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An unexpected $1 trillion liquidity boost by central banks. Not that I think anyone should read or trust Reuters (or any source for that matter, even me) but they have been an interesting source to evaluate since January. The damage to Melvin Capital was severe. read the source material. It's unclear how that plan will be received and how much capital Plotkin's investors will be willing to reinvest with him. Meaning, if Melvin raised funds at a valuation $5.25B, a $2.75B investment would be able to purchase controlling interest through a private placement investment. Even Goldman Sachs appeared to give some oxygen to that hope Thursday, pegging back its odds that the Fed raises 50 basis points in March. [38] According to Bloomberg, during 2020 Plotkin earned over $800 million in compensation. [29] Through the end of January 2021, the fund was down 53%, according to The Wall Street Journal. Barcelona. This company is AMC Entertainment and its revival is thanks to the millions of retail investors buying the stock. Bill Hwang, a former hedge fund manager who'd pleaded guilty to insider . Margin Call! They likely waited to report their position and then aggressively raised more capital by shorting VTRS further. Here's how they differ, Bank of America loves this under-the-radar streaming stock out of China, sees 30% gain. New technology and automation allow snowmakers to combat warmer, wetter winters. Melvin contends that these lawsuits are "without merit. Edit 5: Corrected my Fintel dates as pointed out by u/TakingOffFriday I severely botched this by confusing the the reporting dates with the filing date. The stock was worth just $6 four months ago. Investor Michael Burry said in a now-deleted tweet Tuesday that trading in GameStop is "unnatural, insane, and dangerous" and there should be "legal and regulatory repercussions." They provide users with intra day and historical data for days to cover, shares on loan, utilization rate, cost of borrow and free-float on loan. "[33], In May 2022, Bloomberg News reported that Melvin Capital planned to close its funds and return the cash to its investors by June 30. We want to hear from you. Its about the power of unification, and the strength to fight corruption in our nation. Here I engage my community one on one and discuss AMCs price action, Read: AMC margin call: the squeeze is inevitable, Read: AMC short squeeze price: Expectations vs Reality, Business News, Community, Finance, Finance News, Investing News, Ken Griffin, Market News, Meme Stocks, Reddit Stocks, Stock Market News, AMCAMC EntertainmentAMC Margin CallAMC NewsAMC Short Squeeze NewsAMC StockAMC Stock Newsr/wallstreetbetsWallstreetbets. [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. AMD position increased by 1.6M shares, from 2.1M to 3.7M. (what I meant by "attempted margin call"), If we look at the recent situation involving Archegos Capital, we can observe that the ability to acquire ridiculously risky leverage is fairly easy for bigger funds/big money (and just think Archegos was a "family office" lol). Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. Since January, Citadel and Point72 collectively possess controlling interest in the company's direction and strategy. Wallstreetbets is too powerful, and trying to bet against them right now is just giving them more ammo, Jim Cramer. Cuidado con el 'margin call'. Citadel has recently taken private funding from Sequoia and Paradigm. For more information, please see our Approximately 3.2 million retail investors currently own AMC Entertainment stock. Got a confidential news tip? The fund fell 21% at the end of the first quarter. Investors shorting AMC and GameStop stock are estimated to have lost $754 million on Tuesday 5/25 of last year alone, via ORTEX. In the above article (posted Jan 31st) it's stated that a "-Source" (sus af trust no one haha) disclosed that Melvin Capital ended the month with over $8 Billion in assets under management (AUM). The stock market is not the hedge funds private property. caused the distress of certain hedge funds such as Melvin Capital Management LP due to their large short positions in this stock. The Wall Street analyst was last seen blocking members of the AMC community online via. Melvin's strong track record of success, prior to its horrid recent performance, was often due to Plotkin's ability to make significant profits by shorting stocks. Plotkin said after speaking with investors he realized his suggestion to shut down Melvin was tone deaf.. Reddit and its partners use cookies and similar technologies to provide you with a better experience. On Monday, CCBI Global. Got a confidential news tip? The secret to stocks success so far in 2023? All Rights Reserved. If the customer does not respond to the margin call . Between January 26th and January 29th AMZN fell from $3,326 to $3,206. Generation-Z (Gen-Z) retail traders, who use apps like Robinhood, have steamrolled some hedge funds and hedge funds with extensive short exposure. Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund's manager told CNBC's Andrew Ross Sorkin. The Tesla CEO tweeted to his 42 million followers "Gamestonk!!" Heres How Meme Stocks Performed This Week, Strategist Says Mother of All Short Squeezes is Here. AMC Entertainments market cap has grown immensely since the start of 2020 up until now. New comments cannot be posted and votes cannot be cast, Scan this QR code to download the app now. soared 12.4% as retail investors digested global unrest and some trouble for one or maybe two Wall Street opponents. Welcome to Franknez.com the blog that protects retail investors from FUD media. +2.91% adidas Promo Code - $30 Off 1000s of Best-Sellers + Free Shipping, 60% off running shoes and apparel at Nike without a promo code, Save 15% on orders of $100+ with Kohl's coupon. Same as cooking the books in my opinion. This might not be the case but it's obvious that Citadel cannot afford Melvin to be margin called. beating on chest Ape no hurt ape. [] CNBC could not confirm the amount of losses Melvin Capital took on the short position. We know a massive market downturn is a catalyst for the MOASS [mother of all short squeezes], read a post from user jdrukis on subreddit r/amcstock. U.S. stocks end sharply higher, Dow snaps four straight weeks of losses amid signs of a resilient economy. Deductions I made from the QoQ report comparison, keep in mind the most recent FINTEL report reflects the positions value on 31/01/2020 when GME was $19.50 (when I'm writing this GME is $177.77 so Melvin is at least 8x as fuk as they were in December 2020). Lets count them. Family-controlled Dillards has combined share buybacks with keeping costs down, inventory tight and staff engaged with nearly fanatical customers. It was time for this revolution to happen. And theyve subsequently managed Melvin Capital to the ground. Shares in GameStop As more retail investors discover that AMC has the perfect set up for a MOASS (mother of all short squeezes), hedge funds will subsequently lose several more billions of dollars in the coming weeks. Oh yeah and I'll just leave this here: https://www.cbre.us/properties/properties-for-lease/office/details/US-SMPL-2338/535-madison-avenue-10022?view=isLetting That's Melvin's old building. AMC Entertainments stock is up more than 1,900% since January. And the troubles didn't end with 2021. NextMed said most of its customers are satisfied. [4] Notable short positions included bets against J.C. Penney Co. and renewable-energy company SunEdison Inc., both of which ultimately went bankrupt. This would develop a narrative that Melvin did not have to sell controlling interest in the company to raise capital to prevent a bankruptcy. We'll deliver the most current and interesting sovereign wealth and financial news straight to your inbox. Social Capital's ChamathPalihapitiya is among those who jumped into the stock, saying in a Tuesday tweet that he bought GameStop call options betting the stock will go higher. Busted for insider trading, this former hedge fund manager is believed to be behind last week's margin call mayhem. I think these drops are all the result of Melvin Capital receiving a margin call but they stayed holding positions acquired with cash. Hedge fund. It reportedly required a huge . CNBCs Jim Cramer has publicly thrown short sellers under the bus in a recent video disusing the power of the retail investor community. I feel these changes support the thesis that Melvin Capital has changed their investment strategy due to new majority ownership. Not only we are going to win that fight but also those hedge funds and Bank of America are going to go bankrupt. If we compare Melvin Capitals SEC quarterly reports side by side; we can see that Melvin has without a doubt gained access to more capital through short selling. +2.80% Analyst: Tech stocks will rise 20% in 2023. covered) its short position in GameStop on January 26 in the afternoon, although CNBC could not confirm the amount that Melvin Capital lost. SWFI is a minority-owned organization. [3] In February, Melvin posted a 22% gain; even with this addition, Melvin will need to produce an additional 75% gain for earlier clients before they break even. Free Live Daily Updates: AMC Short Interest Today + more, This news was reported as of August, via WccFTech, Short Interest Updates for AMC, GME, MULN, BBIG + more, Anchorage Capital closes after betting against AMC stock, How do hedge funds manipulate the stock market, The hedge fund received a $1.2 billion lifeline, 90%-95% of retail market orders are executed in dark exchanges, Deputy Global Treasurer resigns from Citadel, AMC margin call: the squeeze is inevitable, AMC Failure-to-Delivers Are Skyrocketing Through the Roof, AMC