Melvin Capital

Melvin Capital Management, the hedge fund that lost billions of dollars during last year's meme-stock rally, has told clients it is to shut down its funds ...

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Hedge fund had been a success until suffering huge losses in early 2021.

Gabe Plotkin's Melvin Capital is shutting down and returning money to its investors after a poor showing of performance. Melvin Capital lost billions of ...

In the hedge-fund industry, it is common practice that investors don't pay a performance fee for poor performance. I now recognize that I need to step away from managing external capital." Both billionaire investors have since wound down their investment in Melvin Capital as Plotkin's underperformance has lingered.

WallStreetBets members celebrate symbolic defeat of Melvin Capital a year and a half after their initial famed short squeeze.

Melvin Capital said it is finally shutting down after getting clobbered by Reddit investors last year — and now clients are doubly angry because its...

According to reports, Plotkin said he would keep the new fund small — under $5 billion and focus on shorting stocks. During the past few months, Plotkin has gone back and forth on whether to return capital to investors. “The past 17 months has been an incredibly trying time for the firm and you, our investors,” Plotkin wrote.

(Bloomberg) -- More than a year after Gabe Plotkin's Melvin Capital Management was grievously injured in a short squeeze by amateur traders who organized on ...

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The Citadel CEO scolded Reddit traders Thursday: "You're taking down the money of a pension plan that belongs to a teacher."

"People were locked up in their basements," Griffin said, "losing their minds." The average life span of a hedge fund is about three years, meaning that hedge fund closures are far more common than perhaps believed. You're taking down the money of a pension plan that belongs to a teacher." In a letter to investors, Plotkin wrote that he would be stepping away from managing external capital. But, when a Reddit-fueled bonanza of buying activity from individual investors intent on sending stocks like GameStop and AMC Entertainment "to the moon" hit in January 2021, Melvin felt the pinch. Soon after launching, Melvin began to amass short positions in companies like GameStop, whose business model seemed to hinge on a dying brick-and-mortar set of retail stores.