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A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
Short interest on GameStop sits at around 24% of the float, according to S3 Partners data. "Including today's losses, GME shorts are now down -$1.34 billion in May month-to-date losses, and now ...
Interest in meme stocks started in 2020, [4] in what the U.S. Securities and Exchange Commission has called a "meme stock phenomenon". [12] The stock of American video game retailer GameStop has been one of the most popular meme stocks, [13] [14] with mass purchases of the stock leading to a short squeeze on GameStop in early 2021. [5]
Investor pessimism, however, has quietly turned GME stock into a short-squeeze candidate. Sagging trading volume means that it would take tr. Editor’s note: This article was updated on Oct. 18 ...
Short interest in GameStop remained elevated since that meme rally, data from S3 Partners showed, with almost 24% of the float. GameStop shorts were down $1.36 billion on Tuesday after losing ...
The net sales for fiscal year 2018 were down 3% year-on-year to $8.29 billion. [113] The company also eliminated its dividend. [114] [115] In December 2021, GameStop posted a larger-than-expected loss in the fiscal third quarter, and investors are waiting to hear how the ailing company plans to restructure its operations and entice gamers back.
Gill helped spearhead the massive rally in GameStop stock at the end of 2020 and the start of 2021, sending shares hundreds of percent higher. Gill’s X account suddenly became active in May ...
The short position adopted by Melvin Capital and others resulted in more than 139% of existing shares of GME being shorted, making GameStop stock the most shorted equity in the world. [31] Through the end of January 2021, the fund was down 53%, according to WSJ . [ 5 ]