Business

How hedge funds are tracking Reddit posts to protect their portfolios after the WallStreetBets crowd tanked Melvin Capital's short positions

1 month ago   |   By Business Insider

Summary List Placement Retail investors - especially from the infamous subreddit WallStreetBets - helped force one of the top-performing hedge funds of the last half-decade to secure billions in emergency funding from two ultra-competitive peers.
Now, funds are planning to keep as close of an eye as possible on the social media platform, angling to not just avoid getting burned but also to extract insights and capitalize on other shifts in stocks in the Reddit crowd's crosshairs.
One data scientist at a fund told Insider they created a scraping tool this weekend to monitor tickers being...
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