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

Published 05/18/2021, 07:07 AM
Updated 05/18/2021, 08:06 AM
© 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: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%.

© 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

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)

Latest comments

If HF covered the shorts in January when they lost 10 billions, why are they shorting again the same stocks ??
I dont think they all legally covered & i dont think they ever thought the apes would keep holding. Im sure they probably bought as much real valued stock as they could & are trying to cut some losses that way as well.
I dont think they all legally covered & i dont think they ever thought the apes would keep holding. Im sure they probably bought as much real valued stock as they could & are trying to cut some losses that way as well.
I dont think they all legally covered and I dont think they ever thought the apes would keep holding. Im sure they probably bought as much real valued stock as they could and are trying to cut some losses that way as well.
Short like Michael burry
Short like Michael burry.
Shorts are greedy.
lol
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