Business & Investment

GameStop short squeeze loss $ 12.5 billion YTD

© Reuters.File Photo: People Enter GameStop Store During “Black Friday” Sale at Carle Place, NY

London (Reuters)-A short stake in GameStop (NYSE :), a video game retailer at the heart of the ongoing retail frenzy, cost a total of $ 12.5 billion in hedge funds in January, financial analysis said. Data from company Ortex showed on Monday.

Losses were piled up on GameStop and incurred by small investors who were forced to push up stocks and buy back to many hedge funds to cover the losses. GameStop’s share has increased by 1600% year-to-date.

According to Ortex data, as of Friday, $ 5.9 billion worth of GameStop shares were on loan, which is 49% of the total free float.

In Europe, short sellers lost $ 28 million in bets on Cineworld. Almost 24% of free floats are rented.

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GameStop short squeeze loss $ 12.5 billion YTD–ortex-data-2405342 GameStop short squeeze loss $ 12.5 billion YTD

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