MODS ASKED ME TO MOVE Parts together, so Part 3 is copied again below.
Hey, adding a part 2 for Wish DD since more information came to light.
Summary of p1: Hedge funds bought shares at a high and a boat load of puts. Stock got shorted down from $15 to $7.60 and the puts printed. They then averaged out their high bought shares. Shares increased from less than 100k shares to over 1million shares (times 2) for two examples mentioned.
Why part 2? Information that came to light:
So on Finviz the last short interest reported was at 8% of the float.
Recently Bloomies terminal updated and now the SI is at 48% of float.
Very critical in confirming the reasoning behind how the price got pushed down from $15 to $7.60 and a ton of puts were bought before the drive down.
The average trading volume for WISH is at about 5million, for the past two days we are seeing record highs of 50million in volume back to back. This is an indication that the floor has been met and there is absorption going on. The $7.90/$8 has rejected and Wish is now pointed upwards at the short sellers.
This is only a run up and since the shorts opened at $15 there is time for them to close with little to no losses espcially since the run up has been small. Given that the price dropped from $12 to $10 previously and the price today hit $9, the shorts who opened at $10 will start the covering. If the short squeeze from $10 rolls over, I do not believe $15 is the next level, it would be at $21. Reason being the past two absorption levels were at $20-$21.
Edit* Added float information
Float vs Shares Outstanding:
So the shares outstanding for Wish is around 600m but the last time the public float was reported at 300m. Today in the Bloomies update the public float is at 60m. With the float size decreased by so much WISH is super volatile, the price action might even break my $21 thesis since many less shares are exchanged and a short covering would require half the float to be traded.
Edit* the original tradeable float was 600mm-120mm lock up = 480mm
The current trading float is 60mm after the shrinkage.
With a ton of institutional investors the float shrink probably means something was at work and the price was pushed down so shares can be bought up by someone else. Basically a buyback without shrinking the total number of shares in the market.
The plan to bring the price down to do the shady exchange have been caught with the pants down. Right now the pants are down and the exchange of shares is happening for control of the company. The shorts need to be covered and the float will need to hit shares outstanding again.
>! Possible price target $100. The normal float if 480mm shares exchanged in a day during a squeeze.!<
Verdict: The rocket is in motion. 🚀 🚀🚀 and I like this stock
MODS ASKED ME TO PUT PARTS TOGTHER!
PART 3 BELOW
I believe I need to post part 3 separately since it's a whole other story.
Note: I am not a financial advisor and this is not financial advice
I bring you part 3, the innerworkings of an under the table transaction.
The Art of the Deal
p1: Shares shorted, puts bought, shares held gone up to ATH by hedgefunds
p2: Bloomies updated, SI went from 8% to 48%, tradable float down from 300m to 60m
Why is Part 3 coming in so fast? The puzzle might be solved and the pants are down.
Strange how the tradable float can go from 300m to 60m and institutional investors at 98%.
This only means one thing, something shady is going on.
Piecing the pieces together, the float shrinkage is due to shorting and an artificial buyback without actually reducing shares. The thesis is that there is a takeover of WISH shares and the prices was driven down with puts and shorts so the shares can be exchanged at lower price. The results of the shorting and exchange created a low float and now as the exchange is happening.
Right now, the stonk dealers got caught with their pants down mid exchange and the shorts need to be covered and the transaction completed at a higher cost basis.
Edit* With such a low float of 1/8* the actual real float this WISH squeeze might be yuge.
Low float ✔️
High volatility ✔️
High Shorts ✔️
Pants still down? ✔️
I like this stock ✔️
CHECKMATE BETCH ♟️ (I am no simple pawn, but there are many, thousands, millions of me)
STOP ROBBING PETER(US SHAREHOLDERS) TO PAY PAUL( 🤡 )!
Grab shares and make your wish, aim for the moon and land on the stars.
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