I think you missed the position this fund took, which I think was to bail out amc with a "distressed debt agreement" for shares, which they then used to make a

I think you missed the position this fund took, which I think was to bail out amc with a "distressed debt agreement" for shares, which they then used to make a killing. So, to me it sounds like it's really that long hedge funds profited from shorts and reddit investors were taken along for the ride if they had good timing. Shorts still "got rekt" and the people who helped bail out AMC were rewarded.