Columbia associate professor of law Joshua Mitts discusses an article he wrote over a year ago predicting a squeeze on social media.
NEW YORK – Short interest in GameStop Corp, whose shares soared this week, stands at $ 11.2 billion, making it the third best-selling stock in value, although the number of shares sold has declined, the analyst said. S3 Partners.
The video game store chain GameStop is the third largest seller in value behind Tesla and Apple, said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
The number of GameStop shares sold fell 8% in the last 7 days, to 57.83 million, as some short sellers hedged their bets that the shares would fall, said Dusaniwsky.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 325.00 | +131.40 | + 67.87% |
GOV’T ESTIMULUS CHECKS FUELED GAMESTOP SURGE: GUNDLACH
GameStop’s stock soared more than 400% this week on Friday, bringing its market value to more than $ 23 billion. It was one of the main actions fought in a battle between small traders and large financial institutions.
While some short sellers hedged their positions to prevent any losses, others “impulse sold” took positions, betting that “nothing goes to the moon forever,” said Dusaniwsky.
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“This was not a short-distance rally. This has been a long-term event, ”said Dusaniwsky.
Earlier on Friday, GameStop short sellers have had mark-to-market losses of $ 19.75 billion so far this year, S3 said.