Koppikar, 33, is a short seller - the kind of investor demonized by the hordes of Reddit day traders who sent GameStop soaring more than 1,000 percent from a few months before. It’s hell,” he told me from his home office in San Francisco. The week that followed was anything like what he could have predicted. There were new PlayStation and XBox consoles, after all, and GameStop had added a new board member - more than enough reason for the share price to rise. It was one of the most heavily shorted, or bet against, stocks out there, which meant it was subject to crazier moves - like a long-shot horse winning the Kentucky Derby makes for a bigger payday than the odds-on favorite. ![]() Although Koppikar wasn’t betting for or against GameStop, he knew how much other Wall Street hedge funds were cheering for the company’sĭemise. His computer had flagged that GameStop shares would open much higher than normal on the stock market, but he didn’t make much of it. ![]() Last Monday, Nate Koppikar, portfolio manager of hedge fund Orso Partners, woke up at 4 in the morning to check his home Bloomberg terminal.
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