- Short-sellers betting against retail favorite AMC lost $512 million on Monday, according to Reuters citing data from Ortex.
- The loss is massive, but it doesn’t come close to the $2.8 billion that short-sellers suffered at one point during an earlier rally for the theater operator.
- Data from MarketBeat shows that 22.72% of AMC shares are sold short.
Short-sellers betting against meme stock AMC Entertainment lost $512 million on Monday when the movie theater chain rallied 15%, according to Reuters, citing data from analytics firm Ortex.
AMC rose further in Tuesday’s session, jumping by as much as 13% to $64.14.
The loss is suffered by short sellers on Monday is massive, but it doesn’t come close to the $2.8 billion that short-sellers lost at one point in May when shares rallied by as much as 127% in a single day
The activity is reminiscent of the GameStop mania that caught Wall Street by storm early this year when Reddit traders coordinated online to snap up shares in companies with high short interest from Wall Street firms.