Spends 20 Days on Threshold Securities List. The release quoted CEO Adam Aron as saying "any talk of an imminent bankruptcy for AMC. Griffin has denied any deeper ties with Robinhood or that he was bailing out Plotkin, but that didnt stop Apes from beating their chests on social media Thursday as they reacted to news that their version of Emperor Palpatine was clawing back $500 million from their version of Darth Vader. HOOD, His tweet seemed to intensify the rally in the previous session. https://fintel.io/i13fs/melvin-capital-management-lp, https://www.bloomberg.com/news/articles/2021-04-09/hedge-fund-melvin-capital-posts-first-quarter-decline-of-49, Wait, so a fund that had $22B under management on 12/31/2020 only had $8B on 01/31/2021 AFTER receiving a $2.75B "cash infusion" on the 01/24? While youre not wrong Jim, retail investors within the AMC community are known as apes, not wallstreetbets. Quadrant Capital Group LLC now owns 516 shares of the restaurant operator's stock worth $58,000 after purchasing an additional 163 shares during the last quarter. Theyve already liquidated accounts in both the stock and crypto markets. closed up 8.5% Thursday, while stock in AMC Entertainment Plotkin founded Melvin Capital in 2014. Goldman Sachs CEO says office attendance tops 50% during r REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, US home prices just did something they haven't done since 2012, JPMorgan Chase requires some workers give 6 months notice before quitting, This Girl Scout cookie flavor is reselling for $100 online -- here's why, Is this the couple behind the Worst Art Job Listing Ever?, Harry and Meghan hold the upper hand on King Charles coronation: Source, Hated Tom Sandoval addresses Ariana Madix split amid cheating claims, Undertaker transforms coffin into barbecue grill, Kellyanne Conway and George Conway to divorce, Canadian teacher with size-Z prosthetic breasts placed on paid leave. If you remove the $2.75B "infusion" from the total $8B AUM reported it's $5.25B, exactly half of $5.25B is $2.625B. AEO position decreased by 3 Million shares, . Anyone shorting AMC or GameStop is out of their mind. Citadel just redeemed $500m from Melvin Capital, I personally think this means Citadel are running out of cash, and have just squeezed Melvin for every last penny, putting both of them in a. No ape wants such an event to be at the cost of real lives. Why It Matters: Founded in 2014 by Gabe Plotkin, a former portfolio manager for Steve Cohen, Melvin Capital lost 53% on its investments in January amid the battle between retail traders and. The truth is people want to keep the movie theater business alive. This is likely because whenever Melvin's broker/lender realized shit was hitting the fan they may have attempted to margin call Melvin's naked short position on GME; only to realize they literally can't cover it even with a margin call due to unavailable float since we now know available float is 26M. His mark-to-market losses would be in the billions of dollars even at $48,063 a ton, which is where the price now stands after it was halted and trades were canceled. Melvin S. Frost, CPA. The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. Courtesy of ZeroHedge View original post here. He previously said GameStop will fall back to $20 a share "fast" and called out attacks from the "angry mob" that owns the stock. Melvin Capital lost 57% of its capital due to its short position in GameStop, which skyrocketed during the "meme rally" of January 2021. Melvin Capital Management LP is an American investment management firm based in New York City. Order Online at Matchbox Silver Spring, Silver Spring. For us, seeing a little red in our portfolios is nothing new and it will pass quickly. Amid GameStop's explosive rally, short sellers have accumulated losses of more than $5 billion year to date in the stock, including a loss of $917 million on Monday and $1.6 billion on Friday, according to data from S3 Partners. There is also a term called regulatory AUM which means the $ amount value of assets managed by a fund when accounting for losses in unclosed positions and tracks margin but big surprise funds don't offer this number publicly. Billed as a glimpse into Teslas future, Investor Day was used as an opportunity to spotlight the companys leadership bench. "Technical issues" such as partial GME shares selling for over $2k may have resulted from this attempted margin call (also maybe not, just can't explain this any other way): https://www.reddit.com/r/wallstreetbets/comments/l7et6x/technical_error_gain_market_order_filled_for_gme/, https://www.reddit.com/r/wallstreetbets/comments/l7aj2e/mic_drop/gl64fks/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3, Comment section: https://www.reddit.com/r/wallstreetbets/comments/l7bpf5/30_seconds_from_triggering_market_nuclear_bomb/gl5vgof/?utm_source=share&utm_medium=web2x&context=3. Plotkin