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

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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…



Source cnbc.com

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