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That’s old... current state of play
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Melvin Capital, to file bankruptcy as soon as next week according to sources. The bailout they received yesterday from Citadel and Point72 went “poof” today as the GameStop ( $GME ) momentum continued. The fund was forced to liquidate its Alibaba ( $BABA ) position after hours.
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Short squeezes are happening all over the market, largely orchestrated by motivated retail stocks buyers who are explicitly trying to crush Wall Street shorts. Bed Bath & Beyond, AMC join GameStop cnbc.com/2021/01/25/bed
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Damn, now *this* puts the discord into Discord. Can’t imagine an op like this running on Slack or Telegram. Discord may be the big winner here.
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the wallstreetbets discord needs to be heard to be believed. it’s the modern day version of being on floor of NYSE.
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This was also my first association. I was really confused why they named their hedge fund "dweeb capital", or whether WSB was picking on them because of that name.