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Hedge funds slash bearish bets in GameStop aftermath: ‘Wow, this could be me’

Hedge fund bets are now the least bearish since 2010 following the GameStop saga

Investors have pared back their bearish bets a full month after the GameStop frenzy took off, showing the lasting effects of the Reddit-fueled saga on funds that make money by shorting.

Firms across the hedge-fund industry unloaded short positions that gain when stock prices fall, after a handful of stocks touted on Reddit and other social media platforms surged in January. They feared other stocks might experience the same meteoric rise.

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