Reddit Traders Celebrate As Hedge Fund That Shorted Gamestop Forced To Shut Down

by unilad.co.uk posted 1month ago 3 views
A hedge fund that shorted GameStop stock has been forced to shut down, sparking applause from trading Redditors. In one of 2021’s most surreal chapters, Reddit’s army of dedicated traders played the market as payback for those who’d bet against the retailer. The result was cataclysmic, with GME’s price still sitting at a cool $220. For reference though, it previously saw rises of 9,000% at its most active. While shareholders and smaller investors made serious money, hedge fund managers and other big-ticket players lost millions.

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