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ORTEX issues statements on unusual GME short interest data fluctuations

It is currently investigating the matter, and notes that SI for GME did not increase by tens of millions of shares as data had previously shown.

Morgan Shaver

October 28, 2022 10:45 AM

Jeff Roberson, Associated Press

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ORTEX has issued an official statement today in regards to recent, unusual data fluctuations with GameStop (GME) stock that had investors thinking short interest had doubled more than 60 percent. No other market data providers have reported this anomaly.

In its initial statement on Twitter, ORTEX noted that it was aware of how it was displaying a “massive spike in GameStop GME short interest” related to “an extremely large increase in Borrowed Shares.”

ORTEX went on to say that it is actively investigating the matter, before providing a longer statement on Reddit today with some added clarification noting that short interest “did not increase by tens of millions of shares.”

An update that we just posted from our new Reddit account u/ORTEX_official regarding today's #GameStop $GME data situation. pic.twitter.com/uIbQ4tck2A

— ORTEX (@ORTEX) October 28, 2022

ORTEX shared additional findings on Twitter earlier today, including how GameStop (GME) stock was not the only stock that was affected this past week, though it was “the most prominent stock that exhibited unusual data.”

ORTEX provided examples of other stocks that have shown “similar patterns of extreme increases of booked stock loans that subsequently disappear.” Among these are Mullen Automotive (MULN), Schlumberger Limited (SLB), Nio Inc. (NIO), Open Orphan PLC (CRO), GameStop (GME), Baker Hughes (BKR), and Intuitive Surgical (ISRG) stock.

This week has seen several stocks show similar patterns of extreme increases of booked stock loans that subsequently disappear: $MULN on Monday; $SLB on Tuesday; $NIO and $CRO on Wednesday; $GME, $BKR, and $ISRG on Thursday.

— ORTEX (@ORTEX) October 28, 2022

For GME stock specifically, the data that ORTEX was displaying was confusing for investors, particularly because short interest was shown as having declined to 20 percent from 220 percent in early 2021 without the accompanying volume ever shown by the SEC. At present, ORTEX is still investigating the matter and aims to “share more information as soon as feasible.”

While we wait to hear more from ORTEX on the strange data that was displayed for GameStop (GME) stock, we recommend brushing up on some of our previous coverage including the SEC issuing a report for GameStop (GME) in regards to what happened in January 2021, and how Internet Game and Lionsgate have teamed up on SAW game NFTs released to the GameStop NFT Marketplace.

Morgan Shaver

Senior Editor

Morgan is a writer from the frozen wastelands of Maine who enjoys metal music, kpop, horror, and indie games. They're also a Tetris fanatic who's fiercely competitive in games like Tetris 99... and all games in general. But mostly Tetris. You can follow Morgan on Twitter @Author_MShaver.