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There were 70MM shares of gamestop short around the beginning of the month: https://www.marketbeat.com/stocks/NYSE/GME/short-interest/ https://www.marketbeat.co
by SatvikBeri 6y ago
There were 70MM shares of gamestop short around the beginning of the month: https://www.marketbeat.com/stocks/NYSE/GME/short-interest/ https://www.marketbeat.com/stocks/NYSE/GME/short-interest/
Around 1BB shares of gamestop have been bought/sold over the last two weeks. So shorts covering represent at most 7% of the volume.
- hagy 6y agoI think it's disingenuous to compare those two numbers. The mass majority of that trading is alogos trading within short time spans, not entities entering or exiting long positions. This includes all the market makers that have to hedge options under the insane stock volatility by exiting and enter both short and long positions as the stock moves. It further includes every flavor of HFT that can potentially syphon some value from high volatility combined with momentum. This volume doesn't tell us anything about the actual change in stock held by various entities nor how easily 70MM shares could be obtained from entities.