Investing

Reddit trades besides GameStop also crater — AMC, silver take big hits

0


Besides GameStop, other popular short-squeeze targets among Reddit traders were taking big hits on Tuesday.

Shares of AMC Entertainment, which rallied nearly 300% last week from a major short squeeze, fell 41% on Tuesday. The iShares Silver Trust ETF, part of an attempted squeeze on the metal, was down 8%.

Reddit trades start to unwind

In other heavily shorted names that rallied last week, BlackBerry fell 21%, Express slipped 32.3%, Koss fell 42.7%, Naked Brand lost 35.9% and Nokia dropped 7.4%. Genius Brands was down 3.2% on Tuesday.

Many of the names came off their lows of the session after Robinhood announced that it was easing trading restrictions.

Short selling is a strategy in which…



Source cnbc.com

Some wealthy hospital donors received early COVID-19 vaccinations — those institutions have a wide variety of explanations

Previous article

What Wall Street can learn and must fix from the GameStop fiasco

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Investing