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Thursday, June 13, 2024

Interactive Brokers founder: Don’t short AMC, meme stocks — they can soar to ‘unimaginable highs’

  • Short sellers should "resist the temptation" to bet against meme stocks like AMC Entertainment, Interactive Brokers' Thomas Peterffy told CNBC on Monday.
  • "These prices can go to unimaginable highs before they settle down to a reasonable valuation," Peterffy said, warning that traders "may have to cover on the high point."
  • However, Peterffy said investors should not be long meme stocks either.

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