Today's rally in GameStop has already resulted in losses of $1 billion for short sellers, S3 Partners showed Monday.
GameStop's gains have been triggered by a post by Keith Gill, the trader known as "Roaring Kitty," hinting at his return to active trading. In addition, the rally has triggered gains in other popular stocks on Reddit, including AMC Entertainment Holdings, Trump Media & Technology, BlackBerry, and ALTC Acquisition Corp.
"Expect short covering in this stock as it already had a 100/100 squeeze score prior to today's trading," Ihor Dusaniwsky, S3 managing director of predictive analytics, stated.
