GME shares shorted are now 27.13 million.
By Ihor Dusaniwsky
A week of retail investors running up the price of struggling stocks has shocked Wall Street, forced the world to pay attention, and left a trail of chaos and confusion in its wake. Investors were left unsure of what would happen next.
As S3 short insight data shows, GameStop shares shorted significantly declined as short sellers began liquidating their holdings. Over the last few days, GameStop short interest has decreased from $11.20 billion to $8.82 billion. Short sellers bought to cover and trimmed positions as they incurred large mark-to-market losses. GME shares shorted are now 27.13 million.
GME price volatility has been remarkably high, and the stock has gained +400% over the last week. Long shareholders have been able to support GME’s stock price and rally it to historically high levels.
While long shareholders are looking at significant mark-to-market gains, shorts are now down -$15.31 billion in year-to-date mark-to-market losses. Both fundamental and momentum short sellers have found opportunities and price exit points to trim their positions in the face of these losses. The GME short squeeze is in full force.
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