ORBISA ON GME PART 3

Part three of our Orbisa Take Notes on GME dives into the rollercoaster ride for GameStop (GME) which rumbled along as its share price rocketed on Monday. The swing followed a Reddit post by “Roaring Kitty,” where the influencer revealed he had bought $116 million worth of the stock. While loan balances and financing costs had fallen precipitously in the preceding two weeks, it seems that the strong retail sentiment may have brought shorts back to the table. As of Tuesday, Orbisa observed a 21% day-over-day increase in the total number of shares borrowed and a 113% day-over-day increase in financing cost. 

Published June 5, 2024.