Hedge fund Melvin Capital lost 49% on its investments in first quarter: source

Hedge fund Melvin Capital lost 49% on its investments in first quarter: source

Hedge fund Melvin Capital lost 49% on its investments in first quarter: source

BOSTON (Reuters) – Melvin Capital, the hedge fund at the center of the GameStop (NYSE:) trading frenzy, lost 49% on its investments during the first three months of 2021, a person familiar with the matter said on Friday.

The fund, founded by Gabe Plotkin, lost 7% in March, the source added. A Melvin Capital spokesman declined to comment.

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