GameStop's Earnings Surprise Is Squeezing Short Sellers. AMC Stock Is Rising, Too.

GameStop GME +36.71% ‘s first profitable quarter since January 2021 sent the stock surging. The move is squeezing short sellers and lifting AMC Entertainment AMC +2.75% shares, too.

GameStop stock (ticker: GME) was up 41% at $24.91 in morning trading, paring some gains seen before the market opened. If the stock closed at that level, it would be GameStop’s’s largest percentage increase since March 25, 2021, when it rose 53%, according to Dow Jones Market Data.