Investors shorting "meme stock" AMC Entertainment (AMC.N) are estimated to have lost about $488 million on Monday after a rally that sent the cinema operator's shares up more than 15%, data from financial analytics firm Ortex showed.
By contrast, AMC short-sellers suffered $1.2 billion in mark-to-market losses for the week to May 28, when small-time traders on online discussion groups sent the stock up about 116%, triggering a phenomenon known as a "short squeeze".
AMC shares were down 0.1% in premarket trading on Tuesday. The stock has surged more than 2,500% so far this year.
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Source: reuters.com
