As meme stocks once again dominate discourse on Wall Street, a Goldman Sachs basket is benefiting as hedge funds try to cover themselves.
Goldman's "short basket," known officially as the GS Most Short Rolling Index, has jumped along with the resurgence of the meme-stock craze seen this week.
When the original meme-stock mania took place, hedge funds rushed to cover their short positions as everyday investors squeezed them.
GameStop short sellers lost almost $1 billion in Monday's rally.
That experience even led to the demise of some hedge funds like Melvin Capital .
Persons:
Goldman Sachs, Melvin Capital
Organizations:
GameStop, AMC, Melvin, LSEG, Wayfair