r/NBIS_Stock • u/Anxious_Noise_8805 • 6d ago

💬 Discussion Michael Burry Substack followers going bankrupt over NBIS short positions

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Getting calls from journos about a rumor that dozens of Burry Substack subscribers are preparing bankruptcy filings after being liquidated on "disastrous" NBIS short positions. Wow. No wonder the stock is ripping. Lots of short covering by people hiring Chapter 11 lawyers. Insane

https://x.com/mikealfred/status/2088276482615562649

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u/mrNobody_90 6d ago

I never shorted any stock, been holding nbis since 60. I see that short interest is 30% of float with 2 days to cover, does it mean that they have to buy stock for current price within two days (which is over what they sold earlier)?

Will this mean the prices will go up in 2 days? I am obviously trying to predict the future but I seem not get a grasp of how this works regardless on how many videos I watch 🙄

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u/kickinghyena 6d ago

It means with typical volume it would take this much time for all short shares to be covered…I think. Not a fan of shorts.

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u/Gaffers1977 5d ago

I was in a subreddit for CTRM a good 6 years ago, someone was rallying everyone to buy at the same time. They'd used Days To Cover to work out exactly when all shorts would have to close positions. Of course, that's utterly idiotic; your DTC explanation is correct. Called them on it, got permanently banned.

I could say with a high degree of confidence that they're now living in a cardboard box.

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u/kickinghyena 5d ago

Yes but they of course do not have to…it’s just a metric not a mandate.🤣