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


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 and AMC Entertainment 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. (This story corrects typo in second paragraph)

(Reporting by Thyagaraju Adinarayan and Sujata Rao)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

   

Next In Tech News

UK watchdog looking into Apple, Google mobile ecosystems
Foxconn invests $36 million in EV partnership with Gigasolar
‘Doug To The Rescue’: Drone pilot saves animals in global disaster zones
PlayStation’s ‘wishlist’ for Cyberpunk sparks CD Projekt rally
Facebook can’t dodge EU-wide privacy orders, top court rules
Japan's trade minister unapologetic about ministry's dealings with Toshiba
Notorious ‘Anonymous’ hacker nabbed in Mexico, deported to US
Facebook, big tech face EU blow in national data watchdogs ruling
Apple back in Washington spotlight over Trump-era subpoenas
Exclusive: India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies -sources

Stories You'll Enjoy


Vouchers