Short Squeeze Goes To Moon And Back In A Day. Why Getty Images Dropped Double Digits Today

  • Getty Images Holdings, Inc GETY filed a prospectus with the SEC for a possible sale of 401 million Class A common stock plus warrants to buy up to 25 million Class A common stock.
  • On September 15, Getty shares traded higher despite company-specific news to justify the price action. It rose 25.7% to settle at $13.35.
  • Getty Images stock is a playground for the short-sellers. Temporary shot-squeeze in the stock led to a jump yesterday.
  • As of yesterday, GETY has 107.9% short interest, mainly because more shares were about to hit the market today.
  • As of September 12, data showed that 88.1% of the float short and a cost to borrow of 955.6% were among the highest for the week.
  • The shares jumped on September 7 as Getty renewed its partnership with, Inc AMZN, integrated into Amazon's Alexa services and products and its Fire TV software stack.
  • Price Action: GETY shares traded lower by 27% at $9.75 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsShort IdeasMoversTechTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!