Short sellers may have doubled down on GME since the $300+ rally, evidenced by GVIP (hedge fund long bets ETF) dramatically outperforming the S&P 500 by 2-4% in recent weeks and a significant increase in short volume as a percentage of total trading volume since late December. The thesis suggests shorts are using proceeds from short sales to pump their favorite stocks while simultaneously increasing bearish positions, which combined with lower liquidity is driving recent price declines.