GameStop's short-squeeze, in-part led by the WallStreetBets crowd, led to a more than 50% drawdown in multibillion-dollar hedge fund Melvin Capital. The surge in stocks with shaky fundamentals has led to several hedge fund blowups that were caught on the opposite side of the trade betting against the company in question. Following which stocks Reddit's WallStreetBets crowd is talking about paid off handsomely in 2021, as several have gone through epic rallies and seen heightened volatility.įrom GameStop to AMC Entertainment, the more than 11 million-member forum has driven the conversation in so-called meme stocks that have exploded higher amid overwhelming demand from retail investors.
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