AMC short sellers lost $488 million after Monday's rally - Ortex

[June 15, 2021]  (Reuters) - Investors shorting "meme stock" AMC Entertainment are estimated to have lost about $488 million on Monday after a rally that sent the cinema operator's shares up more than 15%, data from financial analytics firm Ortex showed.

An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File Photo

By contrast, AMC short-sellers suffered $1.2 billion in mark-to-market losses for the week to May 28, when small-time traders on online discussion groups sent the stock up about 116%, triggering a phenomenon known as a "short squeeze".

AMC shares were down 0.1% in premarket trading on Tuesday. The stock has surged more than 2,500% so far this year.

(Reporting by Sagarika Jaisinghani in Bengaluru and Sujata Rao in London; Editing by Anil D'Silva)

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