(Reuters) - Short interest in GameStop Corp as a percentage of the company’s float has declined to an estimated 15% as of Wednesday, versus a peak of 141% the first week of 2021, according to data from analytics firm S3 Partners.
The number of shares of GameStop that are being shorted has declined since the company was in the middle of a battle in January between short sellers who were negative on the stock and retail traders who were bullish. The data comes a day after GameStop reported its earnings.
Short sellers borrow shares from brokers and then sell them into the market, with the agreement that they will buy the shares back and return them to the lender at an agreed upon time.
Reporting by Megan Davies; Editing by Chizu Nomiyama
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March 24, 2021 at 09:31PM
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Short interest in GameStop declined to 15% vs 141% at peak - S3 - Reuters
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