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GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. [ 65 ] [ 66 ] Reports estimated that about $27 billion in value had been erased. [ 66 ] [ 67 ] Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in ...
In January 2021, Cohen's hedge fund Point72 joined Ken Griffin's Citadel in putting $2.75 billion into Melvin Capital, the hedge fund of former Cohen protege Gabe Plotkin, as a result of the GameStop short squeeze. [27] [28] Cohen denied that his involvement with the short squeeze would affect his willingness to spend money on the New York Mets ...
However, his compensation decreased in 2021, due to the impact of the GameStop short squeeze on the fund. [9] Despite receiving $2 billion from Kenneth C. Griffin and $750 million from Steve Cohen, on May 18, 2021, Bloomberg announced Melvin Capital went defunct shorting GameStop and Gabe Plotkin would be shutting down his firm. [10]
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Use this guide to find to lost money from the government, old bank accounts, former employers, insurance, taxes and more — and avoid unclaimed fund scams.
NEW YORK (Reuters) -The U.S. Securities and Exchange Commission on Monday released a report examining the frenzied trading in shares of retailer GameStop Corp, and other 'meme' stocks, in January ...
“Dumb Money” whisks us back to a time in American history, the year 2020, when Keith Gill, a Reddit and YouTube demi-celebrity, cranked up the poor little GameStop stock to improbable heights.
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