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‘People are crying’: Hedge funds reel as GameStop trading army goes global

Hedge fund managers are closing out positions and worrying about the GameStop mania bleeding into the broader market

GameStop's dizzying rally has kicked off a market event that has clobbered hedge funds
GameStop's dizzying rally has kicked off a market event that has clobbered hedge funds Photo: Getty Images

The GameStop melt-up, driven in part by Elon Musk, Michael Burry of The Big Short fame and an army of armchair Redditors intent on crippling bearish hedge funds, has led the stock to skyrocket and pummel positions at firms including Melvin Capital and Citron Research.

Now, the retail brigade is coming for other stocks popular among short-sellers, and not just in the US market.

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