What is GameStop's short interest?
The short interest for GME / GameStop Corp. is 11,713,653 shares.
What is the short interest for GME
The short interest for GME / GameStop Corp. is 11,713,653 shares.
Are dark pool trades counted in short interest?
Dark pools are different from lit trading venues in that there is no pre-trade information such as bid/ask data available. However, once a trade is...
Are short interest figures unreliable because they are self-reported?
Although there are likely some entities that self-report their short interest, most short interest reports are provided by broker/dealers for their...
How many shares of GME / GameStop Corp. were shorted on dark pools?
The most recent dark pool short volume data for GME / GameStop Corp. reported by FINRA was 710,125 shares.
Is GME going to short squeeze?
Although it is impossible to perfectly predict short squeezes, Fintel has developed a quantitative model that ranks companies on their likelihood....
What companies are most likely to short squeeze?
Although it is impossible to perfectly predict short squeezes, Fintel has developed a quantitative model that ranks companies on their likelihood....
Does Fintel get it's short data from a single broker?
Fintel sources short interest data from official sources that provide broad coverage of the market. In the United States, these sources are the CBO...
How much stock did GameStop sell?
As of January 31, executives at BlackBerry and GameStop had sold more than $22 million in stock since January 1. There is no allegation of insider trading among BlackBerry executives, according to CBS News. Three BlackBerry executives sold nearly $1.7 million of the company's stock, with one of the executives, Chief Financial Officer Steve Rai, selling all of his shares in the company excepting unvested employee stock options.
Why did GameStop stock fall?
GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. On January 22, 2021, approximately 140 percent of GameStop's public float had been sold short, meaning some shorted shares had been re-lent and shorted again. Analysts at Goldman Sachs later noted that short interest exceeding 100 percent of a company's public had only occurred 15 times in the prior 10 years.
What happened to GameStop in 2021?
In January 2021, a short squeeze of the stock of the American video game retailer GameStop ( NYSE : GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares ...
How much does George Sherman own?
GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock dropped to $901 million on January 29.
Who owns GameStop?
However, investor Michael Burry, who had acquired a 3.3-percent stake in GameStop in 2019, criticized the short squeeze, stating that "there should be legal and regulatory repercussions", and adding "this is unnatural, insane, and dangerous".
What is gamma squeeze?
According to the Financial Times, a "gamma squeeze" also took place in addition to the short squeeze: as traders bet on the rise of stocks by purchasing call options, options sellers hedge their positions by purchasing the underlying stocks (here, GameStop and the related securities), thereby driving their prices even higher.
What happened to Robinhood?
A Robinhood customer filed a class-action lawsuit against the company on January 28 for halting trading on GameStop. The lawsuit, which was filed in the United States District Court for the Southern District of New York, claimed that Robinhood "purposefully, willfully, and knowingly removing the stock 'GME' from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market"; the lawsuit also accused Robinhood of "manipulating the open-market". Several other investors began using the app DoNotPay to automatically join the lawsuit.
GameStop: Not In The S&P 500 (But Would Be No. 369)
GameStop's prospects aren't great. It sports a middling 49 IBD Composite Rating. That means its chart and fundamentals only outperform 49% of all companies' And the company is seen losing money in fiscal 2022, ended in January 2022.
Reading The Message From GameStop Stock
The rally in GameStop is a signal on many levels. It's a reminder to investors to know how important it is to buy and sell at the right time.
Why is short selling important?
Short selling, however, has an important function in the stock market: helping to ensure things are accurately priced. One of the criticisms of the meme stock rally is that the stock price is completely divorced from its underlying financials.
What is short selling?
Short sellers, much maligned by Redditors and business leaders, bet that a stock’s price will go down. Essentially, they borrow stocks from brokers, sell them, and when the stock price falls, buy them at a lower price and return them to the broker, pocketing the difference.
What is short squeeze?
A so-called short squeeze means that not only do short sellers have to buy the stocks at a higher price than what they borrowed and sold them at, their buying them also ends up driving the stock price even higher. The meme stock short squeeze has hurt a number of short sellers. Hedge fund Melvin Capital sustained huge losses ...
Overview
Background
Short sellingis a finance practice in which an investor, known as the short-seller, borrows shares and immediately sells them, hoping to buy them back later ("covering") at a lower price, return the borrowed shares (plus interest) to the lender and profit off the difference. The practice carries an unlimited risk of losses, because there is no inherent limit to how high a stock's price can rise. …
Timeline
In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jonesmarket data, more than 175 million s…
Impact on involved entities
Short sellers who had bet against GameStop suffered large losses as a result of the short squeeze.
By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 …
Other affected assets
Apart from GameStop, many other heavily shorted securities (as well as securities with low short interest) saw increases in their prices:
Prices may be higher during extended-hours trading.
The shares of GME Resources, an Australian mining company with Australian Securities Exchange(ASX) symbol GME, increased more than 50 percent during intraday trading, closing with a 13.3-…
Aftermath
On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation. Yellen convened a meeting of financial regulators, including the heads of the U.S. Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, t…
Reactions
A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Representative Alexandria Ocasio-Cortez, Senator Ted Cruz, Representatives Ro Khanna, Ted Lieu, and Rashida Tlaib, Fox Business host Charles …
See also
• Cryptocurrency bubble – Speculative bubble regarding cryptocurrency prices
• Everything bubble
• Philip Falcone – businessman who performed a short squeeze in 2012
• Greater fool theory – Theory that the price of an object is determined by consumer demand