The short position is still 113% of outstanding shares. People have been selling -a lot (130% down to 113%) and the short % is still over 100%. IOW, there are more short share ‘buyers’ needing to cover than there are long share owners’ shares for the shorts to purchase to cover their positions. IOW a net upward price momentum.
Just a matter of time and that.artificial bubble will burst.
It looks like there are a bunch of new shorts have replaced Melvin and Citron, at a much higher basis.
According to this guy, short interest is down 8 percent. That’s not much.
https://www.reuters.com/article/us-gamestop-stocks-shortinterest-idUKKBN29Y29P
A new set of greedy hedge funds has replace the last.
If we keep buying and push the price up, we can push them into big losses and margin calls as well !