37 days ago • Posted by Charles-Henry Monchau
There are rumors that GameStop short-squeeze is pushing Melvin Capital Hedge Fund to file for bankruptcy
Melvin Capital Management LP is a registered investment advisor founded in 2014 by Gabriel Plotkin, the firm's Chief Investment Officer. The firm uses a bottom-up, fundamental research-driven process to identify investments employing a long-short equity strategy. It used to manage $12 billion in Assets but got trapped into the GameStop short squeeze. Yesterday, they announced that Citadel and its partners and Point72 have made a $2.75 billion investment into its fund. According to a tweet by WallStreet Bets this might not have been sufficient.