Coinbase and Others Are Set for a GameStop Moment in Crypto Stock Short Squeeze | Barron’s
There is a short squeeze going on in beaten-down stocks across the cryptocurrency sector. All it takes is a quick look at the likes of
to see that ‘
-style’ dynamics are at work.
(ticker: COIN) spiked 24% on Thursday, bringing its gains across the past five days to 54% and its year-to-date rise above 140%. Crypto banker Silvergate (SI) jumped 29% on Thursday and is up 60% since the end of last week. Other stocks exposed to digital assets, such as Bitcoin miner
(MSTR)—a software group with huge crypto holdings—show similar price action.