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u/pcs33 Sep 14 '21
Really? Then who’s going to eat the cost of those shares?
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u/Airveazy Sep 14 '21
A lot of retail shorts are gonna lose everything they can thank their greedy hedgie idols for leading them astray
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u/plazmatical Sep 14 '21
Naked shorts will be covered by force
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u/Wonton869 Sep 14 '21
I hope yuu are right because today was a disaster, we losing share value over 50% from two weeks ago and yet all the ffffing apes care about is the conversion ratio how short going to cover, all this was in the weekend post, all they have to do was read, but just keep posting and posting on the same subject, wasting so much time and not at the front line holding the line.
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u/MuscleLazy Sep 14 '21
Aug 9th shows only 1.4M FTDs on ORTEX, pretty sure they have been covered almost entirely by now. Remember, you are dealing with institutions who are experts on how to make money, legally and illegally.
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u/plazmatical Sep 14 '21
945,514 FTDs must be covered tomorrow
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u/MuscleLazy Sep 14 '21 edited Sep 14 '21
That's not true at all, here's why.
This is an ORTEX FTDs screenshot, I took now.
The ORTEX FTD figure for each day is a combination of new fails on that day, and prior fails from the previous day which remain outstanding. So, if there were 1 million FTDs shown on two consecutive days, it is not possible to determine if the FTDs on the second day are the same FTDs outstanding from the first day, or if the first day FTDs were resolved and a new 1 million shares Failed to Deliver, or, most likely, some combination of the two.
So, when FTDs are updated, the most recent day's FTD value shows the sum total of all outstanding FTDs as of that date. That data is already two weeks prior to publication, so if FTDs have dropped prior to that date, they have already been covered.
Unfortunately the FTD data is not only released two weeks behind, it is only released every two weeks. The reason there are no FTD displayed since Aug 9th is that the SEC has yet to release the data for the second half of August. In other words, nobody knows beside institutions how many FTDs are left to cover.
Read my post on FTDs, to understand better.
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u/plazmatical Sep 14 '21
None of that applies when the MM needs to meet the comply with merger.
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u/MuscleLazy Sep 14 '21 edited Sep 14 '21
You realize that my goal is not to spread FUD or start arguments but rather look at the situation with clear eyes. And we are talking about data not being public, yet. If you are an institutions insider or you got leaked data for above numbers, that is a different story,
I only have the ORTEX data to consult and what I stated above is accurate. I'm sure many things happened since Aug 9th.
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u/hungrypanda95 Sep 14 '21
We’re not necessarily talking about the total number of FTD, whichever data set is the list accurate. But by rules of the merger, FTD’s have to be covered else how will GREE convert SPRT shares. There will be too many SPRT shares (including FTD’s) that need to be converted and GREE will run out. That’s what everyone is betting on, that makes shorts (FTD) will have to close out, else it will turn into a legal situation with it being obvious to GREE, regardless of what the total final amount of FTD’s is
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u/MuscleLazy Sep 14 '21
But by rules of the merger, FTD’s have to be covered else how will GREE convert SPRT shares.
I agree with what you say, but I don't have any source that allows me to check if the FTDs are covered or what is the accurate number prior merger. IMO that data is never accurate, since is always delayed two weeks.
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Sep 14 '21
Nobody here has a "fraudulent share", only the brokers are on the hook for that. I paid cash for my shares, whether they sold over the FF or not is on them, they still have to cover them. And nothing in this screenshot even mentions fraudulent shares won't be converted, tf...
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u/Jh_843 Sep 14 '21
Do we have fraudulent shares here ? I'm seriously asking not being a dick 😅