- Reuters
Hedge funds squeezed from short bets amid surging meme stocks, Goldman Sachs says
Hedge funds ditched bearish stock bets early this week at some of the highest rates in three years as U.S. meme stocks rallied sharply, a Goldman note seen by Reuters on Friday showed. The note, published on Wednesday just before the rally faded, said hedge funds dropped positions on the most actively shorted stocks tracked by a Goldman Sachs index. Most hedge fund short covering, when investors have to buy back stock borrowed for bearish bets, came from stocks tracked in the Goldman Sachs index, the bank's note said.
- Investor's Business Daily
Stocks Flat As Powell Gets Covid; GameStop Dives As Nvidia Earnings Loom
Stocks were mostly unchanged as investors await Nvidia earnings. Fed Chair Powell tested positive for Covid. GameStop fell on preliminary results.
- Investor's Business Daily
Dow Jones Holds Strong Near Highs; GameStop Slammed On Share Offering, But Reddit Jumps On OpenAI Pact
Major stock indexes traded near the flatline in afternoon Friday. AMD and CrowdStrike were top gainers on the stock market today.
