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Hedge Fund Manager Plotkin Takes A Hit As Nintendo Stock Surges

by bloomberg.com posted 1year ago 74 views
U.S. hedge fund manager Gabriel Plotkin made a risky bet by increasing his short position in Nintendo Co. just ahead of the company’s earnings report on Tuesday. He got it wrong, at least for the day. The Japanese game maker reported earnings that beat estimates and sent shares climbing as much as 7 percent in Tokyo trading. Plotkin’s hedge fund Melvin Capital Management, based in New York, was short about $400 million worth of Nintendo’s stock, according to the latest regulatory filing on Tuesday.

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