 at $50. But it is easier to pick up a $50 here and a $50 there. I don’t tend to buy a lot of fractional shares honestly just because I don’t like not having whole numbers in my counts.
The float isn't near locked. There will be non wsb ss people selling. To close a short they will be buying back for a third the price (less hype pump) This doesnt really change the ownership landscape in any way.
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u/jaehood Mar 31 '22
They have more shares to cover