To The Moon

$GameStop(GME)$ rises with short squeeze and higher earning per share of 16 cents 

Folks, we've got some big news in the stock market today. GameStop Corp (GME.N), the video game retailer that's been at the center of a whole lot of attention lately, just had its first profitable quarter in two years! And let me tell you, the bears are feeling the squeeze.

The meme-stock frenzy that's been sweeping the nation lately, driven by small investors coordinating on social media, has sent GME.N soaring nearly 41% today. And that's not all – other stocks popular among retail traders are rallying too.

Now, let me explain what's going on here. When short sellers bet against a stock and then demand for that stock rises, they start to panic and look to exit their positions. This creates a "short squeeze" that drives the stock price even higher. And that's exactly what's happening with GameStop right now.

According to analytics firm Ortex, short sellers betting against GameStop have lost a whopping $610 million since the start of the week. That's a lot of money, folks. And get this – about 24% of GameStop's publicly available shares are in short position.

But here's the good news for all you GameStop bulls out there. The company's lower cost structure has resulted in some strong profits in the fourth quarter, beating Wall Street estimates. Wedbush has even raised its price target on GameStop's shares to $16.50 from $15.30 after the results.

So, what's the bottom line? GameStop is back, baby! And if you're one of the lucky investors who got in early, you're sitting pretty right about now. Keep an eye on this one, folks – it's going to be a wild ride.

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