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GameStop short squeeze is 'scary,' says Douglas C. Lane's Sarat Sethi

GameStop shares were up another 70% in the premarket Wednesday but off their highs of the day after CNBC learned Melvin Capital, the hedge fund targeted by the retail investing crowd on Reddit had sold out of its short position. Sarat Sethi, managing partner at Douglas C. Lane, joined "Squawk Box" on Wednesday to discuss.
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