re: Short-sellers lost $14.3 billion today alone on GameStop stock, according to S3 Partners

Hedge funds hedged a bunch of short sale stocks for game stock with the mandate to buy back the stocks at a certain date. Reddit users knew of these hedge funds. They stormed the market and drove the stock price up by $300 a share. The hedge funds have the buy the stock back from these people at enormous amounts. They are now losing billions of dollars and the owners of said stocks are making 10s of thousands to millions of dollars off small investments.