Global Gaming Technologies Corp BLKCF

This could get ugly

[Razzyrazz]

Shorts hammering and taking major advantage of this news. Nobody wants to sell to keep spin off shares and everybody is buying the shorted shares the shorts are shorting to get spin off shares.
 

Seen this before several times. If this breaks 1.41 support. She be a falling knife. Glad a bolted at 1.69 and will catch the bounce reverse.

Just heads up to all, that is all.

[sailor1986]

Shorts won't be getting any new shares. They gonna have to buy new shares to return them to the original holder. Same like with dividends paying stocks. When you short the divi paying stock you have to pay the dividend to original owner your bank borrowed shares. Please correct me if I am wrong.

[sailor1986]

My opinion what's going on today shorts are scrambling to bring sp down to cover to avoid buying new spinco shares. Please collaborate with me on this one.

[Razzyrazz]

I and saw it differently. I see shorts taking day or swing short positions with the first 1million shares traded in immediate open. Then drove it down knowing that buying interest to gather shares and hold for spin shares would increase as the price lowered. Shorts cover on the day or swing short and price is now rising. Hammer and nail in my opinion

[BigPoppaStock]

Big shorts on the whole sector.  If they choose to cover, this could move in a hurry.  Believe!

[Razzyrazz]

I agree. I see it moving next week. I actually wouldnt be surprised to see a close over a 1.70 and a bummer day like today.