They have money borrowed to cover themselves at a crazy interest rate. The longer they wait the more fucked they are. Today was the day a bunch of options expired that was their only real chance to get out of this, but they couldn’t tank the price low enough, so as long as people hold firm they will be stuck paying interest on 75m x $20 or have to buy at whatever the asking price is. For now they are going with the interest but they can’t do it forever and eventually it will be even more costly
They have money borrowed to cover themselves at a crazy interest rate. The longer they wait the more fucked they are. Today was the day a bunch of options expired that was their only real chance to get out of this, but they couldn’t tank the price low enough, so as long as people hold firm they will be stuck paying interest on 75m x $20 or have to buy at whatever the asking price is. For now they are going with the interest but they can’t do it forever and eventually it will be even more costly