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Hedge-Fund Titans Lose Billions to Reddit Traders Running Amok – Yahoo Finance

(Bloomberg) — For once, Main Street is beating Wall Street.In a matter of weeks, two hedge-fund legends — Steve Cohen and Dan Sundheim — have suffered…

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(Bloomberg) —
For once, Main Street is beating Wall Street.
In a matter of weeks, two hedge-fund legends — Steve Cohen and Dan Sundheim — have suffered bruising losses as amateur traders banded together to take on some of the worlds most sophisticated investors. In Cohens case, he and Ken Griffin ended up rushing to the aid of a third, Gabe Plotkin, whose firm was getting beaten down.
Driven by the frenzied trading in GameStop Corp. and other stocks that hedge funds have bet against, the losses…

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