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JulianMackie wrote a post · Apr 21, 2022 09:55

Struggling Melvin Capital may unwind current fund 14 months after GME short blew up in their faces.

$AMC Entertainment(AMC.US)$ $GameStop(GME.US)$ Plotkin's plan is to offer investors in his previous failed fund to invest in a new fund focused on short-selling. This is a bold move, considering his previous hedge fund collapsed when GameStop ripped higher in January of 2021. Melvin Capital and countless other shorts were already given a second chance, when brokers and Robinhood suspended purchase orders on so-called meme stocks.

GameStop is a fundamental story of a stock that had a short interest above 100% for an extended period of time, and Melvin Capital will always be the poster child of the GME Squeeze of 2021. The audacity of these failed hedge fund managers to continue to get opportunities to destroy more capital over and over again.
Struggling Melvin Capital may unwind current fund 14 months after GME short blew up in their faces.
Gabe doesn't just suck at shorting stocks. His hedge fund owned $1.3 billion of Facebook stock in the fourth quarter of 2021, and it ended up losing them nearly 50% on the position. $Meta Platforms(FB.US)$ 's Q4 earnings results were another hit to a fund that has been grossly underperforming the market for well over a year.
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JulianMackie
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