These folks are bleeding cash and had to get another capital injection today from the Big Boy hedge funds. It's working. Remember, it costs you nothing to hold a stock, but every day this goes on Melvin Capital and those other shorting hedge funds lose millions of dollars just to cover their positions. This can only go on for so long. Eventually, they will have to cover big time and that's when the squeeze happens. Make these fuckers bleed.
EDIT: Better source so it's not just some sketchy tweet.
Citadel LLC and Point72 Asset Management are investing $2.75 billion into hedge fund Melvin Capital Management, which has been hard hit by a series of short bets to start the year. The influx of cash is expected to help stabilize Melvin, which has lost 30% for the year through Friday, said people familiar with the firm. Melvin started the year with $12.5 billion and had been one of the best performing hedge funds on Wall Street in recent years. The losses stem from Melvin’s array of short bets against companies and have stunned clients and other traders.
These folks are bleeding cash and had to get another capital injection today from the Big Boy hedge funds. It's working. Remember, it costs you nothing to hold a stock, but every day this goes on Melvin Capital and those other shorting hedge funds lose millions of dollars just to cover their positions. This can only go on for so long. Eventually, they will have to cover big time and that's when the squeeze happens. Make these fuckers bleed.
EDIT: Better source so it's not just some sketchy tweet.
:sicko-yes:
I wouldn't be in this bullshit if it wasnt for a good cause! :Care-Comrade:
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