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Official RSS - 2 hedge funds admit defeat, bail out at huge loss as GameStop share surge hits 1000%


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Andrew Left

A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop's stock will crash have admitted defeat in the David vs. Goliath battle that has seen retail investors on Reddit drive shares to record high after record high — forcing billions of dollars in losses to Wall Street firms along the way.

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