Bearish investors are ramping up bets against meme stocks GameStop Corp and AMC Entertainment Holdings Inc , spotlighting how short sellers have grown bolder during a broader market selloff that has pummeled risky post-pandemic favorites once beloved by retail traders.
, spotlighting how short sellers have grown bolder during a broader market selloff that has pummeled risky post-pandemic favorites once beloved by retail traders.
The meme stock craze erupted in early 2021, when an army of individual investors piled in to shares of GameStop, AMC and other once-unfashionable companies, contributing to eye-popping rallies in their shares and forcing hedge funds to unwind their bearish bets against them - sometimes after sustaining considerable losses.More recently, retail traders' speculative fervor appears to have cooled amid a broader market selloff fueled by worries over a hawkish Federal Reserve.
“Most of these bubbles start to slowly revert to fundamentals as professional investors regained confidence and bet against them,” said Giacomo Pierantoni, head of data at Vanda Research, which tracks retail buying.
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