Between January 12th and February 9th, the stock price exploded to nearly $350 per share (that’s multiplying another 17 (!) They bought the stock, thinking the stock price would increase further if GameStop’s financial results improved. GameStop stock price compared to Short Interest Rick Miller, Sensible Financial, YCharts data1) Some investors (short sellers) disagreed that GameStop’s competitive position had improved. They sold GameStop stock short. In the graph above, Short Interest (the percentage of shares outstanding sold short) in GameStop stock declined from 89% (!)

Source: Forbes February 19, 2021 23:04 UTC