) rose as much as 118% in premarket trading Tuesday, adding to a rally Monday that sent shares of the video game retailer up 74%.
Ihor Dusaniwsky, managing director of S3 Partners, told Yahoo Finance on Monday that GameStop shorts were down over $1.3 billion in month-to-date losses in May following Monday's rally.In Colas' view, a trader short a stock rallying with this kind of aggression is left with only one option: "your only choice is to close out the position regardless of the price."
Warren Buffett's selling stocks like Apple as he sees trouble ahead — but he'll spend if markets crash: elite strategist
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