Business
GameStop’s Reddit army changes the game for good – The Australian Financial Review
Finance’s top poker players have been joined at the table by a Reddit army of day traders, who are betting big and raking winnings from the masters of the universe….
And the collective market of day traders and cashed-up opportunists, hunted for heavily shorted stocks, pushing up their share prices. .
Goldman Sachs prime brokers told clients that Wednesday was the worst-ever day for long/short equity hedge funds, with some that are down between 20 per cent and 40 per cent so far this month.
The prime unit, which provides loans to hedge funds, had its largest day of unwinded bets since September 2016 as hedge funds retreated.
The consensus among my hedge fund…
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