Steely Meme-Stock Short Sellers Stare Down $4.5 Billion Loss
- Wagers against AMC and GameStop racked up unrealized losses
- Short positions rise for ninth straight week: Goldman Sachs
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The capacity of short-sellers to withstand pain is being tested anew by day traders driving up the share prices of meme stocks like AMC Entertainment Holdings Inc.
Paper losses from the bearish wagers on 10 of the most-shorted U.S. shares amounted to $4.5 billion Wednesday, according to Peter Hillerberg, co-founder of analytics provider Ortex. That includes $2.75 billion in unrealized losses for AMC following the stock’s 95% surge, rising to nearly $4 billion after adding in GameStop Corp. and Bed Bath & Beyond Inc.