AMC leaves short sellers in lurch with 20% surge in premarket trades Friday
Shares of movie-chain operator AMC Entertainment AMC, +35.58% climbed 20% in premarket trading, after jumping 36% on Thursday, and more than doubled over the last four days.
On Twitter, financial analytics group Ortex said new losses generated for short sellers of the meme stock were"up to $500 million in the pre-market alone. Total losses in $AMC this week are $1.75 bilion so far. Retail investors on social media fueled the rise of AMC earlier in the year. Videogames retailer GameStop GME, +4.77%, also a popular meme stock this year, was up 2.7% in premarket.
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