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Hedge funds rethink tactics after $12-billion hit from meme stock army

The blow shows how individual investors are posing a big challenge to professional investors in the Wall Street equities market

©The Financial Times Limited 2020 Jun 25, 2021 / 12:53 PM IST
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Hedge funds rethink tactics after $12-billion hit from meme stock army

Source: Reuters

Laurence Fletcher in London and Madison Darbyshire in New York Hedge funds that bet on falling share prices are stepping up their efforts to spot the next GameStop after this year’s “meme stock” bonanza left the industry nursing billions of dollars of losses in just six months. Huge gains in the price of companies favoured by day traders who assemble on message boards such as Reddit caught out some short sellers badly in late January. In recent weeks, these stocks have...

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