Game Over for GameStop Shorts
Equilend Borrow Quantity in GameStop (GME) had climbed to a peak of 91.6 million shares on September 2nd before plummeting to 40.9 million shares just one week later, on September 9th, a drop of 55% that drove Equilend Utilization down to 28%. That decline was visible in Equilend data more than two weeks before FINRA’s short interest report, covering the September 15th settlement date, was published on September 24th, showing GME’s public short interest falling from 57 million to 39 million shares.
The stock turnaround at GameStop was triggered by the company’s Q2 update on September 8th, when management lifted EBITDA guidance, followed by CEO Ryan Cohen’s $20 million share purchase and a deal to retire $1.4 billion of convertible notes, sending the stock from the high teens to above $25. Equilend data had already flagged the shift, as the market positioned in anticipation of these quarterly results before they landed.
With GameStop’s turnaround still in its early stages, subscribe to Equilend’s real-time data to catch every shift in short interest as the next chapter plays out.
Track these signals intraday with Equilend Data & Insights.
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Bloomberg Terminal users can subscribe to Equilend’s exclusive short selling and financing data by entering terminal shortcut APPS ORBISA or clicking the following link: https://on.equilend.com/bloomberg-terminal-page.
