GameStop Falls 22% After Bitcoin Announcement and Spike in Short Selling
GameStop (NYSE:GME) dropped 22% on March 27 after revealing plans to invest in Bitcoin (BTC-USD), triggering a surge in short selling and activating a short sale restriction on the New York Stock Exchange. The stock had briefly risen 12% after the announcement but reversed course as short volume jumped 234%, totaling nearly 31 million sharesits…