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Reddit’s r/WallStreetBets Just Took Down a Hedge Fund. You’ll Love What Comes Next.

As a member of r/WallStreetBets, a popular Reddit forum, let me tell you this: It wasn’t supposed to ever happen. Our happy band of rag-tag investors was supposed to use our little corner of the internet to exchange risky stock investment ideas, not take down one of America’s most prominent hedge funds. Source: Mehaniq / Shutterstock.com Yet here we are. In the past week, traders reading WSB and other forums have pushed GameStop (NYSE:GME) and a host of other highly shorted stocks to impossibly high levels, bankrupting at least one hedge fund and causing several platforms to halt trading. So ham-handed was Wall Street’s response that Congress members Ted Cruz and Alexandria Ocasio-Cortez, long-sworn enemies, even managed a coordinated tongue-wagging (Twitter-wagging?) at the U.S. financial system. But as Citadel picks up the pieces of Melvin Capital and Reddit users find their next short-squeeze target, people are starting to ask, “what’s next?”InvestorPlace – Stock Market News, Stock Advice & Trading Tips Reddit’s r/WallStreetBets Gives Citron a Taste Let me be clear: You won’t find my posts on r/WallStreetBets. As much as I read and enjoy the platform, my work and ethics prevent me from talking about any stock I own. (Sorry, Elon Musk. I wish I were you.)
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