{"id":2538,"date":"2024-05-13T16:45:14","date_gmt":"2024-05-13T16:45:14","guid":{"rendered":"https:\/\/stoxpo.com\/?p=2538"},"modified":"2024-05-13T16:45:15","modified_gmt":"2024-05-13T16:45:15","slug":"gamestop-shorts-face-1-billion-loss-as-meme-stock-rally-defies-skeptics","status":"publish","type":"post","link":"https:\/\/stoxpo.com\/index.php\/2024\/05\/13\/gamestop-shorts-face-1-billion-loss-as-meme-stock-rally-defies-skeptics\/","title":{"rendered":"GameStop Shorts Face $1 Billion Loss as Meme Stock Rally Defies Skeptics"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">Shares Surge 65% in May, Trimming Short Sellers&#8217; Profits Amidst Volatile Trading<\/h4>\n\n\n\n<p>GameStop&#8217;s (GME) remarkable rally has dealt a severe blow to skeptics, with short-sellers staring at a staggering $1.4 billion in mark-to-market losses as the company&#8217;s shares nearly tripled this month. The meme-stock frenzy, reignited in May, witnessed shares soaring as much as 119% in a volatile trading session on Monday, prompting multiple halts.<\/p>\n\n\n\n<p>The Grapevine, Texas-based retailer saw its stock rise by 185% this month, marking a sharp turn in fortunes for those betting against it. Despite trimming gains to 65% by late morning, GameStop&#8217;s resilience has confounded critics.<\/p>\n\n\n\n<p>The resurgence of meme stocks, epitomized by GameStop, echoes the frenetic trading activity of 2021, where short-selling hedge funds suffered substantial losses. Gabe Plotkin&#8217;s Melvin Capital Management notably shuttered amidst the chaos.<\/p>\n\n\n\n<p>While short sellers enjoyed early success in 2022, reaping around $400 million in profits from January to April, the recent rally has erased those gains, underscoring the volatile nature of meme-stock trading.<\/p>\n\n\n\n<p>Although short interest remains high at around 24%, borrowing costs have surged, reaching over 10% annually, reflecting increased skepticism among investors. Despite lingering doubts, GameStop&#8217;s resilience suggests that the meme-stock phenomenon is far from over, posing challenges and opportunities for investors alike.<\/p>\n\n\n\n<p>You might like this article:<a href=\"https:\/\/stoxpo.com\/index.php\/2024\/05\/13\/gamestops-spectacular-surge-shares-spike-50-amid-renewed-retail-investor-interest\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">GameStop\u2019s Spectacular Surge: Shares Spike 50% Amid Renewed Retail Investor Interest<\/mark><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares Surge 65% in May, Trimming Short Sellers&#8217; Profits Amidst Volatile Trading GameStop&#8217;s (GME) remarkable rally has dealt a severe blow to skeptics, with short-sellers staring at a staggering $1.4 billion in mark-to-market losses as the company&#8217;s shares nearly tripled this month. The meme-stock frenzy, reignited in May, witnessed shares soaring as much as 119% [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1170,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"author","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"0","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[361,360],"tags":[421,445,416],"coauthors":[],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/2538"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=2538"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/2538\/revisions"}],"predecessor-version":[{"id":2539,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/2538\/revisions\/2539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/1170"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=2538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=2538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=2538"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=2538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}