Wall Street short-sellers lose $5 billion to Redditors over GameStop
Shortpedia
Content Team
Image Credit: yahoo
Short-selling video game retailer GameStop's stock has cost investors and hedge funds $5 billion in losses (once you apply some fancy financial calculations) in 2021. On Tuesday alone, losses totaled $867 million as the share value soared 95% higher compared to Monday. The incredible price rise can be largely attributed to retail traders, Reddit's r/WallStreetBets community, and an Elon Musk tweet.
