Ok apebros, Rapid fire breakdown of how this works and what you should be looking for:
FINRA, a US government backed non-for-profit, reports SI% on stocks on a regular cadence. The numbers are calculated and provided to investment agencies/firms, which are cascaded to the public. It's my understanding that the raw data is provided, so some agencies provide different SI%.
FINRA SI Reporting Schedule
Next time numbers get to the public is 3/9. That means we'll find out if the short is still on (more than likely is - in fact, there are still firms shorting the stock even now, betting that we won't continue to hold long enough for them to get executed).
You find out about if the short is still on by visiting multiple credible sites, and making your own judgement about what the SI% is based on the firms findings.
There are others. If someone posts them in the comments I'll add them to my larger post I'm putting together with all this info.
Right now, based on the average of these 2 sites, we have about a 40-50% Short %. This is how we will end commanding the price, as long as we hold. When they come to collect these shares, and they must be collected, they will have to buy the shares from us, at whatever price we've set.
Now they could short their short, in order to buy themselves more time. But that also gives US more time to accumulate real shares. So again, a few weeks later when they calls come up, they must again pay us, or short their short, that they'd already shorted. This would be reflected in the SI% going above 100%.
If the SI% has increased when posted on 3/9, they short is more than on, it's thriving, HOLD. If it's the same, HOLD. If it's < 20% on every site, things get real questionable.
SI% gets updated every 2 weeks. Those are the big landmarks. And each Friday, calls are executed, which is when shorts may start collecting shares, in order to payout. I believe they have until Tuesday to fully pay out all executed shares.
At the moment, we're doing great. And since it's not a key day, the shorters aren't buying yet, trying to buy themselves as much time as possible before they MUST collect. So a flat day is totally normal. Tomorrow will likely be very similar. We may even see a dip. Anything < $120 is a discount. At 45% SI, all seriousness, $500 is not a meme. And it could certainly go WAY higher, if we all held together.
This is basically how it works, I think. There are people way smarter than me here, and I wouldn't be surprised if I was off on a few things. I'm not an advisor; this isn't financial advice. Just a dumb ape who wrote this up as a comment to someone who asked how this works and wanted to share. Let's build on this post together and keep it circulating.
We need to educate fellow ape. Ape together strong.