Last week, short sellers were playing with fire by betting against GameStop (NYSE:GME). High call volumes and low short float meant the meme stock could quickly become a massive short squeeze.
On Tuesday, GameStop shareholders scored another win: The company announced its first profit in two years.
Shares in the videogame retailer immediately jumped 20% in after-hours trading. By Wednesday, many options holders were booking 10X or more gains.
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