- The Wall Street Bets forum on Reddit - now 3 million members strong - is flexing its muscle against hedge funds.
- The forum has sparked an epic short squeeze in shares of GameStop, which is now spilling over into other highly shorted
stocks . - Detailed below are the 10 highly shorted stocks that are soaring at the expense of many hedge funds.
- $4.
An extreme level of $4 has sparked an epic rally in the most shorted stocks in the market.
The forum, members of which refer to each other as "degenerates" and create "meme stocks," first targeted shares of $4, buying deeply out-of-the-money calls that created unprecedented demand for shares.
The ensuing 1,784% year-to-date rally in GameStop has led to massive losses for certain hedge funds that were short the stock, including Melvin Capital, which lost more than 30% and $4.
Now some traders $4, hoping to replicate the success of GameStop and cause pain for Wall Street hedge funds that are on the opposite side of the trade.
Detailed below are the 10 most shorted stocks that are soaring at the expense of many Wall Street hedge funds.
Read more: $4
10. National Beverage Corp.
Ticker: $4
Percent of float short: 63%
YTD rally: 131%
9. iRobot Corp.
Ticker: $4
Percent of float short: 63%
YTD rally: 146%
8. Virgin Galactic Holdings
Ticker: $4
Percent of float short: 64%
YTD rally: 150%
7. Children's Place
Ticker: $4
Percent of float short: 65%
YTD rally: 50%
6. Tanger Factory Outlet Centers
Ticker: $4
Percent of float short: 71%
YTD rally: 110%
5. Bed Bath & Beyond
Ticker: $4
Percent of float short: 84%
YTD rally: 204%
4. Macerich
Ticker: $4
Percent of float short: 88%
YTD rally: 144%
3. AMC Networks
Ticker: $4
Percent of float short: 94%
YTD rally: 104%
2. Ligand Pharmaceuticals
Ticker: $4
Percent of float short: 106%
YTD rally: 100%
1. GameStop
Ticker: $4
Percent of float short: 261%
YTD rally: 1,917%
All short interest data is as of December 31 and was sourced from Yahoo Finance. Year-to-date data is as of Wednesday's intraday highs.