The New York Stock Exchange (NYSE) has imposed a Short Sale Restriction (SSR) on GameStop (GME) as the stock experiences a surge of 234% in short-selling activity.
GameStop's short sales volume soared by 234% in 24 hours, reaching 30.85 million shares sold short.
The NYSE SSR rule is triggered when a stock declines by more than 10% from its previous day's close. GameStop's stock plunged 22% during the trading session.
GameStop recently announced a $1.3 billion convertible notes offering and a Bitcoin investment plan, sparking both interest and skepticism among investors.