Aug. 17 at 6:45 PM
$GSIT Get rid of your bags while you can. This stock is an obvious scam with, strangely, only 12% short interest. The reason for this low short interest is probably that the stock is so illiquid. Panic selling in an illiquid stock can send it down 50% in a couple of days, squeezing bagholders. We already witnessed this recently. In fact, a single large seller, an insider for example, could absolutely tank the stock.
Insiders are eager to dump on retail. There is no competitive product, just recurring losses. The only path is toward liquidation or bankruptcy. GSIT has already sold its headquarters, a covert liquidation. Management & board of directors know perfectly well that there is no future. The only way to keep the narrative alive is through massive dilution, which could be announced any day now
The recent surge was purely beta-driven. The smartest investors used it to unload their bags. If the broader market reverses, as it appears to be doing already, this stock will tank. HARD
