GameStop (GME) experienced a decline today, closing at $31.34, down 2.09% from the previous close of $32.01. The stock opened at $32.06 and reached a high of $32.44 before dipping to a low of $31.11. The trading volume was 7,060,665, which is 67.07% of the average volume, indicating moderate trading activity.
Throughout the day, discussions on Reddit highlighted ongoing interest in GameStop's high short volume, with one user noting that "463 of the last 644 trading days" have seen short volumes above 50%. This persistent short interest continues to fuel speculation about potential short squeezes. Additionally, there was skepticism about the company's financial health, with concerns about its reliance on investor capital rather than customer revenue.
In the options market, financial giants made bearish moves on GameStop, with 37% of trades showing bearish tendencies. Notably, there were significant options trades detected, including a bearish call sweep with a strike price of $125.00 and a neutral put sweep with a strike price of $24.00. This activity suggests that big players are eyeing a price window from $24.0 to $125.0 for GameStop.
Despite these developments, some Reddit users expressed optimism, with one stating, "Yes, yes I think I will buy more $GME!" and another noting, "Last day to buy in low before new year." However, the overall sentiment was mixed, with concerns about the company's strategic moves and financial stability.