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GameStop shares jump again, but short sellers aren’t backing down

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GameStop is popping again after a wild session, pushing the stock back above $100, but short sellers betting against the brick-and-mortar video game retailer are nowhere near letting up.

Shares of GameStop jumped more than 90% to a record high of $147.63 on Tuesday. The stock turned sharply higher after Social Capital’s Chamath Palihapitiya said in a tweet that he bought GameStop call options betting the stock will go higher. Trading was halted multiple times due to volatility.

GameStop has rallied more than 400% in January alone as an army of retail investors marshaled against short sellers in online chat rooms, encouraging each other to pile on and keep pushing the stock higher. Short…



Source cnbc.com

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