Those including GameStock, AMC Entertainment and Beyondf Meat, to name a few, were often the target of hedge fund investors betting that their shares would continue to plummet in value.
GameStop is a bricks-and-mortar retailer of videogames, a business that is increasingly going digital, while AMC is being hammered by the COVID-19 pandemic due to social-distancing measures that have stymied attendance in major movie theaters. In either case, here are some of the most heavily shorted names this week, which also include Bed Bath & Beyond BBBY, +43.45%, Macerich Co. MAC, +15.01%, SunPower Corp SPWR, -2.93%, Macy’s Inc. M, +11.93% and Nikola Corp. NKLA, +11.47%“GameStop’s recent surge has decimated short seller’s [profit and losses],” wrote Ihor Dusaniwsky—the head of predictive analytics at financial technology and analytics firm S3 Partners, in emailed comments on Wednesday.
$tmbr has 80% float shorted! Hugeeee squeeze coming back to $12 range or more 📈📈