The ratio of short volume to total volume confirms the GME sell-off over the last few days is shorting, not real selling. GME 🚀🚀

Many people here have pointed out that this selling seems artificial, multiple brokers report overwhelming buy orders, etc. The official data are in complete agreement with that. S3 and Ortex data are estimates, but FINRA data (from which the bimonthly official short interest reports are generated; this is the best there is) have shown that for the last five days, more than 50% of shares sold have been sold short:

http://regsho.finra.org/CNMSshvol20210202.txt (search GME; see also 2/1, 1/29, 1/28, 1/27)

https://nakedshortreport.com/company/GME (pretty plot, though the data are slightly different from the official data given in the links above; both sources confirm that short volume has been > 50% total volume over the last five days, including today)

As an aside, according to that second website, "if you see more than 20% of your overall volume initiated short on a daily basis... you may be under [a naked short] attack." SEC, a little help, please?

In any case, the day before Robinhood and other brokers instituted the restriction on GME share and option buying was the last day that more than 50% of all GME shares sold were not sold short. Shorts have been going in even harder on their shorting while they know buying is difficult for us. We win if we hold.

This is pretty definitive that shorts are causing the current crash, and they definitely haven't covered when doing so. It's mathematically impossible for shorts to cover if more than 50% of all shares sold in a day were sold short. Shorts are instead continuing to double down. GME will eventually rise, especially if Cohen and friends give some good news anytime soon (e.g., official company roadmap released, Cohen and friends buying the remaining shares they can, etc.). It will rise regardless of good news because shorts don't want to pay interest forever if a stock trades sideways. And as soon as all of us can buy an unlimited amount again, we can squeeze them once again.

I've shared FINRA data on here before and gotten some questions which have at this point become predictable, so I'm going to answer them below.

Couldn't shorts open their position and cover by the end of the day?

No, because more than 50% of all shares were sold short, there were not enough shares for them to cover the shares they sold short even if every single share purchased other than a short share today was sold from a long to a short. It's mathematically impossible. They had to add at least around 10% of the total volume each of the last five days to their short position (most days had about 55% of shares sold short (some even more), and 100 - 55 = 45% not sold short; 55 - 45 = 10% more shares sold short than shares sold long). And I know that I bought more over each of the last few days, as did you glorious autists, so it was probably more than 10% of the total volume they were adding per day for each of the last five days.

The total volume from those websites is less than the day's volume that my broker or another site tells me was traded

Yes, that's because FINRA only records data from specific markets/exchanges, not all of them. Although the total volume is less than what is sold over the entire market, the ratio of short sales to total shares sold is representative of the entire market, because they pull from the biggest exchanges. As mentioned above, FINRA is also the highest quality short data; the official bimonthly short data that is published is by FINRA pulling from these same data. These data are accurate.

 

Edit to add: I am not a financial analyst and this is not financial advice. Make up your own mind about everything. Also, I am long GME.

TLDR: Shorts have added a retardedly large amount of new short positions over the last five days. Keep holding, don't sell, and when you can buy more buy more. GME to fucking Orion's belt 🚀🚀🚀🚀🚀