TechFlow news — a new report from financial data firm S3 Partners shows short sellers have suffered over $2.6 billion in losses in less than three months. More than 50% of these losses stemmed from shorting Coinbase stock, while an additional 25% came from short positions in MicroStrategy shares.
Coinbase's stock price has surged 51% over the past month, reaching $143.63. MicroStrategy, which holds approximately $6.6 billion worth of Bitcoin, has seen its share price rise 82% since October, reaching $568.88.
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