Wednesday, October 27, 2021

GameStop climbs 23% as short rally continues through day two

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GameStop climbed to 22.8% on Thursday as more short sellers closed positions and raced for the exit The company’s announcement on Monday that it would add activist members to its board of directors kicked off a rally that left shareholders cheering and crowding out shorts The extent to which short sellers were targeting GameStop likely increased the pressure. Short-term interest in GameStop stocks reached 135% on Jan.5, according to data from S3 Partners. The jump comes after the video game retailer posted a 57.4% gain on Wednesday, pushing stocks to their highest level since August 2016..

GameStop jumped 22.8% higher on Thursday as a record single-day gain ranked more short sellers.

The surge marks a fourth straight day of earnings for the games retailer after unveiling an update to its board of directors on Monday. GameStop has agreed with activist investor RC Ventures to add three new…

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  • According to the source GameStop climbs 23% as short rally continues through day two
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