(Reuters) -Shares of GameStop and cinema operator AMC Entertainment rallied to their highest levels in months on Wednesday, with some market-watchers saying the recent surge was forcing bearish investors to unwind their bets against the video game retailer.
GameStop shares surged 15.8% to $242.56, around its highest level since mid-March, while AMC shares shot up 19.2% to $19.56, the highest since Jan. 27. CFRA on Wednesday raised its price target for AMC shares to $18 from $2.50.
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