Short sellers of American movie theater chain AMC Holdings Inc. have bled some $1.3 billion as retail traders continue to drive stocks higher, Bloomberg reported.
- Data from financial analytics firm S3 Partners reported that short sellers lost another $634 million after Thursday’s rally.
- AMC’s stock soared 36% on Thursday to mark the highest level since may 2017. This brought shares up 120% for the week.
- Retail investors have continued to dive into AMC which has consistently been among the most referenced stock on social trading platforms.
- AMC and Gamestop Corp., which recorded a similar performance earlier this year, both score 10 out of 10 on S3 Partners’ “Squeeze Score metric.”
- Data from S3 indicate that 20% of shares available for trading for both firms are held by short sellers.
AMC: NYSE is up 17.76%; while GME: NYSE is down 2.83%.