AMC, GameStop short sellers make comeback as meme stocks buckle
Information about AMC, GameStop short sellers make comeback as meme stocks buckle
Kevin David Scam or Legit
By Medha Singh
(Reuters) – Shares of AMC Entertainment swung between gains and losses on Tuesday after a sharp decline this month helped short sellers gain more than $1 billion on their bearish bets against the stock.
The theater chain’s shares were up 1.7% at $23.65 after falling as much as 10.5% to a new 7-month low earlier in the session. Shares of video game retailer GameStop, which have also tumbled in recent days, were up about 3% at $140.39.
Both companies were at the heart of a meme stock phenomenon earlier this year, when individual investors coordinating on online message boards helped fuel stunning rallies that cost short sellers billions of dollars.
More recently, those stocks have tumbled, with AMC …