Short Squeeze Sends GameStop Stock Surging. Again.
Video game retailer GameStop (NYSE: GME) has been on fire lately. The shares gained roughly 100% over a two-day period last week, following news that Chewy (NYSE: CHWY) founder and activist investor Ryan Cohen and two of his associates would join GameStop's board of directors. The short squeeze continued today, pushing GameStop shares up another 10%.
Noted activist short-seller Andrew Left of Citron Research contributed to the run-up today. Citron had posted on Twitter that it would present a livestream detailing five "reasons GameStop buyers at these levels are the suckers at this poker game." The event was originally booked for 11:30 a.m. EST on Wednesday, but was rescheduled so it didn't have to compete with President Joe Biden's inauguration. Then, the livestream event was unceremoniously canceled.
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Source Fool.com
