SEC Data Show $359 Million of GameStop Shares Failed to Deliver

On Jan. 28, the day after GameStop Corp. mania hit its crescendo on the back of a short squeeze for the record books, about $359 million worth of shares were caught in limbo.

More than 1 million shares were deemed failed-to-deliver that day due either to buyers lacking cash to complete purchases or sellers not having the shares to settle trades, according to U.S. Securities and Exchange Commission data.

The SEC report, which covers trading from Jan. 15 through the end of the month, is just one more indication of the dislocation in the market for the video game ...