Melvin Capital loses 53% in January over bet against GameStop thanks to Reddit buying spree - reports ...News

Russia Today - Economy
Melvin Capital loses 53% in January over bet against GameStop thanks to Reddit buying spree - reports
source : Russia Today ( News ) () 28
Hedge fund Melvin Capital felt the effects of the buying spree spurred by individual buyers from the r/WallStreetBets subreddit account, with the group losing 53 percent in January. Despite the loss, Capital received fresh cash from investors by the end of January after taking heavy losses due to the unexpected and record stock gains for companies like GameStop, according to a source cited by Reuters. Melvin started January with $12.5 billion in assets, but is closing out the month with $8 billion, according to the Wall Street Journal’s report on the losses. It closed out its short position on GameStop in the wake of the massive surge.

Hence then, the article about melvin capital loses 53 in january over bet against gamestop thanks to reddit buying spree reports was published today ( ) and is available on Russia Today ( News ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Melvin Capital loses 53% in January over bet against GameStop thanks to Reddit buying spree - reports )

Apple Storegoogle play

Last updated :

Also on site :

Most viewed in Economy
Barack Obama targets 'spineless Congress' in push for Democrat El-Sayed
Business Standard - before 9 hours & 22 minute
Soldiers guard centre of Milan as thousands protest across European cities
Business Standard - before 11 hour & 58 minute
Sinking profits turn China's $3.5 trillion stock rout into a deeper trap
Business Standard - before 11 hour & 34 minute
Best Broadband Provider for Small Businesses UK (2026): Love Business Group Recognised for Helping SMEs Compare Business Broadband Options by Expert Consumers
PR Newswire - before 4 hours & 34 minute
Israelis abroad expected to fly home to vote in high-stakes election
Business Standard - before 6 hours & 52 minute
Delhi AQI improves to 167 after overnight rain, more showers likely today
Business Standard - before 9 hours & 35 minute
Yemen's Houthis say they targeted Saudi oil sites, attacks reported in Aden
Business Standard - before 11 hour & 21 minute
Trump weighs fresh Iran strikes as he keeps prospect of a deal open
Business Standard - before 10 hours & 16 minute
LPG distributors' unions oppose strike, seek dialogue for commission hike
Business Standard - before 7 hours & 56 minute
Isro plans four functional launch pads by 2029, says chairman Narayanan
Business Standard - before 8 hours & 20 minute
NMDC scouts for mining assets across four continents to diversify portfolio
Business Standard - before 8 hours & 32 minute
Q2 results, US Fed decision, crude oil may drive stock markets this week
Business Standard - before 7 hours & 44 minute


Latest News

RBI's Bhubaneswar data centre to reduce downtime of critical services

1 minute

Senco Gold to acquire 68% stake in August Jewellery for ₹68 crore

before 13 minute

Gold, silver face fresh test as oil surge puts Fed policy decision in focus

before 43 minute

Egyptian economist rules out US dollar falling below LE 50 

before hour & 32 minute

Coal supply crunch deepens as 98 power plants face critical stock levels

before hour & 43 minute

PM inaugurates RBI's ₹169-cr data centre, cybersecurity institute in Odisha

before hour & 58 minute

CCPA fines Hogar Technologies ₹1 lakh over misleading walkie-talkie ads

before 2 hours & 13 minute

AI giant cuts internet access to its most powerful models

before 2 hours & 16 minute

Women make up less than a third of apprentices under Centre's NAPS scheme

before 2 hours & 28 minute

Yes Bank yet to decide on AT-1 bond coupon, says it retains discretion

before 2 hours & 41 minute

Govt extends deadlines for cos to file annual financial statements, returns

before 3 hours & 19 minute

Bond yields rise nearly 30 bps in Oct, to raise govt's interest burden

before 3 hours & 59 minute

Beyond heartbreak: How anger, fear and shock can temporarily stun the heart

before 4 hours & 11 minute

Rupee's recovery faces hurdles from dollar demand, capital outflows

before 4 hours & 23 minute

What the US Movement Against Data Centers Can Learn From Abroad

before 4 hours & 28 minute