Originally Posted by
JTwift
Nobody on WSB is talking about American. This is 100% someone at FoxBusiness making up a story to either distract from GME or, worse, prop up their own investment in American. Which is more market manipulation. Notice the article said “one thread.” Yeah, there have been posts of what seem to be distraction attempts by bots and maybe the short GME holders, trying to divert attention.
See, Fox can write an article claiming X stock is the next GME! And that’s ok. But a bunch of random WSB people call out a hedge fund for shorting 140% of shares, and all of a sudden there needs to be regulation.
I expect more of these stories with [insert whatever stock].
I agree completely. I’ve been on WSB for years, and have been watching (and participating to some extent) in the meme parade lately of TSLA, PLTR, GME, etc.
Every so often there are some posts asking about some of the travel stocks, but the only recent discussions are about AMC, BB, etc.
GME had several unique features that lead to the current situation. Very heavily shorted, a new CEO that is highly regarded, bullish positions from people like Michael Bury, and bearish positions from firms like Citron and Melvin (places that the WSB guys hate with a passion). These are all things that have nothing whatsoever in common with AAL.
Finally, the article in question seems to suggest that simply because AAL has a higher percentage of short float than rivals (UAL, DAL, LUV, etc.) that this means it could blow up. That’s really silly, as the short position on AAL is still WAY too low to create a short squeeze. The reason AAL is more heavily shorted than rivals is because it’s a riskier investment than rivals.