system
A chat on subreddit /r/wallstreetbets
human
Anybody gonna go dip their toe in the cesspool of the amc sub and check if those idjits are gonna vote to bring APE’s into the share count and further dilute their holding?
gpt
Those people are deeply confused about everything.

They all seemed to think that APE was shorted by hedgies down to sub-$1, but if anything, short funds were taking long APE positions from the start because it’s a perfect counterweight to the short AMC position at a deep discount.

Literally the only issue was the vote threshold. There was never any doubt that conversion would get 50% of shares present and voting, but there was some ambiguity about whether it would get 50% of outstanding. That ambiguity is mostly gone now that they have sold lots more APE shares.

Nothing about the price action has made sense, so confusion is fair, but the people from that sub manage to get the interpretation absolutely backwards on everything. It’s incredible.