Is GameStop still being shorted?
The dollar volume shorted in GME stock at the end of January 2021 was $4.1B and has since decline significantly. Today, about 24% of GameStop’s float remains collectively shorted by different investors. Most of them are likely still hedge funds but it remains unclear at what point a short position was initiated.
Did Ortex predict the GameStop squeeze?
As early as October 2020, we were predicting the possibility of a “short squeeze” on the stock as short sellers continued to build their positions despite a rapid increase in the share price.
What hedge funds are against GameStop?
This article is in your queue. Gabe Plotkin wasn’t sleeping. His bets against meme stocks such as GameStop Corp. were backfiring, and losses at his $12.5 billion hedge fund were mounting.
Did short sellers lose on GameStop?
For GameStop, he estimates about 7.9 million shares shorted, or 14% of shares available for trading, down by about a million shares over the last week. Based on those numbers, short sellers were down $139.8 million on Tuesday, bringing year-to-date losses to $6.32 billion.
Who shorted GameStop?
Melvin Capital
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.
Is the Moass possible?
The recipe for a MOASS This is only possible in the very short term and due to technical gaps in trading, as transactions take days to clear the system.
What is the biggest short squeeze ever?
In one of the biggest short squeezes of all time, automaker Volkswagen became “the world’s priciest firm” over the course of a single trading day. Just before this massive spike, Volkswagen was widely believed to be an independently owned entity.
Did hedge funds really lose on GameStop?
A London-based hedge fund that took on heavy losses betting against GameStop in January has closed its doors, the Financial Times reported Tuesday, becoming one of the first casualties of retail traders’ piling into unpopular or heavily-shorted “meme stocks” that saw some financial mainstays lose billions.
How much did shorts lose on GameStop?
GameStop, AMC Short Sellers Lose More Than $10 Billion As Year Ends.
Was the GameStop stock illegal?
The Securities and Exchange Commission charged two traders with engaging in illegal so-called wash trading of meme stocks, including GameStop Inc., in an alleged scheme that netted them hundreds of thousands of dollars in ill-gotten rebates from a number of stock brokers.
Why did Melvin short GameStop?
He said Melvin covered its GameStop short “because something unprecedented was happening” and took losses on other positions that were being written about on social media.