GameStop GME short sellers lost almost $1 billion in Monday’s monster rally

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A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange on March 29, 2022.

Brendan McDermid | Reuters

The jaw-dropping rally in GameStop on Monday caused losses approaching $1billion for short sellers, according to data from S3 Partners.

With GameStop soaring 74%, short-selling hedge funds suffered a mark-to-market loss of $838 million in the brick-and-mortar video game retailer, data firm S3 Partners said.

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