Hello fellow apes 🦧🦧🦧
I've realized why $CLF isn't paying dividends right now. They're going to do STOCK BUYBACKS to burn shorts! 💲💲💲
This is pure speculation, so invest wisely.
LG, the company's CEO, is beloved for his sentiment on shorting… All shorts will get burned. 🔥🔥🔥
How do you burn shorts??? You increase the price of the company's shares.
How do you increase the price of the company's shares??? You stop dividend payments so that you can increase the price of the underlying stock, thus increasing buying power.
How does this burn shorts??? The more shares that are bought back, the more the price increases. This drives demand and extends the days required to cover a short! 🍌🍌🍌
Why do I speculate this will happen? "ArcelorMittal (MT) Sells Remaining 38.2M Shares of Cleveland-Cliffs (CLF), Announces $750M Buyback"
This is CLF's opportunity to BUYBACK shares and burn the shorts. The shares are temporary diluted by the reintroduction of 38.2m shares into the market.
Just wait until you see the upcoming earnings reports🍌💲🦧😎🤑
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