GameStop Corporation's stock is experiencing a decline today, with discussions on Reddit highlighting several speculative factors. One of the key topics is the new SEC rule requiring managers with substantial short positions to file Form SHO monthly, starting January 2, 2025. Some Reddit users express skepticism about the rule's effectiveness, especially if short interest can be obscured through swaps. A user commented, "But if they can hide their short interest using swaps, which is widely speculated with GME, then what good is this rule??" This sentiment reflects broader concerns about transparency and potential market manipulation.
Additionally, there are rumors circulating about possible federal investigations into naked shorting, which could be contributing to the uncertainty surrounding the stock. A Reddit user speculated, "There are rumors going around about the Feds wanting to arrest some managers for naked shorting." This speculation, coupled with the ongoing discussions about the SEC's new reporting requirements, is fueling a cautious atmosphere among investors.
GameStop's stock is currently priced at $31.18, down 0.51% from the previous close of $31.34. The stock opened at $31.84 and has reached a low of $31.18 so far today. Despite being less than an hour into the trading day, the stock has already seen a volume of 2,535,273 shares, which is 23.90% of its average daily volume of 10,609,256 shares, indicating a moderate level of trading activity this morning.