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AMC short-sellers net $522m in August as meme stock tumbles

Shares of AMC Entertainment are down by more than 75% in August.

By Bilal Jafar
On 14 August, AMC stock tanked 35% on fears that approval would allow the firm to issue more shares to raise capital
On 14 August, AMC stock tanked 35% on fears that approval would allow the firm to issue more shares to raise capital Photo: Noam Galai / Contributor WireImage

AMC Entertainment short-sellers have made more than half a billion dollars betting against the meme stock in August.

Short-sellers have booked $522m in profits so far this month on the back of a 75% stock decline, according to financial analytics provider ORTEX.

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