It's not that people are refusing to sell. There are plenty of people buying and selling. Just check out the historical volume of stock trades in the past few days. Average was 10 million a day and in the last week it is 100 million. https://finance.yahoo.com/quote/GME/history?p=GME
The problems is the price is so high that the short sellers don't have enough money to buy back the stock even if they wanted to.
A stock shorted at $11 then goes to $350 is a 3200% loss for the hedge fund (if I got my equation right)
It's not that people are refusing to sell. There are plenty of people buying and selling. Just check out the historical volume of stock trades in the past few days. Average was 10 million a day and in the last week it is 100 million. https://finance.yahoo.com/quote/GME/history?p=GME
The problems is the price is so high that the short sellers don't have enough money to buy back the stock even if they wanted to.
A stock shorted at $11 then goes to $350 is a 3200% loss for the hedge fund (if I got my equation right)