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| Hedge funds had shorted Gamestop big time anticipating them going under. They had them shorted to 163% or something. Somebody got wind of this and got an internet following to start buying up the stock causing price to go up massively. The thing about a short is that the losses can be infinite so these hedge funds are stuck buying back in at high prices to cover their shorts or paying margin and try to ride it out. Either way they're gonna lose tons of money. | |
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SEC rule changes?
