Most Shorted Stocks Are Crashing

Yesterday, when GME was still trading at $300, we warned traders that the squeeze was almost over because as calculated by S3 Partners, the short interest had collapsed from over 110% to 53%...

... and warned subs in our private Twitter feed to take cover.

For some reason, we got a lot of grief from the "diamond hands" crew for simply reporting the facts (and as we explained for those wondering, the most desperate shorts went so far as raiding the XRT ETF to obtain GME shares to cover), which are manifesting themselves vividly this morning, with GME crashing by more than half from when we warned yesterday and was the last trading at just $142...

 

... while the other top meme stock, AMC was down to $9 after rising as high as $18 on Monday.

There was no respite across the most-shorted sector, with virtually all of last week's most popular names tumbling including silver...

... as attention now seems to be shifting to biotechs where names like VXRT, DVAX, and BCRX sharply higher today.

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