MetaPlanet tanking 35% sparks fury: ‘Short squeeze them to Valhalla!’
Investors in MetaPlanet (3350.T), the MicroStrategy-like Japanese bitcoin (BTC) acquisition company, are concerned about short-sellers attacking their portfolios. A screenshot of the Bloomberg terminal with a list of bankers went viral on social media yesterday following the company’s 35% retracement from its $13.38 high. Within just four business days this month, shares of MetaPlanet crashed from ¥1,930 ($13.38) to ¥1,251 ($8.70). Near that unnerving low, an observer screenshotted a list of share movements from various banks and blamed its bankers for short-selling those shares. With an overly simplistic and dramatic claim designed to go viral on social media, the trader believes “banks are shorting” MetaPlanet and its “strategic BTC play.” MetaPlanet up 330% even after the short attack Even if the claim were true, MetaPlanet is prevailing against these bankers’ alleged attacks with definitive success. Year-to-date, MetaPlanet is up 330%. Over longer time frames, ...