I'm confused -- I see volume of 35,422,867 shares today x Stock Price (just to get a number) comes out to ~$7.37B in value of shares traded. 330K shares is a little under 10% of the daily volume. Yes moves the price but it's no where near double the daily volume or total deal size. What am I missing?
Hey you're absolutely right. I misread the volume. The amount that XRT needs to sell on Friday is a lot smaller than the average daily volume of GME (300-400k shares vs 40 000k average daily volume).
This thesis still stands imo (but weaker), since multiple other ETFs need to rebalance out of GME and this can dampen sentiment going into the end of the month.
I'm confused -- I see volume of 35,422,867 shares today x Stock Price (just to get a number) comes out to ~$7.37B in value of shares traded. 330K shares is a little under 10% of the daily volume. Yes moves the price but it's no where near double the daily volume or total deal size. What am I missing?
Hey you're absolutely right. I misread the volume. The amount that XRT needs to sell on Friday is a lot smaller than the average daily volume of GME (300-400k shares vs 40 000k average daily volume).
This thesis still stands imo (but weaker), since multiple other ETFs need to rebalance out of GME and this can dampen sentiment going into the end of the month.
https://etfdb.com/stock/GME/
We also see that GME's momentum is already waning this week, and we can see a possible pullback to the low $100's by end of month.
Of course, this is GME, so quite risky, given that this stock moves unpredictably.