That was more than a year ago, but the fallout isn’t quite over just yet.
Melvin Capital Management, a hedge fund led by Gabe Plotkin, is closing its doors.
The fund was reportedly unable to bounce back from the damage it took during the 2021 GameStop short squeeze.
Plotkin’s decision was announced to clients on Wednesday in a letter,according to Bloomberg.
Melvin Capital declined to comment.
I now recognize that I need to step away from managing external capital."
