I highly doubt Gamestop will sell off enough shares to cover the shorts, the whole situation is working very well for them. It makes sense for them to sell off some to help position themselves in stronger stead for the future though, seems like a win-win for them. I'm not an expert by any means.
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At current prices, that's roughly $600 million that the shorts need to absorb if they want to squeeze. Definitely possible given some of the hedge funds out there. Good point about GameStop wanting to sell off more in the future.
That is true, it's unfathomable how much capital is floating around at that level. I can't imagine them having any loyalties amongst each other though, they'd much rather tear the whole building down instead of compromising. It's going to be an interesting year watching it all unfold.