It turns out there were hedge funds playing both sides of the bet. Senvest (zerohedge.com), it turns out, had 3.6 million shares in its portfolio. Therefore, they were betting on the short squeeze. The Reddit traders were also making the same bet.
It turns out there were hedge funds playing both sides of the bet. [Senvest](https://www.zerohedge.com/markets/curious-timing-hedge-fund-made-700-million-gamestop), it turns out, had 3.6 million shares in its portfolio. Therefore, they were betting on the short squeeze. The Reddit traders were also making the same bet.
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