cylon_agent

http://www.reddit.com/user/cylon_agent

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cylon_agent45 karma

The SEC would disagree there. According to them it was retail fomo primarily that pushed the price up.

So who are we to believe, an analyst who hasn't done enough research for this AMA, or the SEC which investigated these events for months?

Not that I believe the SEC has our best interests at heart either. Gotta say I'm surprised they put that out in their report.

cylon_agent23 karma

Options purchased by retail counts as fomo. The delta hedging of retail options was a significant part of the price action, yes.

Point is the price was primarily driven by retail, not short positions being closed. There's no doubt since over 100% of the float was shorted, closing those positions would have shot the price up into the thousands easily.