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Investors who are short GameStop, AMC are out of their mind


CNBC’s Jim Cramer said Wednesday he’s not sure why any investors are still betting against GameStop and AMC Entertainment, two of the so-called meme stocks popular on Reddit’s WallStreetBets forum.

The “Mad Money” host made his comments following a session in which GameStop shares rose almost 16% Wednesday and AMC advanced 19%. The stocks are up 37% and more than 60%, respectively, this week alone as the speculative trading that first took Wall Street by storm in January resumed.

“Anyone shorting AMC or GameStop is out of their mind. … WallStreetBets is too powerful, and trying to bet against them right now is just giving them more ammo,” Cramer said.

Despite some optimism around a…


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