This is an automated archive made by the Lemmit Bot.

The original was posted on /r/Superstonk by /u/WhatCanIMakeToday on 2026-05-15 16:40:51+00:00.

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Something very rare happened last night with XRT Shares Outstanding at 1.4M:

https://preview.redd.it/2lt8n5hfob1h1.png?width=791&format=png&auto=webp&s=af9517fcb1cda5c211a14844a2155edcecf55423

XRT Shares Outstanding very rarely drops this low. In fact, you can check the Shares Outstanding History (available from the Most Recent NAV / NAV History link in that image above) and filter for Shares Outstanding < 2M as I did here:

A lot more data below the cutoff (not shown) for the 2006-2008 time period

XRT hasn't had fewer than 2M Shares Outstanding except for a handful of instances:

• 2025-08-01
• 2025-05-01
• 2022-02-07: 1 Year and T+6 [1] after the Sneeze 🤧
• 2006 through 2009: The Great Financial Crisis

So let's look in more detail at the May 1 and August 1 (2025) instances.

2025-08-01: On this day,

• XRT Shares Available to Borrow dropped down to 0 [Me on X]
• XRT FTDs jumped to 946k (by Settlement Date so 7/31 Trade Date) [2]
• Overnight Reverse Repo plummeted to $97B from $214B on 7/31 [SuperStonk]
• After 28 consecutive trading days of >50% Off Exchange Volume [SuperStonk]

🌶️ SPICY! And it gets better, GME volume jumped the day before (7/31) which also had XRT Lending Pool run dry (0 Shares Available) [Me on X].

On the next trading day (2025-08-04), 12M CAT Options Errors [PDF] (equivalent to 1.2B underlying shares which is about 10% of an average trading day volume for the entire market [SuperStonk, 3]).

2025-05-01: On this day,

• XRT Shares Available to Borrow dropped down to 0 [Dr. MichaelTLoPiano on X]
• Massive creation/redemption blocks for XRT [TheUltimator5 on X]
• 1.6B CAT Equities Errors [PDF] (about 10% of an average trading day volume for the entire market [SuperStonk, 3])

🌶️ SPICY! And it gets better, on the day before (4/30):

• DownDetector spiked for several financial companies at the same time (including Wells Fargo, Bank of America, Chase, Visa, Mastercard, PayPal and Venmo) [SuperStonk]
• Swiss National Bank launched an ELF -- Extended (didn't want to use Emergency?) Liquidity Facility [SuperStonk]
• DTCC collects a "Special Charge" for "Volatile Market Events" [X, DTCC PDF] alleging the Non-Farm Payrolls (NFP) / Unemployment Rate as the reason
• $110M was borrowed from the Federal Reserve Lender of Last Resort [Fed Repo, SuperStonk Context for Federal Reserve BackStopping GME Shorts as Lender of Last Resort]

On the next trading day (2025-05-02) Antara Capital went under [SuperStonk].

BUCKLE UP!

[1] Standard ETF creation deadlines are at T+3, T+6 and C35 [Me on X] per the Mendel University in Brno paper titled “Confirmation of T+35 Failures-To-Deliver Cycles: Evidence from GameStop Corp.” (also covered by my DD Shit's Hitting Fan)

https://preview.redd.it/gcqps076pb1h1.png?width=1744&format=png&auto=webp&s=02c83de2d00aae0458f9c9e36424a8c178737937

[2] If ChartExchange no longer shows this as it's too old, you'll have to use the SEC data files or just refer to these annotated charts.

https://preview.redd.it/lixed4ylqb1h1.png?width=1200&format=png&auto=webp&s=be4a2aaf4d43f775b3d0525d76d47101abed76de

https://preview.redd.it/zhykm2jxqb1h1.png?width=1201&format=png&auto=webp&s=544bdf666149f723c60112473e984d0dbcdb162d

[3] According to FINRA Market data, 2023 had about 2,760B shares traded that year with between 250-252 trading days per year or ~11B shares trading per day.

https://preview.redd.it/2yxrnkl1ub1h1.png?width=2082&format=png&auto=webp&s=ba4051196d2b75d04e619a4ef41f6a3dfa4e1273

https://preview.redd.it/6b7mhr0jub1h1.png?width=2070&format=png&auto=webp&s=428f8046d84cb870e22d6502fa1091c5f2c41af5