Retail traders take on hedge funds in Europe’s answer to ‘meme stock’ mania

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Financial Times 19h ago

Retail traders take on hedge funds in Europe’s answer to ‘meme stock’ mania - Financial Times

Quick Summary:

BlackRock, the world’s biggest asset manager, also held significant shorts in Eutelsat, before trimming these below the disclosure threshold of 0.5 per cent in recent weeks.“BlackRock is now completely out,” one user gleefully informed the forum last week.

One poster on Boursorama — a French stock market forum — said Eutelsat had “an enemy” in Darsana, the US-based hedge fund that holds short positions in Eutelsat and its Luxembourg-based rival SES.

Flatexdegiro, a German retail broker, said it had handled 70 times as many trades in Eutelsat shares over the past month compared with the month before, while trades in Renk Group have risen more than fourfold.eToro, a UK-focused retail broker, said traders had opened 18 times as many positions in Hensoldt over the past month as they had in the previous month.