Gamestop, AMC short sellers sit on nearly $1 billion loss

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© Reuters. FILE PHOTO: A GameStop store is seen in the Jackson Heights neighborhood of New York City, New York, U.S. January 27, 2021. REUTERS/Nick Zieminski/File Photo

LONDON (Reuters) – Investors are estimated to have lost $930 million on their short positions in meme stocks GameStop (NYSE:) and AMC Entertainment (NYSE:) over the last five trading days, data from financial analytics firm Ortex showed on Tuesday.

Shares in GameStop, which was at the heart of the so-called “stonks” retail trading mania earlier this year, have risen by a third in the last one week, while shares in cinema operator AMC are up 39%.

Ortex said short interest in AMC is currently estimated to be 18.3% of freefloat and in GME it is estimated at 21.8% of freefloat.

Yesterday alone, short-sellers lost over $200 million each in both of those stocks, Ortex data shows. GameStop closed 13% higher at $180.6, the highest level since April 30.

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