What did Gabe Plotkin do?
Plotkin, the founder and CIO of Melvin, is a former trader and consumer stock specialist at Sigma Capital Management, then a division of SAC Capital, where he spent eight years. Melvin, launched in 2014, surged by more than 46 percent in 2019 and 52 percent in 2020.
Who is gabe Plotkin?
Gabriel Plotkin is an American hedge fund manager who is behind the reins at the hedge fund Melvin Capital. Mr. Plotkin is a millionaire courtesy of his hedge fund, and he has also spent his career at several hedge funds such as Citadel LLC, North Sound Capital, and SAC Capital.
Who owns hedge fund Melvin capital?
Buttonwood Plot LLC
Melvin Capital/Parent organizations
Is Melvin capital out of GameStop?
Melvin Capital closed out of its GameStop short position on January 27, and ended the month with $8 billion in assets under management, compared to the $12.5 billion it started the year with.
Who shorted GameStop?
Melvin Capital
The Reddit users focused on shorts held by Melvin Capital, which had disclosed short positions in its quarterly filings with the Securities and Exchange Commission. Melvin, which received a bailout of $2.75 billion from Citadel and Point72 as its losses mounted, said it had closed its GameStop short by Jan.
Who is Melvin GameStop?
Gabriel Plotkin’s Melvin Capital, the hedge fund at the center of the GameStop trading frenzy in January, is a defendant in nine lawsuits by retail investors alleging a conspiracy to limit trading that caused them to lose money.
Who is the CEO of Citadel?
Kenneth C. Griffin (1990–)
Citadel LLC/CEO
How did Melvin lose money?
Melvin was famously short GameStop and lost more than 50 percent during January following a short squeeze orchestrated by a Reddit forum called WallStreetBets, whose members included retail investors in GameStop.
Who lost money GameStop?
Two big hedge funds, Melvin Capital and Citron Research, are thought to have been the most exposed. The former is believed to have lost around 30% of its $12.5 billion under management already this year on a series of shorts, which includes GameStop.
Are short squeezes legal?
Short squeezes are illegal. Any brokerage that knowingly allowed a short squeeze to continue without taking action, could have potentially massive legal liabilities.
https://www.youtube.com/watch?v=9hLRAiDoRRc