EconomyInvestors lose $2.1 billion because of stocks meme

Investors lose $2.1 billion because of stocks meme

Investors who bet against the best-known meme stocks have lost about $2.1 billion this month after their value soared, causing a squeeze on short positions.

AMC Entertainment's 60% rally has pushed market value losses for short sellers to $868 million, data from S3 Partners shows. Similar bets against Bed Bath & Beyond and Game Stop, which were up 400% and 22%, respectively, in August, lost a combined $1.23 billion.

Recently, AMC Entertainment and GameStop have hit near five-month highs, while Bed Bath & Beyond rose for a sixth session on Wednesday.

All three stocks are likely to remain targets of short squeezes as share price gains attract new short sellers, Ihor Dusaniwski, managing director of predictive analytics at S3 Partners, said in an email. Bed Bath & Beyond has “officially” joined GameStop and AMC Entertainment “in the major short-strangling leagues.”

Bear bets against Bed Bath & Beyond have risen to 55% of the shares available for trading, according to data from S3. That compares to 23% of GameStop's shares and just under a fifth of AMC Entertainment's.

How would the elimination of daylight saving time affect the markets?

The elimination of summer time in Mexico does not affect the operations of the stock market, since the Stock Exchanges adjust their hours, opening and closing at the same time as the US Stock Exchange.

The good results of the third quarter lead to the BMV having its best...

The companies that stood out in the BMV were Grupo México and Grupo México Transportes, with increases of 10.88% and 11.76%; followed by Traxión, with 9.28%; Chedraui, 7.56%, and América Móvil, with 5.88%.

The Mexican stocks that have risen the most in the last 10 years

Lamosa, Gruma and GAP had the stocks that increased their value the most in the long term, meeting investors' expectations: high yield and low risk of loss.

And now what filters can help them? Snapchat shares plunge almost 30%

Shares of social media companies sank with Snapchat leading the decline, down nearly 30%.

Great news for Banorte: its shares rise for a good quarter

Banorte announced its withdrawal from the Banamex purchase process and the startup of its Bineo platform in the first quarter of 2023.