- Market Makers don't fall under the same requirements as other market participants (e.g. broker dealers) and can create artificial short positions without having shares to borrow, and are allowed extra time to deliver them
- Synthetic short positions (e.g. by the means of options) do not have to be reported and FINRA is only now 'considering' asking to report it [1]
- Short positions by the means of shorting ETFs containing GME are reported as ETF SI (and XRT, by the way, has 700% SI)
There are many indicators that suggest the opposite (that short positions were not closed):
- Retail directly registered over 10% of available float (excl. insider shares) as of 3 months ago [2]
- GME still had spikes of failure-to-deliver in August, similar to original FTD & price spike [3]
- GME is IBKR's hottest short by value as of 1/27 [4]
This is not a financial advice, everyone does their own due diligence. Disclosure: I own directly registered shares of GME.
1 - https://www.finra.org/sites/default/files/2021-06/Regulatory...
2 - https://investor.gamestop.com/node/19571/html "As of October 30, 2021, 5.2 million shares of our Class A common stock were directly registered with our transfer agent, ComputerShare"
3 - https://stocksera.pythonanywhere.com/ticker/failure_to_deliv...
4 - https://www.tradersinsight.news/traders-insight/securities/s...