The Reddit folks have become a hot topic in the market recently, and the epic short-selling battle has not deterred the Air Force.
Although the U.S. retail game stocks GameStop Air Force has lost $19.75 billion so far, including a loss of nearly $8 billion on Friday, GameStop’s short position continues to be bloodied, and even new hedge funds have joined the ranks of the Air Force.
The latest data from S3 Partners on Friday (29) showed that GameStop’s short position is still temporarily third in U.S. stocks, with a size of $11.2 billion, behind tesla (TSLA-US) and Apple (AAPL-US).
GameStop shares and other heavily shorted stocks soared again on Friday after Robinhood announced it would allow limited buying of restricted stocks such as GameStop.
As of deadline, GameStop (GME-US) surged 53.44% at around 2 a.m. Taipei Time on Saturday. GameStop is up more than 400% this week and more than 1,600% this month.
Market participants believe that at some point, there are two factors for GameStop stock to stop climbing in the future, the first is is that most airmen raise the white flag to surrender and stop short covering or pledging, and then brokerage firms or U.S. regulators step in.
Typically, a short roll ends with a big sell-off, but there are buyers waiting in the wings, usually those covering shorts, which can provide temporary support for stocks that are closing out their positions, said CC Lagator, co-founder of Options AI.
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