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The 'villain' in Reddit's GameStop investor saga is shutting down
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The 'villain' in Reddit's GameStop investor saga is shutting down
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20th May 2022, 07:36
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 148,652
 |  The 'villain' in Reddit's GameStop investor saga is shutting down Reddit's war over GameStop stock has claimed a major casualty. Bloomberg and The New York Times report Melvin Capital, the hedge fund considered the nemesis of the meme stock affair, is shutting down. Fund owner Gabe Plotkin told investors that the "appropriate next step" after steep losses was to liquidate assets and return cash to investors, and that it was time to "step away" from managing others' capital. At least half of the cash will transfer by May 31st, with the rest coming by June 30th. https://www.engadget.com/melvin-capi...5.html?src=rss |
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