GameStop Stocks Plummet! Short Volume Surges %234

Yigit Taha OZTURK — Fri, 28 Mar 2025 09:00:07 +0000

The New York Stock Exchange (NYSE) has imposed a Short Sale Restriction (SSR) on GameStop (GME) after its short sales volume surged by %234 in 24 hours, reaching 30.85 million shares. Under NYSE rules, SSR is applied when a stock drops more than %10 from the previous day’s closing price. GameStop shares fell %22, completely wiping out the %12 gain from its Bitcoin announcement.

Is Another GameStop Short Squeeze Coming?

GameStop‘s short sale volume is approaching 2021 short squeeze levels.

Kevin Malone, CEO of Malone Wealth, noted on X (Twitter):

“GameStop traded 50x more shares today than last Thursday. That’s statistically impossible without naked short-selling.”

In January 2021, GameStop stocks skyrocketed due to a short squeeze, causing massive losses for hedge funds while some retail traders made huge profits. The highest short volume during that time was 33.26 million shares on January 19, 2021.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

GameStop’s Bitcoin Purchase Feels Like “Dot-Com Hype”

GameStop has not disclosed how much Bitcoin it plans to purchase. However, on March 26, after market close, it announced a $1.3 billion convertible notes offering.

Tastylive CEO Tom Sosnoff told Yahoo Finance:

“It feels a little like the dot-com hype—just adding ‘.com’ to your name or buying Bitcoin with excess cash.”

Meanwhile, eToro U.S. investment analyst Bret Kenwell stated that investors are not confident in GameStop’s core business model.

GME 1-hour chart.

Keith Gill’s Comeback Holds the Record for Largest Short Sale Volume!

The biggest short-selling day in GameStop history was June 3, 2024, with 46.20 million shares sold. This surge came after Keith Gill (Roaring Kitty) revealed on June 2 that he had invested $180 million in GameStop stocks. Some analysts believe GameStop’s stock drop was caused by its convertible notes offering.

Han Akamatsu compared it to MicroStrategy in 2021:

“In 2021, MicroStrategy issued $1.05 billion in 0% convertible notes, and the stock initially dipped due to hedging shorts. But when Bitcoin surged, it exploded. GameStop is following the same blueprint.”

If GameStop or Bitcoin prices rise significantly, another short squeeze could be on the horizon!

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What is GME Coin?

Tanju Akbıyık — Sun, 08 Sep 2024 22:00:49 +0000

GME Coin has recently become a digital asset that has been frequently mentioned in the cryptocurrency world. As a result of the financial events related to GameStop (GME) shares, this coin, created by the community, has become popular especially on social media platforms such as Reddit. So, what is GME Coin and why is it attracting so much attention?

The Emergence of GME Coin

GME Coin is closely related to the “meme stock” events that have developed around GameStop shares. In 2021, GameStop shares gained great value with the investment moves organized by the WallStreetBets community on the Reddit platform. Following this event, GME Coin, a “meme coin” similar to GameStop shares, emerged in the cryptocurrency world.

What Does GME Coin Do?

Although GME Coin originally started as a meme coin, it has the potential to fund projects supported by the community and gain different functions in the crypto world. With GameStop’s digital transformation strategies and NFT (Non-Fungible Token) projects, GME Coin is expected to be a part of this ecosystem in the future. In addition, the community’s influence on the coin will determine the value of the project and its future use.

How to Buy GME Coin?

GME Coin is listed on various cryptocurrency exchanges. Users who want to buy this coin must first become a member of a cryptocurrency exchange and then trade on exchanges that support GME Coin. It is usually bought and sold in exchange for major cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH).

GME Coin Future

The future of GME Coin depends on the power of the community and GameStop’s digital strategies. GameStop’s entry into the NFT market provides an important clue about how digital assets will be used in the gaming world in the future. GME Coin can also become a part of this ecosystem and gain value especially in the gaming world.

Might interest you: What is IOST Coin?

GME Coin is a cryptocurrency inspired by GameStop shares and continues to grow rapidly with the support of the community. This coin, which attracts the attention of investors, stands out as both an investment tool and a potential asset that can be used in new projects in the digital world. However, as price volatility can be high in GME Coin, like other meme coins, it is important for investors to be careful and consider the risks.

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