Short traders in the American stock market are taking a historic pounding as the retail crowd charges into the most-hated names on Wall Street.
The 50 most-shorted companies on the Russell 3000 Index have now surged 33% so far this year, with the Goldman Sachs Group Inc. basket set for its best month since at least 2008.
Whether it’s the Reddit trader army or the inescapable fate of bears in this market, this year’s rally is following one rule: The more hated a firm, the more loved the stock.
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