> From what I've read the short sellers had taken a short interest that exceeded 100% of the available GameStop shares.
When someone shorts a stock, it creates a new long position as well. The term is "short sell" because the borrowed shares are sold to someone else. The new buyer is also long.
Long interest is always greater than short interest for this reason. This is why short interest can be greater than 100%.
The facts didn't really matter in this pump, though. The running joke on Reddit was that no one was reading the "DD" anyway, just hopping on the bandwagon.
When someone shorts a stock, it creates a new long position as well. The term is "short sell" because the borrowed shares are sold to someone else. The new buyer is also long.
Long interest is always greater than short interest for this reason. This is why short interest can be greater than 100%.
The facts didn't really matter in this pump, though. The running joke on Reddit was that no one was reading the "DD" anyway, just hopping on the bandwagon.