GameStop dubbed ‘greater fool speculative bubble’ as stock price tumbles February 3, 2021 The share price of US video game retailer GameStop slid 60 per cent yesterday to $90, down from a high of $347 at the height of a Reddit-instigated short-squeeze on the stock. GameStop shares rocketed in January after a community led by Reddit forum r/wallstreetbets banded together and piled hundreds of thousands of dollars into [...]
Hedge fund Melvin Capital bags billions from investors following GameStop debacle February 1, 2021 After losing more than 53 per cent in January, Melvin Capital, the hedge fund at the centre of the GameStop drama, enjoyed a cash injection from investors in the last days of the month. The firm started the year with roughly $12.5bn, according to reports, but that dramatically dipped after it was at the centre [...]