Investors placing bets against AMC Entertainment Holdings Inc have lost as much as $1.3 billion this week, according to Bloomberg. The stock is up 120% this week and has been on a four-day bullish run squeezing short-sellers.
AMC jumped 36% on Thursday to hit a 4-year high as retail traders cheered gains against blood-bathed shorts
Thursday’s surge of AMC saw shorts lose another $634 million, taking losses to almost $2 billion this year.
Some shorts are covering their positions while others face massive losses similar to those of GameStop squeeze.
AMC stock is currently gaining. AMC: NYSE is up 15.32%
