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I am the second

Wall Street's "smart money" is still betting stocks fall

Having been battered and bruised by the broad rally in stocks this year and the meme stock resurgence, bearish investors are holding onto and even increasing their short bets, wagering even more money that stocks like GameStop and AMC will sink along with the broader market.

Background: Hedge funds got burned on short positions earlier this year as meme stocks jumped by hundreds of percentage points in just weeks, and then scrambled to reduce risk and square their positions.

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