(Bloomberg) — Gabe Plotkin’s Melvin Capital Management ended the first half of 2021 down 46% as the hedge fund struggled to bounce back from a vicious attack by Reddit traders on its short positions.
The firm, which plunged in January as its bearish bets on companies including GameStop Corp. and AMC Entertainment Holdings Inc. were besieged by a retail-driven buying spree, was up about 1% in June, according to people familiar with the matter. Melvin now calculates its loss in the first…
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