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Short-sellers betting against AMC Entertainment Holdings Inc. were mauled this week as shares soared over 83% in volatile trading.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||48.00||-3.31||-6.45%|
Traders betting against the Leawood, Kansas-based movie-theater chain suffered a weekly mark-to-market loss of $2.07 billion, or 54%, as of midday on Friday in what is the worst week of 2021 for these investors.
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"We have seen AMC short covering this week, but by no means are we seeing a wholesale short squeeze in this stock at the moment," said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
Short-sellers have covered 796,000 shares, worth $41 million, over the last 30 days, according to S3 data. Still, short interest is $4.53 billion, or 88.2 million shares, which amounts to 17.65% of the float.
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The stock's yearly gain is now sitting at more than 2,159%.