Gabe Plotkin wasn’t sleeping. His bets against meme stocks such as GameStop Corp. were backfiring, and losses at his $12.5 billion hedge fund were mounting. Strangers angry about his wagers were bombarding him with threatening messages and texts.
At the worst point in January 2021, Melvin Capital Management was losing more than $1 billion a day as of stocks Melvin was betting against. “We were in a terrible position. Stared death in the face,” Mr. Plotkin told employees in a Zoom meeting late that month. “But we’ve made it through.”
And why does anyone care?
Well maybe he should have hedged, since it’s a hedge fund, instead of naked shorting everything in sight for maximum profit.
When u tried to beat retail investors!
gee, I don’t feel sorry for this guy at all, thanks for sharing WSJ.
💀
It’s easy to become hedge fund Manager anyone can do it
He manipulated the market and failed even as the SEC looked the other way. This is a level 10 loser!
Hope he and Griffin will end up in prison KenGriffinLied
His best two prospects I want to see a letter not the reporter concealed that I am narsasitic and how hard I would try to compare, find them online, easier that way throw their name in a hat
Sherrily Ifill In the dictionary Wikipedia
That's my lawyers pick
Of course I have Verizon
801.11 free wifi
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Source: Reuters - 🏆 2. / 97 Read more »