Hi everyone, long time lurker here.
I keep seeing comments about shor
Exact short interest is beyond reach for most of us, but we can get a good estimate from services like Ortex. From my experience, they are usually within 10% of the exchange reported interest, and they’re a good ballpark for sentiment.
SO… what happened over the last few days:
|Date||Estimated short interest||Price high||SI movement|
|2-Feb||27.1M||158||99K (this is a big deal)|
The hedge funds cleared a lot of short interest from Jan 27-Jan 29. This caused $GME price to spike. They didn’t do it all at once, but instead did it slowly, so the price never hit rocket levels. Instead we saw a squeeze that looked more like rolling hills than a rocket. For those who were doing their DD, this was still a huge win.
This week, they’re playing a new game. They’re holding their short position relatively flat & even doubling down (see net SI *increase* yesterday).
I am not a financial advisor. This is my opinion.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.