GameStop short-sellers lost $1.6 billion in a single day as Reddit traders rebelled against them – Business Insider Australia

• Short-sellers targeting GameStop have lost $US3.3 billion betting against the stock in 2020, as of last week’s market close, according to S3 Partners data.
• Losses totaled roughly $US1.6 billion on Friday alone as the stock rallied 51%.
• The video-game retailer has rocketed higher in recent weeks as Reddit traders drive bullish momentum to extraordinary levels.
• Watch GameStop trade live here.

Investors betting against GameStop and the army of bullish retail traders have already lost billions in 2021.
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