RE: Wish you were here?1 Feb 2021 16:42
Hi Robin292, sorry for my delay. All well sofar so good. However, this is definitely testing the world of shorters at their game. Worse day to come for them rather than for us small pi.
Take care. NoFear
GameStop short – squeeze losses at $12.5 bln YTD – Ortex data - 1 February 2021 15:46 Gmt
LONDON, Feb 1 (Reuters) – Shorting shares in GameStop, the video game retailer at the centre of the ongoing retail trading frenzy, cost hedge funds a total $12.5 billion over January, data from financial analytics firm Ortex showed on Monday.
The losses were inflicted by small-time investors who piled into GameStop , pushing up the shares and forcing many hedge funds to buy them back to cover losses. GameStop shares are up 1600% year-to-date.
Ortex data showed $5.9 billion worth of GameStop shares were out on loan as of Friday or 49% of the total freefloat.
In Europe, short-sellers booked $28 million loss on their bets against Cineworld . Almost 24% of its freefloat is on loan.
(Reporting by Sujata Rao; editing by Thyagaraju Adinarayan) thomsonreuters[.] com