GameStop, AMC short-sellers lose $673 mn in a day as stocks surge

Investors betting against GameStop and AMC Entertainment lost around $673 million on Wednesday, according to financial analytics firm S3 Partners. This is because GameStop and AMC's stocks, which are popular among users of Reddit forum WallStreetBets, jumped over 16% and 19% respectively. The short-sellers of the two stocks have lost around $8.1 billion so far this year, S3 Partners said.