GME’s latest Short Interest after Jan 22 EOD is 70.97M. Cost of borrowing also increased

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by nafizzaki

After Friday’s close, SI reached 70.97M from Jan 21’s SI of 70.46M. Institutional cost of borrowing also increased very slightly to 24.2%.

GME SI left to the rightmost column(exported from ORTEX data)

We know GME absolutely ripped in Friday due to gamma hedging. Some old shorts covering could have been the main reason behind the ignition switch but I am not very confident about that.

GME is already ripping in pre-market and I don’t know what’s triggering that. Maybe it’s retail euphoria.

Looks like we will continue to have gamma squeezes, tweets from Papa Cohen etc until shorts are forced to cover and close most of their shorts. I am changing my thesis. I thought we will see a slow TSLA-esque short-covering in GME. Looks like we are setting up for something much quicker.

Disclaimer: This is based on ORTEX’s best estimates. I am not a financial advisor. This is not investment advice. Invest in anything at your own risk.

 

 

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