'Meme Stock' Shorts STILL haven't learned their Lesson

GameStop (GME) and AMC Entertainment (AMC) were at the epicenter of the reddit-driven short squeeze event in early 2021 – Cashtag chatter (and their rising share prices) show that “diamond handed” retail investors have not given up the fight. GME’s Cashtag Mentions have remained elevated since January, with daily volume several cresting above the 7-day moving average in the majority of trading days over the past month.

Exactly 1 week ago, we pointed out that AMC was not safe to short due to the ongoing influence of its devotees… It looks like some people didn’t get the memo, as shorts lost nearly a $1 billion yesterday. Gamestop shares are still ripping, up more than +35% since Monday.