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This caused the GameStop stock price to rise from under $14 to over $48, though Gill's post did not mention GameStop. GameStop benefitted from this by issuing more stock at over $20, raising over $900,000,000. [207] [208] [209] Other stocks such as AMC, BlackBerry, Virgin Galactic also experienced major increases during this time period. [210]
A screen shot posted on June 2 showed Gill held 120,000 GameStop June 21 call options at a strike price of $20, bought at $5.6754 per contract or $68.1 million in all.
But because short positions can result in infinite losses if a share price keeps increasing, ... such as when Left challenged the Reddit community Wall Street Bets on the meme stock GameStop in ...
The letter also revealed that Scion owned approximately 2,750,000 shares, or about 3.05% of GameStop. The stock price of GameStop, which had been in steady decline in share price since late January 2019, spiked roughly 20% after Burry revealed that he was buying the stock in an interview with Barron's.
GameStop raised almost $2.14 billion as it capitalized on the recent stock rallies spurred by the online reemergence of influential retail trader Keith Gill.The video game retailer said on Tuesday ...
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