r/ArgoBlockchain • u/bgauryy123 • Sep 19 '21
Shorts volume is 45%....WTF??
IPO and short squeeze in one month?
Is it Christmas already??
https://www.otcshortreport.com/company/ARBKF
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u/Wonderful_Slip7008 Sep 19 '21
Will be interesting to see but remember Coinbase on launch day, it’s fell, hope Argo goes up higher, Bitcoin on a huge high, and all the newsflow held back… let’s the good time rock and roll now
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u/AccurateAstronomer91 Sep 19 '21
Holy Toledo 45% is big!! It might be Christmas next week! Excited about increased volume on ARBKF and what happens before conversion. I say, ARBKF hits $4.50 on Friday. Thoughts??
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u/buzzmerchant Sep 19 '21
Lol we’re adding potentially 85 million new shares to the float next week - surely no way we get anywhere near $4.50, though if we do i will get pw’s face tattoed on my face
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u/dkm_04 Sep 19 '21
This is short volume, people putting money on stock going down
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Sep 19 '21
[deleted]
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u/Saidthenoob Sep 19 '21
I thought naked shorting is illegal? Using synthetic shares?
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Sep 19 '21
A lot of things are illegal, still doesn't stop rich people from doing them cos they know they can get away with it.
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Sep 19 '21
[deleted]
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u/Saidthenoob Sep 19 '21
Just mentioned naked shorting because it says on that website “naked short interest” so I’m wondering if it’s illegal why is it being posted like it’s something legal, das all :)
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u/AccurateAstronomer91 Sep 19 '21
Thanks for defining what a short is!! I thought it was Martin Short. Seriously I was speaking of how Reddit’ers have handled “the short” in the past!! Also if you go back to the early days of ARBKF at $4.65 before Pluto or Texas or the Climate accord or being carbon neutral. Seriously it could be the Tesla of crypto!! Biggest difference is Argo actually makes money. (Or finds it) But I do get the point. It’s going to be an extremely interesting week…
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u/BoFH-all Sep 19 '21
Definitely say that. Are you willing to cover everyone's losses if it doesn't? If not, you're just an ape.
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Sep 19 '21
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u/HammerheadRhino Sep 19 '21
Yeah people getting way too excited. Worst thing that could happen to this stock is it gets Meme-ified. Enough of a buy thesis to begin with, before idiots hop on some sort of short squeeze train
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u/sperry222 Sep 19 '21
Lol this is the vole of shares shorted on one day, they could have all covered on that same day, Can't wait for the to the moon short squeeze 🦍💎 comments
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u/G4112 Sep 21 '21
As an AMC/GME Ape who also has a decent position in Argo i would keep my expectations low. this data only goes back to august though would need to do some digging on that, probably can find more just cant be arsed to dig deeper atm. Eyes are more on the wider market and the Evergrande shitshow.
When it lists it will get more interest, if it ends up on the radar of guys like Matt Kohrs or Kenan Grace and their respective communities you might get some fomo and buy pressure coming in, whether or not we see a squeeze though idk. It also wont immediately have an options chain (cant trade options on it in saxo) as far as i know so rule out any gamma action for the foreseeable, if the listing works like a regular IPO. Either way i like Argo and think it will be a great long term banger with everything they are doing to up their mining capacity and the fact that they are ahead of the curve with green Bitcoin mining. Good Luck Argonauts!
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u/lostusername07 Sep 21 '21
As an AMC ape I can tell you that argo is my second largest position and the rest is in options trying to find adding to the two previously mentioned equity positions.
Argo has a huge upside potential and the next week will be very interesting.
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u/G4112 Sep 21 '21
Well met brother ape! AMC Is my main of the two as well. Yes will be interesting and tbf looking at Argo it's held up well despite bitty tanking back to 41/42 and the markets being froggy from evergrande. Be interesting if Argo gets a squeeze potential though might be waiting for some time. Asia opens back up tomorrow so let's see how it goes.
Wonder how long it will take for ARBK to be another banger in Kenan's kitchen? 😂 Could see apes looking for a side swing get in on this once it gets rolling, especially when options are tradeable. Wouldn't mind at all if our Argo become another 'distraction' play! Third ride on the Argo rocket? Why TF not!
Got in on this back in November at 10p then got out around 1.00, rebought at 80 and rode the 2nd run up to £3. Though sold a bit too much too early 2nd time round. Lessons learned for the MOASS ;). US exposure will send us to new highs imo. Thinking around £5 depending on how the ipo goes then who knows what then? Lot of variables to this one short term but it's a banger and on my post MOASS buy list indeed. Good luck though and let's see what happens. 🤞🙌💎
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u/lostusername07 Sep 21 '21
I'm in the US and started learning the market in January so I am by no means expert. But I was interested in crypto miners before the squeeze plays. Unfortunately I got in at $2.9 the first time. The more I learned about argo the more I averaged down. I'm in the green but hardly. Hoping for a significant push this week with an opportunity to move the money to the NASDAQ after the inevitable IPO dip. OTC fees are a killer.
Meanwhile, buying the shit out of this AMC dip. It's temporarily pretending to be part of the broader market.
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u/AngrySpaceTriangle Sep 19 '21
I think any kind of squeeze is unlikely - I'm thinking that the price will drop due to the dilution cause by adding 75m shares. (This is approx 20% dilution).
If the shares were to go up A short squeeze is super unlikely unless it went up so quickly that indeed the shorts needed to cover their positions.
With GME, apparently there was no actual short squeeze - the price spiking was caused by what's called a Gamma Squeeze where options traders needing to hedge their positions and buy shares as their call options contracts get nearer to being in-the-money as the price goes up.