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Wallstreetbets: How a Reddit revolt backed Gamestop against hedge funds

For once, Main Street is beating Wall Street.
In a matter of weeks, two hedge-fund legends – Steve Cohen and Dan Sundheim – have suffered bruising losses as amateur traders banded together to take on some of the world’s most sophisticated investors. In Mr Cohen’s case, he and Ken Griffin ended up rushing to the aid of a third, Gabe Plotkin, whose firm was getting beaten down.
Driven by the frenzied trading in GameStop and other stocks that hedge funds have bet against, the losses suffered over the past few days would rank among the worst in some of these money managers’ storied careers. ....

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Wallstreetbets: How a Redditor revolt propelled a game reseller and squeezed hedge funds

Retail traders caused the stock of the US video game retailer to surge and burned hedge funds that had sold the stocks short ....

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Main Street beats Wall Street: Hedge-fund titans lose billions to amateur Reddit traders running amok

Two hedge-fund legends Steve Cohen and Dan Sundheim have suffered bruising losses as amateur traders banded together to take on some of the world’s most sophisticated investors.
Their assailants are a collection of traders using Reddit’s wallstreetbets thread to coordinate their attacks, which seem to be focused on stocks known for being held short by hedge funds.
The struggles at some of the biggest hedge funds may have contributed to Wednesday’s 2.6% drop in the S&P 500, its worst decline since October
For once, Main Street is beating Wall Street.
In a matter of weeks, two hedge-fund legends Steve Cohen and Dan Sundheim have suffered bruising losses as amateur traders banded together to take on some of the world’s most sophisticated investors. In Cohen’s case, he and Ken Griffin ended up rushing to the aid of a third, Gabe Plotkin, whose firm was getting beaten down. ....

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