Melvin Capital, Hedge Fund That Shorted GameStop, Is Shutting Down - The New York Times

The firm lost billions of dollars as it scrambled to cover its bets against the video game retailer that became a darling of retail traders.

Instead, the stocks skyrocketed when amateur investors, coordinating via Reddit, Twitter and other social media sites and determined to outsmart big Wall Street funds, kept buying up shares and propp… [+970 chars]

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