Stock Market News

Carl Icahn holds short position in GameStop – Bloomberg News

2022.11.21 19:19



© Reuters.

(Reuters) – Activist investor Carl Icahn has a sizeable short position in video game retailer GameStop Corp (NYSE:), Bloomberg News reported on Monday, citing sources familiar with the matter.

GameStop, which is among the so-called “meme stocks”, was popular among retail investors during the pandemic in what came to be known as the “short squeeze”.

Short-sellers borrow shares and sell them, seeking to profit by returning them after buying the stock back at a lower price.

Icahn began shorting the stock around January 2021, the report added but did not provide details of the size of Icahn’s position.

The stock, which has lost nearly a third of its value so far this year, fell about 9% on Monday.

Short interest in GameStop’s stock is very high, with 17.53% of the company’s outstanding shares shorted as of Oct. 31, according to Refinitiv data. In comparison, short interests in Apple Inc (NASDAQ:), the world’s largest public company, and Tesla (NASDAQ:) Inc, the world’s most valuable auto maker, are 0.65% and is 2.43%, respectively, according to Refinitiv data.

In September, GameStop announced a partnership with Sam Bankman-Fried’s FTX US to increase its presence in the cryptocurrency space even as analysts said the partnership was “unlikely to yield meaningful revenue or profit”.

Earlier this month, FTX filed for bankruptcy protection in the U.S. in the biggest crypto industry blow up till date.

The retailer executed a four-for-one stock split this year, the stock rose a split-adjusted high of over $120 in Jan. 2021.

Icahn Enterprises did not immediately respond to a Reuters request for comment.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 96,692.91 1.22%
ethereum
Ethereum (ETH) $ 3,334.73 2.41%
tether
Tether (USDT) $ 1.00 0.07%
solana
Solana (SOL) $ 250.08 2.20%
bnb
BNB (BNB) $ 655.72 0.55%
xrp
XRP (XRP) $ 1.41 4.43%
dogecoin
Dogecoin (DOGE) $ 0.423836 0.92%
usd-coin
USDC (USDC) $ 0.999711 0.06%
cardano
Cardano (ADA) $ 1.00 5.45%
staked-ether
Lido Staked Ether (STETH) $ 3,334.23 2.52%
tron
TRON (TRX) $ 0.206303 2.56%
avalanche-2
Avalanche (AVAX) $ 40.62 2.10%
stellar
Stellar (XLM) $ 0.550707 12.20%
the-open-network
Toncoin (TON) $ 6.09 3.04%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 2.46%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,948.26 2.44%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,449.84 1.24%
polkadot
Polkadot (DOT) $ 8.69 1.39%
chainlink
Chainlink (LINK) $ 17.43 0.22%
bitcoin-cash
Bitcoin Cash (BCH) $ 506.85 1.00%
weth
WETH (WETH) $ 3,334.65 2.46%
sui
Sui (SUI) $ 3.35 2.52%
pepe
Pepe (PEPE) $ 0.00002 3.10%
near
NEAR Protocol (NEAR) $ 6.58 6.95%
leo-token
LEO Token (LEO) $ 8.47 1.37%
litecoin
Litecoin (LTC) $ 96.33 2.61%
aptos
Aptos (APT) $ 12.13 3.95%
uniswap
Uniswap (UNI) $ 10.63 1.10%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,509.92 2.35%
hedera-hashgraph
Hedera (HBAR) $ 0.144271 5.58%
internet-computer
Internet Computer (ICP) $ 11.22 0.01%
usds
USDS (USDS) $ 1.00 0.12%
crypto-com-chain
Cronos (CRO) $ 0.187491 6.23%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.552932 3.21%
ethereum-classic
Ethereum Classic (ETC) $ 28.27 4.76%
render-token
Render (RENDER) $ 7.86 1.76%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.49 5.52%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.09%
kaspa
Kaspa (KAS) $ 0.151191 1.56%
bittensor
Bittensor (TAO) $ 507.46 1.19%
bonk
Bonk (BONK) $ 0.000047 0.42%
vechain
VeChain (VET) $ 0.04308 3.72%
whitebit
WhiteBIT Coin (WBT) $ 24.24 2.08%
dai
Dai (DAI) $ 0.999741 0.02%
arbitrum
Arbitrum (ARB) $ 0.832779 3.96%
celestia
Celestia (TIA) $ 7.82 7.38%
filecoin
Filecoin (FIL) $ 5.56 0.58%
cosmos
Cosmos Hub (ATOM) $ 8.46 2.86%
mantra-dao
MANTRA (OM) $ 3.63 2.59%
okb
OKB (OKB) $ 53.51 3.96%