An article about who really made money on Gamestop. I know there is a pay wall for this, so I am copying and pasting the gist of it.

https://www.washingtonpost.com/business/...et-wealth/

How the rich got richer: Reddit trading frenzy benefited Wall Street elite

Big hedge funds were alerted to GameStop buzz early because they actively monitor conversations on social media

Last month’s GameStop trading mania was sparked by members of a popular Reddit investing community who said they hoped to strike back at the Wall Street elites who had long dismissed them as dumb money. But growing evidence casts doubt on the idea that the episode mostly benefited small-time investors.

Giant mutual funds that own the largest stakes in GameStop saw the biggest gains in value. Hedge funds — some that have started using algorithms to track retail investors on social media sites — appear to have bought and sold millions of shares during the stock’s most volatile period of trading, industry experts said.

And, in at least some cases, novice investors lost their shirts.
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... the rise in retail investors has also led some Wall Street firms to pay more attention to the mom-and-pop investors they used to ridicule. Hedge funds have started to build algorithms or hire outside firms that specialize in scanning conversations on Reddit and Twitter for clues about what retail traders are thinking. Several of these services, with names like Swaggy Stocks, Robintrack and Quiver Quantitative, popped up in the past two years.

Benn Eifert, chief investment officer of San Francisco-based investment fund QVR Advisors, said the largest hedge funds probably knew about the GameStop buzz early because they are actively monitoring conversations on social media forums.

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