On the same day, however, GameStop announced that Ryan Cohen, a well-known investor who bought a 10% stake in the company last fall, had joined the board of directors, along with two of his allies. 11 report on its 2020 holiday sales results (total sales down 3.1% from 2019, for those counting). The company’s last communication with investors was a Jan.

Does GameStop itself have anything to do with this? In other words, the longer the folks at r/WallStreetBets hold onto their GameStop stock, the higher the price goes. They’re only going to be buying back their shorted shares which, since they are above 100%, there is no way to do that, unless institutions sell off everything they own into the open market.” There is no way that can get themselves out of it. “ shares that you, me, and own are a shorted share. “There is likely not an original GameStop-issued share left on the market,” the user wrote. This means that the number of “shorted shares” - that is, the shares loaned to investors that must be eventually returned - was actually greater than the number of shares available to trade. Last week, one of them realized that GameStop was in a “negative float” position. The “group of apes” in this situation is a chaotic group of investors organized under the r/WallStreetBets subreddit, which counts more than 2 million subscribers. Credit the group /0vyyg9lsnJ- Tashi Tsenkyap January 26, 2021

Reddit the big short