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Podcast: Bharatvaarta
Episode: #088 - Wall Street Bets v/s Hedge Funds: Short Selling & more | Bharatvaarta
Description: Social media has been abuzz about Redditors on a forum called “WallStreetBets”, banding together and buying up stock in a gaming merchandise retailer called GameStop. They are orchestrating a “short squeeze” against hedge funds that had taken a short position on the stock. Melvin Capital, one of the prime targets, lost over 30% of it’s AUM and required an emergency infusion of $2.75 billion from fellow hedge funds Citadel and Point72. This is being seen as a triumph of the retail investors against institutions that purport to manipulate markets at the cost of smaller investors. To give us an insi...