GameStop’s short sales volume hit its highest level in nine months amid doubts over its Bitcoin acquisition plans.
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 timeframe — 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.
