Hedge funds rethink tactics after $12bn hit from meme stock army

Hedge funds that bet on falling share prices are stepping up their efforts to spot the next GameStop after this year’s «meme stock» bonanza left the industry nursing billions of dollars of losses in just six months.

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Hedge fund losses since the start of the year from betting against just GameStop, AMC and Bed Bath & Beyond total more than $12bn, according to data group S3, while bets against a number of others have each run up additional losses of hundreds of millions of dollars.
Hedge fund losses since the start of the year from betting against just GameStop, AMC and Bed Bath & Beyond total more than $12bn, according to data group S3, while bets against a number of others have each run up additional losses of hundreds of millions of dollars. (Foto: Alex Kraus/Bloomberg)