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AMC, GameStop short sellers make comeback as meme stocks buckle

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Bearish bets prove profitable

Shares of AMC Entertainment swung between gains and losses on Tuesday, after a sharp decline this month helped short sellers gain more than $1 billion on their bearish bets against the stock.

More recently, those stocks have tumbled, with AMC down 30% in the month to date and GameStop off 28%. The estimated short interest at AMC increased to 19% of its free float from 16% at the end of November, per Ortex data. GameStop short interest has shot up to 14% from 11% in the same period.

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AMC500K APESNOTLEAVING AMC and GME the biggest transfer of wealth in history

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