This would be the perfect ending to that Reddit-GameStop story

[Andy Meek]

• The Reddit r/WallStreetBets community captivated the investment community for days last month, when it helped send the share price of GameStop soaring some 5,000%. That's led to book and movie deals about the story of these amateur investors who burned Wall Street professionals.
• Now, one hedge fund has posted a job listing that seems tailor-made for a member of r/WallStreetBets. In fact, being a member of that subreddit is a requirement.
• Among the requirements: This hedge fund is looking for someone who loves memes.

As of the time of this writing, there are a total of three movie deals and two book projects in the works, all focused on a previously obscure subreddit called r/WallStreetBets which managed over the course of a few days in January to hijack national media attention and send professional Wall Street investors running for cover. Those Redditors, as most of you probably know by now, helped jack up the price of GameStop shares by more than 5,000% last month, leaving hedge funds with short positions on the video game retail chain standing to lose billions of dollars. In fact, Melvin Capital almost went bankrupt, and it took a $2.5 billion cash infusion for that hedge fund to stay afloat.

Meanwhile, the story is still not finished. A New York City-based hedge fund called Cindicator Capitol reportedly wants to hire a trader at a base salary of $200,000 who'll open six-figure option trades and spend most of his or her time "on Reddit, Discord chats, and Twitter to feel the pulse of the tens of millions of retail traders."

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This would be the perfect ending to that Reddit-GameStop story originally appeared on BGR.com on Thu, 11 Feb 2021 at 16:20:21 EDT. Please see our terms for use of feeds.

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