Hedge fund Melvin Capital Management LP, which was at the heart of the GameStop Corp. (NYSE: GME) short squeeze frenzy earlier this year, closed out of all its public short positions in the first quarter.
Meme stocks such as GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc. (NYSE: AMC) may soon see another short squeeze, based on the social media chatter around both stocks, according to social-media tracker HypeEq
AMC Entertainment Holdings, Inc. (NYSE: AMC) may be about to give back some of its recent gains.
The stock has run into resistance around the $14 level. When it reached this level in March, the bears overpowered the bulls and forced the stock lower.
Gainers
AMC Entertainment Holdings, Inc. (NYSE: AMC) shares surged 23.7% to close at $12.77.
Moxian, Inc. (NASDAQ: MOXC) jumped 23.6% to close at $9.52.
U.S. indices traded higher Thursday as stocks rebound following a heavy sell-off earlier in the week. Stocks fell on Wednesday amid concerns of inflation and a rise in yields.
After recording huge losses following the GameStop Corp. (NYSE: GME) trading frenzy earlier this year, hedge funds are now looking beyond equities to focus on junk- and investment-grade rated bonds for short bets.