Investors are estimated to have lost $930 million on their short positions in meme stocks GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC) 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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