The post GameStop stocks hit restrictions on NYSE after short volume rockets 234% appeared on BitcoinEthereumNews.com.

The New York Stock Exchange (NYSE) has imposed a Short Sale Restriction (SSR) on GameStop after volume spiked to levels reminiscent of GameStop’s famous 2021 short squeeze. GameStop (GME) short sales volume — the total number of shares sold short within a specific time frame — rose 234% over 24 hours, reaching 30.85 million shares sold on March 27, according to TradingView data.  The SSR kicks in when a stock drops over 10% from the previous day’s closing price. GameStop’s stock fell 22% over the trading day, wiping out its 12% gain from the Bitcoin announcement and then some, according to Google Finance data. At the time of publication, GME was trading at $22.09. GameStop shorts volume near 2021 short squeeze levels The rule is applied for the rest of the trading day and the following trading day. Malone Wealth president and CEO Kevin Malone said in a March 27 X post that “GameStop traded 50x more shares today than last Thursday. Not statistically possible without naked short-selling.” GameStop’s short sale volume reached 30.88 million on March 27. Source: TradingView The number is close to the levels reached in January 2021 when GameStop stocks famously went meteoric after a “short squeeze” of the stock, causing significant losses for hedge funds and other short sellers while some retail traders made significant returns. The highest point reached during that month was 33.26 million shares on Jan. 19. GameStop Bitcoin buy is “dot-comish” GameStop did not specify how much Bitcoin it plans to purchase, but after the markets closed on March 26, the firm announced a $1.3 billion convertible notes offering. However, some analysts and commentators have questioned GameStop’s plan to start purchasing Bitcoin. Speaking to Yahoo Finance on March 27, Tastylive founder and CEO Tom Sosnoff said that GameStop’s decision to buy…

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Filed under: News - @ March 28, 2025 6:18 pm