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Synopsis
Many US hedge funds have lost money on bets to short GameStop stock. Global analysts say it’s unclear whether all small investors will make money. But for now, several retail players have made big money and the herd investing strategy is going strong.
The GameStop game: How amateur Reddit Robinhood investors were beating Wall Street pros
It’s small investors versus big Wall Street hedge funds – and Indian punters have now joined the party.
Market estimates peg the Indian retail bet on the stock of GameStop previously a little-known US video game retail chain at Rs 60-65 crore since Monday. All Indian retail plays are like those that started when groups of American small investors began punting against hedge funds’ bet that GameStop stock will fall.