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Hedge Fund Melvin Capital Is Down $4.5B After Epic Squeeze By Reddit Traders, Report Says

by mashable.com posted 3weeks ago 0 views
Betting against the crowd isn't always smart. Hedge fund Melvin Capital reportedly lost $4.5 billion in assets value in January – a 53 percent drop – after its massive bet that GameStop's stock price will fall turned sour, the Financial Times reported Sunday. And that's after a $2.75 billion cash infusion from previous investors, who jumped in to save the fund from collapse.

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