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Retrieved on: 2024-05-15 20:13:04
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Summary
The article details how hedge funds were unexpectedly impacted by a meme stock frenzy in 2021, focusing on the GameStop short squeeze orchestrated by retail investors from platforms like Reddit. This internet-driven movement led to significant losses for hedge funds engaged in short-selling. The tags and concept of 'TikTok' are slightly disconnected, as the core events mainly revolved around Reddit and traditional financial systems reacting to new internet culture dynamics.
Article found on: qz.com
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