![]() Those who bought GameStop became co-owners of a company through a system of mutual trust and participation that sustains our economy. Underneath the memes are actual companies, with employees, customers, and plans to invest in the future.However, when share prices change rapidly and brokerage firms suddenly suspend trading, investors may lose money. There are many different types of investors, and they buy and sell stocks for many different reasons. At the same time, the trading in meme stocks during this time highlighted an important feature of United States securities markets in the 21st century: broad participation. The extreme volatility in meme stocks in January 2021 tested the capacity and resiliency of our securities markets in a way that few could have anticipated.On January 29, Citadel internalized approximately $2.2 billion of GME stock, while Virtu internalized approximately $1.4 billion.Virtu internalized an average of $23.4 million of GME each day in December 2020 and $2.2 billion of GME on January 26.Virtu Americas accounted for approximately 26% of the internalized volume during January.On January 27, Citadel internalized nearly $4.2 billion of GME For example, Citadel internalized an average of just under $37 million of GME per day in December 2020. ![]() Citadel Securities accounted for nearly 50% of internalizer dollar volume during the month, rising to as high as 55% of daily internalized dollar volume twice.The market for internalization of GME was highly concentrated, with 88% of internalized dollar volume in January executed by just three wholesalers.The vast majority of GME stock trades executed off exchange in January 2021 were internalized (approximately 80%) as opposed to executed on ATSs.Staff found GME did not experience persistent fails to deliver at the individual clearing member level. ![]() For example, staff observed that particularly during the earlier rise from January 22 to 27 the price of GME rose as the short interest decreased.Staff observed that during some discrete periods, GME had sharp price increases concurrently with known major short sellers covering their short positions after incurring significant losses.When examining short interest as a percent of shares outstanding, GME is the only stock that staff observed as having short interest of more than shares outstanding in January 2021.Short interest can exceed 100%-as it did with GME-when the same shares are lent multiple times by successive purchasers Some commentators have asked how short interest can get as high as it did in GameStop.Staff did not find evidence of a gamma squeeze in GME during January 2021. Gme short float driver#
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |