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Wsj: Melvin Capital Hedge Fund's Value Halved By Gamestop Investors' Rebellion -- Society's Child -

by sott.net posted 1month ago 16 views
Melvin Capital Management, the hedge fund that has borne the brunt of losses from the soaring stock prices of heavily shorted stocks recently, lost 53% in January, according to people familiar with the firm. Melvin was founded by Gabe Plotkin, a former star portfolio manager for hedge-fund titan Steven A. Cohen. It started the year with about $12.5 billion and now runs more than $8 billion. The current figure includes $2.75 billion in emergency funds Citadel LLC, its partners and Mr. Cohen's Point72 Asset Management injected into the hedge fund last Monday.

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