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0.00181013676588905 0.00120675784392603 0.00321802091713604 0.00321802091713604 0.00824617860016098 0.00884955752212399 0.011061946902655 0.00603378921963001
Stock impact report

Avis Budget stock plunges 62% as short squeeze reverses [Yahoo! Finance]

GameStop Corporation (GME) 
Last gamestop corporation earnings: 3/26 04:06 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Before this week's reversal, shares had surged roughly 600% from late March lows, with the record closing price topping $713. The stock closed down 38% Wednesday, was down about 6% in premarket trading Thursday, and fell more than 40% on Thursday. The stock was last trading at about $417. Short sellers who had been betting against the stock stood to benefit from the reversal. S3 Partners data cited by Bloomberg showed that Wednesday's selloff generated $2.8 billion in gains for short sellers, effectively offsetting the $2.7 billion those positions had lost in the three prior trading days. S3 data also show that the proportion of the float held short climbed from 54% to 64% over the course of the rally. The rally was triggered after Pentwater Capital Management disclosed last month that it had built a large position in Avis. Bloomberg data indicate that SRS Investment Management controls more than 49% of the company, with Pentwater accounting for roughly another 20%. Wednesday's Show less Read more
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