Reddit Trader Who Led the GameStop (GME) Rally Lost $13 Million in a Day

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Some analysts suggest that hedge funds had a hand in moving the stock market. According to a Bloomberg report, Mudrick Capital —a $3 billion hedge fund made a $200 million bet against AMC and GME last month. However, it was reported that several hedge funds including Mudrick that had been shorting or betting against GME and other shares had actually contributed to the surge of those companies’ shares.

Meanwhile, WallStreetBets Reddit group reported that bots are storming the Reddit board. According to CBS MoneyWatch report, the group moderators noticed a “large amount” of bot activity in the stock-recommendation section. The group moderators alleged the attackers of trying to mislead group members.

U.S. Treasury secretary Janet Yellen will meet top regulators this week to discuss the volatile trading in GameStop. Additionally, Yellen will discuss with other regulators the “meme stock” companies and also the price of silver.