GameStop short sellers have already lost $1 billion from Monday's monster rally
Publishing timestamp: 2024-05-13 11:57:19
Summary
GameStop's jaw-dropping rally on Monday has caused $1 billion in losses for short sellers. The surge was triggered by "Roaring Kitty" and the meme stock frenzy involving individual investors targeting short sellers. Short sellers in GameStop have lost $1.43 billion in May alone. Other stocks like AMC and Reddit also saw significant increases. Short sellers are warned of a bumpy ride ahead.
Sentiment: MIXED
Keywords: business news, markets, stock markets, investment strategy, amc entertainment holdings inc, breaking news: markets, gamestop corp, reddit inc,