ORBISA ON GME

Orbisa insights observed increased securities lending activity for “Meme Stocks,” principally GameStop Corporation (GME), following a surge in retail trading volumes. Keith Gill (aka) “Roaring Kitty,” who played a pivotal role in spurring meme stock trading in 2021, returned to social media for the first time in over three years to promote a bullish case for GameStop. Orbisa observed a 6% week-on-week increase in the total number of shares borrowed as demand for lendable shares grew to 94%. Furthermore, Orbisa observed an indicative buy-side financing rate of 1,014bps, a week-on-week spike of 339%. Orbisa will continue to closely monitor developing market conditions.

Published May 14, 2024.