Troubles for Bitcoin as Hedge Funds Bet Against Stock Market Winners
Bitcoin faces the prospects of undergoing broader downside corrections as hedge funds rush to short stocks that surged impressively during the coronavirus pandemic. According to the Financial Times, some fund managers have increased their bets against the shares linked to technology, home gym equipment, grocery retail, and healthcare. Tim Campbell of Singapore-based hedge fund Longlead Capital Partners, for instance, called these stocks “the COVID over-earners.” The co-founder/chief investment officer noted that the current earnings trajectory of […]
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