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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.
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]
Citron was forced to close its short position in GameStop at a loss in 2021, after retail traders ganged up against heavily shorted stocks on online forums to drive rallies, which cost bearish ...
GameStop stock tanked more than 18% Wednesday as a rally among meme names showed signs of fading.Shares of the video game retailer are coming off a two-day short squeeze. GameStop stock gained ...
A GameStop store in a mall. In September 2019, Gill, under the username "u/DeepFuckingValue", posted on the subreddit r/wallstreetbets a screenshot of a trade consisting of a roughly $53,000 long position in GameStop; [8] Gill's Reddit posts and YouTube videos argued (through both fundamental and technical analysis) that the stock was undervalued. [3]
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 ...
[188] [189] This effect was mainly attributed to short sellers using illegal business practices causing the stock to be shorted over 100 percent of the free float of the company. There is uncertainty around the size of the effect of short sellers closing their position.
Citron Research no longer has a short position in retail traders' favorite GameStop, the short seller said on X.com on Wednesday, days after taking a bearish position in the company. Andrew Left ...