https://wccftech.com/gamestop-amc-short-sellers-lose-more-than-10-billion-as-year-ends/

Short sellers betting against GameStop Corporation and AMC Entertainment Holdings ended the month of October by rapidly extending their losses, despite making some rapid recoveries earlier. GameStop and AMC were pushed to the limelight earlier this year when retail traders united on the social media platform Reddit and collectively purchased the companies' shares in order to boost prices. This came after institutional investors placed bets against the companies, as they expected the share prices to fall due to weak fundamentals. Now, with the year coming to an end, the damage to the institutional camp appears to be permanent, as they show little signs of recovery.

Back in October, data from S3 Partners, LLC revealed that the GameStop and AMC short sellers had started to recover their losses at a rate of $20 million per day. The short sellers, whose losses had stood at $6.21 billion and $3.49 billion for GameStop and AMC, respectively by midday on October 1st, saw them drop to $6.16 billion and $3.44 billion in just five trading days.