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D1 Capital stung by AMC short bet, undone by Reddit traders - Business Insider

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Hedge fund phenom Dan Sundheim's D1 Capital has been stung by the AMC short bet caught up in Reddit's trading frenzy

, and it came into the year riding a high, producing 60% returns in 2020 amid the pandemic. Sundheim, the former chief investment officer of Viking Global Investors, deftly navigated the chaos last year, reducing short exposure and wagering heavily on several companies that benefited from the outbreak such as Chinese e-commerce company JD.com and car e-retailer Carvana.

"Our absolute number of positions has increased to 141 names. This compares to our average position count of 107 names from the start of the year to June 1st, 2020," the letter reads.

 

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But the AMCTheatres movie!!!?

... ... DeleteRobinhood RiggedSystem

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