is really looking for a second, second chance, after being bailed out with a capital infusion from Citadel in January of 2021. The details of that deal further incensed retail folks when they considered that Griffin is also the founder Citadel Securities, which is the largest executor of retail trades on apps like Robinhood Jim Cramer is the host of Mad Money on CNBC and is a former hedge fund manager. This so-called high water mark, which requires hedge fund managers to return their investors' capital to par prior to earning fees, is virtually impossible for Plotkin to meet on much of the capital in Melvin, given the fund's losses of 39% last year and at least 21% so far this year. 05:30. [4], Subsequent to the GameStop short squeeze event, Melvin Capital disclosed that it is the target of at least nine lawsuits relating to its behavior during that period. Melvin's most recent balance sheet on Fintel lists $22B in AUM, as of 01/31/2021 Melvin had $8B in AUM meaning that Melvin lost at minimum $15B in January. How much higher can interest rates go? Melvin Capital got $2.75 billion from Citadel and Point72 at the end of January when the firm's GameStop shorts caused the fund to lose billions. These are the highest quality stocks in the S&P 500 that could win in this volatile market, This growth ETF is leaving one of its top competitors in the dust. Griffin infused Plotkin with the cash at the height of Januarys 2021 short squeeze on meme stocks, a move that Apes saw as one Wall Street fat cat bailing out another. [11][12] CIO Gabe Plotkin described the fund to Bloomberg as a very human-intensive place. Gabe Plotkin was a top portfolio manager at Point72s predecessor firm, SAC Capital Management, before leaving to start Melvin Capital. A quick glance at the position differences on these reports and it doesn't even look like the same fund: 2020 Q4: https://www.sec.gov/Archives/edgar/data/1628110/000090571820001111/xslForm13F_X01/infotable.xml, https://www.sec.gov/Archives/edgar/data/1628110/000090571821000248/xslForm13F_X01/infotable.xml. As will take place when the MOASS occurs, the broker/dealer (remember we don't know where Melvin bought their shorts, it could very well be Citadel, or another completely random broker/MM) who lent to Melvin would've had to decide to bankrupt themselves to attempt to cover and realized covering without going bankrupt was impossible. You might have to deposit cash or additional securities into your account, or you might need to. Newcomers are joining subcommunities and doing some detailed digging themselves. Only way to avoid bankruptcy was to require Melvin to locate adequate funding and along came Citadel and Point72 to "pro-actively contribute" $2.75B to prevent further margin call of Melvin through private placement. Just woke up and saw this post is close to 5k upvotes and heaps of awards!! short seller Melvin Capital Management LP said Monday it had received $2.75 billion in investment from hedge funds Citadel and Point72. Founded in 2014, Melvin Capitals principal objective for its Clients is to generate superior, risk-adjusted returns by employing a long-short equity strategy. Melvin Capital Management is a hedge fund with 4 clients and discretionary assets under management (AUM) of $21,801,284,330 (Form ADV from 2022-05-11). Melvin, the. The fund lost 23% in the first four months of 2022, a person familiar with the fund's finances said. https://www.reddit.com/r/wallstreetbets/comments/l7bpf5/30_seconds_from_triggering_market_nuclear_bomb/gl5vgof/?utm_source=share&utm_medium=web2x&context=3, https://www.bloomberg.com/news/articles/2021-04-01/leveraged-blowout-how-hwang-s-archegos-blindsided-global-banks, https://fintel.io/i13fs/melvin-capital-management-lp, https://reports.adviserinfo.sec.gov/reports/ADV/173228/PDF/173228.pdf, https://www.sec.gov/Archives/edgar/data/1628110/000090571820001111/xslForm13F_X01/infotable.xml, https://www.cbre.us/properties/properties-for-lease/office/details/US-SMPL-2338/535-madison-avenue-10022?view=isLetting. This resulted in the shares stampeding higher, and Melvin Capital very nearly went bust as a result. Assets under management in April 2022 were about $7.8 billion. [4], After graduating from Northwestern University with a degree in economics in 2001, Gabriel Plotkin joined Ken Griffin's hedge fund Citadel LLC, and later Connecticut-based hedge fund North Sound Capital. Citadel and Point72 purchased over 51% of Melvin Capital's share equity after Melvin's broker realized they couldn't close their positions and complete margin call without risking bankruptcy. Melvin Capital got crushed on its short position in GameStop. ", "Hedge funds and other private funds also engage in private placements.". (4 minutes) Citadel LLC and Point72 Asset Management are investing $2.75 billion in hedge fund Melvin Capital Management, an emergency . Last Friday, in