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GameStop stock soars more than 60% in apparent short squeeze, but analyst points to another reason – MarketWatch

‘A long-buying tsunami … is the primary factor for the price move,’ short-selling expert from S3 says

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GameStop Corp.
GME,
+57.34%
shares soared Wednesday in an apparent short squeeze, but one analyst who specializes in information on short selling doesnt think thats the case. GameStop shares surged more than 60% Wednesday which would be its largest one-day percentage gain ever, according to Dow Jones data more than a week after short interest on the videogame retailers stock exceeded the number of shares outstanding. At last check, more than 125 million shares had traded hands in the days session,…

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