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Hedge fund Millennium’s meme-stock short is a sign GameStop army in retreat

Millennium has a bet against Arrival, a British meme-stock and retail investor favourite

By

Bérengère Sim

British electric vehicle firm Arrival is a meme stock and a favourite with retail investors
British electric vehicle firm Arrival is a meme stock and a favourite with retail investors Photo: Arrival

The retail investing boom is showing signs of slowing down, and short sellers are seizing on the trend as Reddit “meme-stocks” tank.

Hedge fund Millennium International Management, with some $50bn in assets under management, is piling into a big bet against Arrival, a British electric vehicle firm that debuted on the Nasdaq on 26 March following a Spac deal.

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