Crispin Odey’s hedge fund shorts pandemic-hit cinema chain AMC Entertainment
Odey’s hedge fund has shorted pandemic-hit cinema chain AMC Entertainment
Crispin Odey’s hedge fund has shorted pandemic-hit cinema chain and popular ‘meme stock’ AMC Entertainment.
Odey Asset Management recently took the short position – which means it is betting that AMC’s share price will fall – as the City and Wall Street grow increasingly worried about the influence amateur investors are having on the value of big companies.
AMC has become a ‘meme’ investment this year alongside the likes of Gamestop – both of which saw their shares rocket after ordinary people coordinating online bought huge numbers of shares and drove up prices. Odey, 62, is known as a ‘disaster capitalist’ who cashes in on turmoil.