Gamestop Short Sellers Losing Billions: Report

On January 26th, S3 Partners reported that GameStop (NYSE:GME) short-sellers were down around $5 billion. In just a few days, that amount may have grown a bit larger.

According to the blog post by S3:

“GME short interest is $5.51 billion; 71.79 million shares shorted; 139.57% SI % Float; 58.26% S3 SI % Float; 31% stock borrow fee on existing shorts and new shorts are paying over 80% fee.”

That was then, this is now.

Author Ihor Dusaniwsky, Managing Director of Predictive Analytics at S3, continues to provide updates on GME via Twitter. Earlier today, he tweeted that GME short interest now stands at around $11  billion.

 

While the Redditors may be winning the GME trade for now there is no telling how they will do tomorrow. Or perhaps, even more interesting – which stock will become the next banner target?

Dusaniwsky may also provide some insight into why shares in Apple (NASDAQ:AAPL) are performing. Apple blew the door off of earnings on Wednesday crushing all expectations. Following the earnings announcement shares have tanked. Perhaps this is because certain funds are having to shore up their books by selling shares in more solid companies.

 

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