$AMC lol. Hedge funds have rolled over their short positions and now have an average short price above $60. Redditors have been buying shares on the assumption that they would cause a short squeeze. However they have become a standing joke in trading rooms around the world as fund managers shorted shares at ever increasing prices. One manager explained: “we can protect our positions and limit losses by selling options and other synthetics. But through this whole movement we have continued to short AMC even above $70. Every time the share price rises we short and roll our positions and make more money. These share buyers are being manipulated into thinking that they are causing harm to hedge funds but all they are doing is paying too much for a failing company. In the end we will take all of their money.
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