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Melvin Backer Point72 Suffers 15% Loss Over GameStop Short Squeeze: NYT – Benzinga
Point72 has suffered a loss amounting to nearly 15% this year — thanks to the sharp uptick in the shares of GameStop Corporation (NYSE: GME), a person …
Point72 has suffered a loss amounting to nearly 15% this year — thanks to the sharp uptick in the shares of GameStop Corporation (NYSE: GME), a person familiar with the matter told the New York Times.
What Happened: The hedge fund run by Steve Cohen — the owner of New York Mets — suffered the losses due to its investment in Melvin Capital, another fund that bet against the gaming retailer’s stock, the Times reported Wednesday.
Cohen was asked on Twitter if the losses would affect the Mets.
Why…
