Observations on Gamestop bet today.
After-hours GME price is now at $180, started the day at $325.
According to this article from February 1, 27.13 million shares are still in short position, which corresponds to a short interest of 8.82 billion.
According to this page, the short position on January 15 was 61.87 million shares, representing a short interest of 11.96 billion, at a price of $193 at that time.
So half of the short position has already been cleared, the price jumps upwards in the chart at the start of trading on January 27-29 are clearly visible.
On January 27, the price before the start of trading was about $150.
How can it be that the price from January 27 to today has risen by only 30$, when over 30 million shares were bought to offset short positions and a huge hype is going on on Reddit?
Did big investors sell their long positions, did small investors who got in before January 27 take their profits?
What do you think?
I am not a trader and this is not financial advice.