S3 Partners CEO Says GME Stock May Squeeze Again
S3 Partners CEO Bob Sloan said in an interview with Yahoo Finance that if GME stock goes above $30, “you could see something parabolic”.
Yahoo Finance asks the CEO if there is enough short activity or short volume in GameStop’s float to cause something at scale like what we saw in the beginning of 2021.
Bob Sloan says that if you look at GME, there is still one to two billion short on the stock.
He then warns that if the stock goes past $30, it’s very likely we see some massive upside.
Will GME Stock Squeeze in 2022?
S3 Partners CEO Bob Sloan says there’s a great probability of GME Stock going parabolic if it hits $30 per share due to the massive amount of short activity currently present.
S3 Partners provides data and predictive analytics.
The company also provides accurate and real-time short interest; logging how much is being borrowed or loaned in a float.
The high short interest in GameStop is what caused GME stock to skyrocket in late January of 2021.
Short sellers were forced to close their positions in GME stock when retail investors were able to push the stock price up as a collective.
The short covering further fueled the momentum and GameStop shares flew to nearly $400 per share.
AMC Entertainment had a similar occurrence when shares jumped from $2 per share to $20 per share.
In June, AMC rose again from $14 per share to its current all-time high of $72 per share.
Retail investors holding both stocks have been buying and holding for over a year now, anticipating even larger moves.
Related: AMC's Social Media Move is A Sleeping Giant
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Will GameStop squeeze again?
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