Short sellers mostly held their ground as AMC shares soared

An AMC theatre is pictured in Times Square in New York City

(Reuters) – Bearish investors betting that AMC Entertainment Holdings would decline held on to their bets for the most part on Wednesday even as the stock rose as much as 127% to $72.62 during the trading session, according to the latest data from S3 Partners.

About 89.98 million shares in AMC were sold short by the end of Wednesday’s trading session compared with 90.87 million short interest at Tuesday’s close, according to Ihor Dusaniwsky, managing director of predictive analytics at S3.

AMC shares, which closed Wednesday’s session up 95% at $62.55, were last down 24% at $47.33 on Thursday.

(Reporting By Sinéad Carew; Editing by Chizu Nomiyama)