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NEW YORK – The short-term stake in GameStop Corp, whose shares soared this week, is $ 11.2 billion, making it the third-most-valued stock, although the number of shares shorted has declined, the S3 Partners, analytics firm, said.
The video game store chain GameStop is the third largest value behind Tesla and Apple, said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
The number of GameStop shares that have fallen in the last 7 days has decreased by 8% to 57.83 million as some short sellers have covered their bets that the share would fall, Dusaniwsky said.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 325.00 | +131.40 | + 67.87% |
GOV’T STIMULUS CONTROL MUNICIPALITY GAMESTOP ON: GUNDLACH
GameStop shares rose more than 400% from early Friday this week, taking their market value to more than $ 23 billion. It was one of the most important stocks caught in a battle between retailers and major financial institutions.
While some short sellers covered their positions to stop losses, other ‘momentum shorts’ took positions and bet that ‘nothing goes to the moon forever’, Dusaniwsky said.
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“It was not a rally. It was a long buying opportunity, “Dusaniwsky said.
S3 said GameStop short sellers had already earned $ 19.75 billion early Friday.