the aftermath of the Gamespot's historic eruption which sent the stock from $40 to the mid-70s (before it doubled again on Monday rising At the time, Plotkin whofamously got slammed by meme stock investors on Reddit last year who had targeted his fund for being a prominent short seller said he wouldnt try and make investors whole. and our Slumping tech and property activity arent yet pushing the broader economy into recession. Como posiblemente algunos de ustedes saben, el imperio de Adani, que abarca, entre otras cosas, la explotacin de recursos naturales, aeropuertos y sector energtico, ha tenido durante estas ltimas semanas una notable cada del valor de su accin en bolsa, desde . But slowing profits in other sectors and rising interest rates are warning signs. Seeing this position materialize between Q4 2020 - Q1 2021 supports the thesis that Citadel has an influence over the strategy Melvin is undertaking. In this article, we discussed Melvin Capital Management's short bets that resulted in big losses along with its top 10 stock holdings. Shares of the brick-and-mortar video game retailer popped another 134% on Wednesday, pushing the company's market cap to $24 billion. Citadel and Point72 have owned at least 51% (controlling interest) in Melvin Capital since January 24th (through a private placement investment/unregistered offering) following Melvin receiving notice that their broker/dealer had margin called them. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Citadel and Point72 have infused close to $3 billion into Melvin Capital to shore up its finances. Melvin Capital 2021 returns down 39% after GameStop short squeeze, This half-century old fund seeks out global value and has Warren Buffett's style all over it. The Biden administration is preparing a new program that could prohibit American investment in certain sectors in China, a step to guard U.S. technological advantages amid a growing competition between the worlds two largest economies. Alex Flynn/Getty Images/Bloomberg. And although new hedge funds are taking short positions in both AMC and GameStop, Im confident saying hedge fund losses will continue to skyrocket as more retail investors buy and hold these stonks. . The drop came after many advertisers left the social-media platform following Elon Musks takeover. (They . Aug 15, 2022 6:23 AM EDT. When investing through a private placement, the investor is essentially purchasing equity shares in that company. Signs of continued U.S. labor market strength plus persistent inflation out of Europe were all it took this week for bond investors to push yields up toward new milestones as interest-rate expectations continued to be readjusted. Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund's manager told CNBC. Looking at the most recent Fintel summary for Melvin Capital. All positions listed above are observed between October 2020- December 2020. Plotkin should sell his $44 million Miami Beach home after losing all of us so much money rather than charging us more fees, the investor fumed. When a margin call takes place, the broker/dealer often uses software/algorithms to close out the positions meaning that a computer will buy at LITERALLY ANY PRICE WITHIN A SPECIFIED RANGE. Jan 31 (Reuters) - Melvin Capital, the hedge fund that lost nearly $7 billion early last year by betting stocks like GameStop (GME.N) would tumble, wants to raise money for a new portfolio,. Okay, I've been typing all day and sipping coffee all night, so strap in for my crayon drawings. Content. That fund was down 21% at the end of the first quarter. Melvin Capital, the highest-profile hedge fund casualty from last year's meme-stock rally, has rapidly backtracked on a controversial plan to start charging performance fees again in the face . Twitter after the humiliating prediction . Since January, Citadel and Point72 collectively possess controlling interest in the company's direction and strategy. We've received your submission. Click to skip ahead and see Melvin Capital's Top 5 Stock . Citadel and Point72 purchased over 51% of Melvin Capital's share equity after Melvin's broker realized they couldn't close their positions and complete margin call without risking bankruptcy. For non-personal use or to order multiple copies, please contact Bigger personalities are talking about AMC Entertainments once in a lifetime opportunity. Melvin Capital admitted defeat yesterday, with boss Gabe Plotkin telling CNBC that his fund had closed its position in GameStop on Tuesday accepting huge losses. We must resit it at all cost and send them a clear message that the American dream or the wealth of the United states belongs to everyone but not only to them or kids or their own gangs. Chinese Tycoon Who Faces $8 Billion In Margin Calls Tells Bank He Wants To Keep Shorting Nickel by Tyler Durden Thursday, Mar 10, 2022 - 10:39 AM Update (1400ET): In what