Gamestop: $13bn Hedgefund suffers huge losses at the expense of amateur investors

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In recent news, a $13bn hedge fund has suffered major losses after many amateur investors pumping up the stock price for GameStop, primarily from Reddit.

The hedge fund, called Melvin Capital went against suffering video game retailer GameStop by selling its shares short. This means that Melvin Capital bet against GameStop share price going down, meaning they would have made money if the stock price…