Yesterday, Gamestop popped up over 100% from $44.70 to close at $91.71. This morning, it is up another 63% to $150 per share in the pre-market.
WHAT IS GOING ON???
There appears to be rumble on Reddit about the fact that the shorts never truly exited their short position. Melvin claimed that they closed their short position, but as others are pointing out, there have been millions of shorts on ETFs containing mainly Gamestop as well.
What does this mean?
If the squeeze is indeed not yet completed, we could see another preposterous climb of the price today and in the days coming. Buckle up everyone, it looks like this is going to be another wild ride.