As the broader stock market has been on a tear for about a month, things are looking grim for investors with big short positions.
As the broader stock market has been on a tear for about a month, things are looking grim for investors with big short positions in stocks like AMC Entertainment Holdings Inc. and GameStop Inc., and one analyst has listed the “most squeezable” of those stocks.
Over the past month, the Dow Jones Industrial Average DJIA has gained 5.4%, the S&P 500 index SPX has gained 6%, and the tech-heavy Nasdaq Composite Index COMP has grown 7.1%. “In this case there is an AMC–[preferred stock] APE APE arbitrage trade that will be profitable if the conversion occurs soon because the high financing costs are eating into those expected profits every day, including weekends,” Dusaniwsky said.
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