>>20241074I wonder what everyone's interpretation is here? They likely want to close their books on things like GME so they don't get blown out by MOASS in after hour trading? Or they are only exposed for one day and not two. They anticipate drastic price action that would be my guess and settling T+1 cuts the exposure in half. This could also be a shot-across-the-bough that they are no longer content to be picking up all of these GME obligations and being forced to wait for Dark Pools to provide the shares. They know the price is mismatched and a major playing is at risk of implosion in a $4QD derivative market. Even at the broker level I think things are hitting levels of danger that they are moving the pieces on the board that they can.
This is like a newpaper ad-misprint where Filey Mignon is priced at $4 per pound for the entire week. The people are lined up around the block buying up as much as they possibly can and the store is FORCED to honor it all week because corporate is not willing to step in and admit they were wrong and reprice the meat to $25 per pound. The filet mignon is out of stock and they are taking orders for hundreds and THOUSANDS of pounds to be honored and all they can do is bite their teeth as the profitability of the store gets crushed and possibly at risk of bankruptcy themselves.
We're the people walking up stuffing our freezers full of quality meat at the $4 price tag and they can do NOTHING about it but honor the purchase. The're probably BK either way. But they are the ones who mispriced the stock, not us. They can fix the problem whenever they want by closing their shorts.
