Dusaniwsky added that GameStops short interest is $1.92 billion, and that 63.2 million shares have been shorted.

We are seeing continued squeeze-related short covering due to the rebirth of the meme trade, he wrote.

AMC stock was trading more 37% higher Tuesday afternoon after it was also halted.

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Photo: Brendan McDermid (Reuters)

This article originally appeared onQuartz.

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