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Melvin Capital Management, one of the hedge funds pilloried on social media message boards for its short-selling bets that GameStop shares would fall, lost 53% on its portfolio in January, a person familiar with the matter said.

Hedge fund targeted by Reddit board Melvin Capital closed out of GameStop short position Tuesday

OUCH! Melvin Capital lost 53% in January, hurt by GameStop and other bets. Citadel, its partners and Point72 took losses from their investment in the hedge fund. It started the year with about $12.5bn and now runs ~$8bn, incl $2.75bn in emergency funds.

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Think about this: Citadel is the hedge fund that owns Melvin Capital & brought in $6.7 billion in 2020 trading revenue due to paying Robinhood for order flow. Melvin blew up on its $GME short so Robinhood restricted $GME $AMC $BB $BBBY $EXPR $GME $KOSS $NAKD $NOK $SNDL $AAL hmmm!

CNBC's David Faber said he is hearing a number of hedge funds are in similar trouble that Melvin Capital saw in its GameStop $GME and may need to be bailed out.

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Hedge fund Melvin Capital Management lost 53% in January, hit partly by soaring prices of GameStop and other shorted stocks, say people familiar with firm.

Steven Cohen, rescuer of Melvin Capital, once pleaded guilty for insider trading -- but escaped jail time because he paid $1.8b in penalties

REMINDER: ROBINHOOD'S BIGGEST CUSTOMER FOR SELLING THEIR ORDER FLOW IS CITADEL. CITADEL BAILED OUT MELVIN CAPITAL Get it?

New Mets owner Steve Cohen had to bail out Melvin Capital because a bunch of stock trading kids on Reddit massively pumped up GameStop, putting Melvin's $13 billion at risk of disappearing. If that leads to the Mets cutting payroll, it would be the most Mets story ever.

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