New York (CNN Business) Get your popcorn ready! It looks like the AMC stock surge sequel may be the feel good hit of the summer. AMC AMC Shares ofsoared about 36% Thursday as investors on the popular Reddit WallStreetBets board were once again touting the stock in an effort to hurt short sellers who have bet against the theater operator. Investors have seen this movie before: Short sellers borrow shares of a stock and sell it, with the hopes of buying it back at a lower price and pocketing the difference before returning the shares. But if good news — or in this case, a coordinated push to make the stock pop — causes shares to skyrocket, short sellers have no choice but to quickly buy back the stock or face gigantic losses.

Source: CNN May 27, 2021 20:15 UTC