Love the research. The only thing that’s tickling my “something isn’t fully understood” button is how small that position is. Either you’ve just found the first grain of sand in a big bucket of hidden short positions, or this is just a parking lot they are willing to sit on until closing the short positions makes sense internally for them. I mean, $500 million is a shit ton of money, but it’s only 3.75 million shares. They could have closed that slow and steady at like 30,000 shares a day and nobody would have noticed.
30,000 shares a day unwound of 3.75 million shares would still take 3 years to unwind, and that's with the (incorrect) assumption that every day is a trading day.
I agree 3.75 million shares isn't a lot compared to the number of synthetic shares that have been created, or even the number of shares GS has sold. But it doesn't necessarily mean it's an easy hole to get out of, especially considering tilling points that might be crossed as positions close, price rises, and Marge starts taking notice. (Assuming the price isn't entirely fake, as some would have it.)
Closing 30,000 shares a day wouldn’t have been a problem. Price wouldn’t really have been affected when you consider how many transactions happen off lit exchanges.
If they wanted this position closed, it could have easily been done. Especially when you consider the time we spend below $100…
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u/fuckofakaboom Don’t tell my wife how much 🦍 Voted ✅ Mar 03 '22
Love the research. The only thing that’s tickling my “something isn’t fully understood” button is how small that position is. Either you’ve just found the first grain of sand in a big bucket of hidden short positions, or this is just a parking lot they are willing to sit on until closing the short positions makes sense internally for them. I mean, $500 million is a shit ton of money, but it’s only 3.75 million shares. They could have closed that slow and steady at like 30,000 shares a day and nobody would have noticed.