Did hedge funds close their GME short position?
Hedge fund Melvin Capital closed out of its public short positions in the first quarter. The firm exited its short position on GameStop earlier this year after sparring with day traders. Melvin Capital finished the first quarter down 49\%, a loss largely pegged to its large short bet against Insider reported previously.
Is Melvin capital still short?
All of Its Public Short. Positions in the First Quarter. Gabe Plotkin’s firm sold puts in 16 stocks including GSX and Viacom, which ended up victims of the Archegos liquidation in late March.
What happened to GME stock?
By the end of January, short sellers of GME had lost a combined $6 billion, with many of the losses incurred by hedge funds such as Melvin Capital — which required billions of dollars in investments to remain solvent. As for retail purchasers of GME, many who sold as the price skyrocketed ended up profiting handsomely.
Are hedge funds shorting AMC Entertainment?
Hedge funds shorting AMC Entertainment and GameStop continue to lose billions Hedge funds such as Citadel and Melvin Capital are losing billions of dollars, and fast. They’re shorting a stock that is no longer on the brink of bankruptcy.
What caused the GME short squeeze?
This anomaly caught the attention of a large group of retail investors who sought to execute a short-squeeze play on the GME short sellers by aggressively purchasing GME shares. A major catalyst of the short squeeze was an online community known as WallStreetBets.
How much money are investors losing shorting AMC and GameStop stock?
Investors shorting AMC and GameStop stock are estimated to have lost $754 million on Tuesday 5/25 alone, via ORTEX. ORTEX is a software that provides the most timely and accurate short interest available. 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.