Melvin Capital Lost More Than
50% in Bet Against GameStop.
Melvin Capital Management lost
53% in January on bets against
GameStop and other stocks.
The hedge fund’s assets currently
stand at $8 million, down from about
$12.5 billion at the start of the year. .
GameStop shares ended last week at
a 400% gain, closing at $325 on Friday.
The video game store's shares
were going for under $10 each in
October of last year.
The sudden rise in GameStop’s value began last week as a result of retail investors turning to Reddit’s r/WallStreetBets subreddit
50% in Bet Against GameStop.
Melvin Capital Management lost
53% in January on bets against
GameStop and other stocks.
The hedge fund’s assets currently
stand at $8 million, down from about
$12.5 billion at the start of the year. .
GameStop shares ended last week at
a 400% gain, closing at $325 on Friday.
The video game store's shares
were going for under $10 each in
October of last year.
The sudden rise in GameStop’s value began last week as a result of retail investors turning to Reddit’s r/WallStreetBets subreddit
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