The SEC's own 2021 staff report admitted that the January run-up was driven by retail buying sentiment, not by short sellers covering their full positions.
So where did the legacy short exposure go? Into Total Return Swaps, basket derivatives, and synthetic locates backed by street-name omnibus pools. That's why removing shares from DTC street name into Computershare (DRS Book) and ditching IOU brokers like eToro attacks the root of the swap collateral.
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Every time a swap maturity window rolls around, volume explodes out of nowhere.
And every quarter, GameStop's cash pile grows while the DRS Book ledger stays locked.
NoMoreIOUs!.881jHlO | ID: 0c604c39 | No. 274 | 2025-04-21 15:40:53Time and compound interest are 100% on the side of unleveraged spot holders.
Rustacean!.xkBP.Tg | ID: c90c3cd4 | No. 275 | 2025-04-21 16:36:22