The hedge fund, which has come to exemplify the worst of Wall Street for a band of individual investors, has rung up a 49% first-quarter loss, according to a report from Bloomberg News on Friday.
The reports of deepening pain for Plotkin come after his fund plummeted 53% in January thanks to an unprecedented short squeeze engineered by the retail traders who were seen targeting the fund using social media like Reddit and Discord and no-fee trading platforms like Robinhood to drive up share values in GameStop and AMC.
Melvin’s loss is being hailed by others as “the ultimate loss porn,” on a number of threads, with “loss porn” representing the Reddit crowd’s way of describing schadenfreude.
Piece of shit reporting 😄🤣
So we just found out that marketwatch is owned by citadel. All the pieces falling into place..........
LOL are you guys not tired of repeating yourselves? smh unless...this is dejavu 😅
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