appears to be LME's latest attempt to 'manage' Xiang's outsize position risk, the exchange is 'changing the rules' (one might say): Melvin Capital Management is based out of New York. The stock ended the day 92% higher at $147.98. What Happened: While Citadel and its partners are. It was reportedly down 30% as of Monday, according to the Wall Street Journal,. Melvin Capital, the hedge fund run by Gabe Plotkin that struggled with heavy losses last year as it reeled from wrong-way bets on GameStop, is shutting down, according to a letter sent to investors on Wednesday that was reviewed by The New York Times.From the report: Mr. Plotkin wrote to his investors that he had decided that the "appropriate next step" was to liquidate the fund's assets and . In a recent and exclusive interview with Bloomberg, Gary Gensler officially states 90%-95% of retail market orders are executed in dark exchanges. short selling). AMC, Remember Plotkin said in the hearing that he didn't think the price action was influenced by shorts covering; I still believe he knew that covering their entire short position would send the stock much, much higher and break the financial system which we might have seen if the buy stoppage did not occur. Hedge fund Melvin Capital had suffered massive losses on its shorts and margin calls. Hedge funds such as Citadel and Melvin Capital have lost billions of dollars, and fast. GameStop Corp. and Plotkin's $12.5 billion firm. [39] However, during January 2021, he reportedly lost $460 million due to his funds collapsing.[39]. [2], Melvin Capital invested primarily in technology and consumer stocks and was reported to have $8billion in assets under management (AUM) as of January 2021. . I got this one wrong. It Hasn't Gotten Easier Since", "Melvin Capital Is Facing Nine Lawsuits Related to the GameStop Frenzy", "Plotkin Shuts Melvin Hedge Fund Left Reeling by Redditor Attack", "Melvin Capital, hedge fund torpedoed by the GameStop frenzy, is shutting down", "Gamestop Short Seller Gabe Plotkin Buys Miami Beach Property", "Michael Jordan sells minority stake in Hornets Sports & Entertainment", "Coleman Leads $23 Billion Payday for 15 Hedge Fund Earners", https://en.wikipedia.org/w/index.php?title=Melvin_Capital&oldid=1105887483, Investment management companies of the United States, Pages with non-numeric formatnum arguments, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 22 August 2022, at 07:09. AMC retail investors now have the lead in this war versus short sellers. All material subject to strictly enforced copyright laws. Melvin had held that position since it was founded six years ago because the fund believed GameStop's business model of selling video games in brick-and-mortar stores was "being overtaken by . And while Plotkins losses have been large and public, some even speculated that this was more about Citadels problems than Melvins. I found their behavior totally abusive and extremely irresponsible. ape weak alone but together strong.. On the threshold list for a month now. Key Points Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund's manager told CNBC. Note that trading on margin can improve gains, but . Melvin still struggling to recoverafter a massive short squeeze on meme stock GameStopcrushed his fundin January 2021 lost another 3.3% in April, taking the funds year to date drop to 23.3%, according to a letter to investors reviewed by The Post. He has since made his profile on Twitter private. Is a MULN Reverse Stock Split on Its Way? Have a wonderful day and enjoy earth while you can, cause we'll be out of the atmosphere before you know it. How can they keep getting away with this? Listen to article. This process coming from a companies upper management could lead the SEC to take more serious action. Representatives for Plotkin could not be reached for comment and officials at Point72 declined comment. I encourage you to prove this thesis wrong. The comment appeared to help send GameStop shares soaring in extended trading Tuesday. 2008-2023 Sovereign Wealth Fund Institute. This AMC movement is more than just about making money now. The . ORTEX is a software that provides the most timely and accurate short interest available. While a number of well-known hedge fund managers, faced with onerous high water marks have chosen to shut down and then re-opened a new fund as soon as a year later, this would be a unique transition from one fund to another with the immediate elimination of the high water mark. https://www.reddit.com/r/Superstonk/comments/myulmm/so_i_hear_melvin_secretly_went_out_of_business_in/gvxaj0n/, But they have renewed their SEC registration this past march: https://reports.adviserinfo.sec.gov/reports/ADV/173228/PDF/173228.pdf, Looking at their SEC filings can shed some light of this, We can notice Melvin's behavior as a fund change by observing certain position changes between Q4 2020 - Q1 2021.