While shorts are exiting their positions and calling a selloff, previously $200 was a sticking point and I think you can expect that to continue, as retail investors around America wake up today and start buying in to GME at the attractive price it's now sitting at.
I expected less of a dip but the short interest dropping to 50% has had a significant effect, as has the rise of AMC today in comparison. If we see AMC get shorted, expect GME to move in countertrend as investors flock back to GME for their "store of value" bet against institutions.
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I did exit this a while ago, but it's fun that GME has managed to retrace to these key levels again. Watch closely!
You are quoting 2 different statistics. One is the traditional SI% Float which has been at 130% and the statistic everyone is talking about. s3 partners calculates SI% float differently, for good reason, which is currently at 55%. when the statistic is converted to the traditional SI% Float it is 112% showing it has not dropped as much as everyone is claiming, this also explains how the numbers make no sense as it would be impossible for a decrease like that to happen in a day. You can check s3's twitter, they clarified this.
ItsJustMePal
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Still worth holding both GME and AMC in my opinion
@skadooshsky, Google the short interest, s3 announced it's down from ~130% of the float to 50%. Still very high but not near the astronomical figures from before. I'm still long GME.