Who are the hedge funds GameStop? (2024)

Who are the hedge funds GameStop?

Major Hedge Funds Affected: Among the hedge funds that faced significant losses due to their positions against GameStop: Melvin Capital: Experienced a 49% loss in its investments in the early months of 2021 and required a $3 billion bailout.

Which hedge fund is GameStop?

Major Hedge Funds Affected: Among the hedge funds that faced significant losses due to their positions against GameStop: Melvin Capital: Experienced a 49% loss in its investments in the early months of 2021 and required a $3 billion bailout.

Who is the hedge fund guy for GameStop?

The Goliaths are some familiar real-life figures: Gabe Plotkin, founder of the hedge fund Melvin Capital, who bets against GameStop; Steve Cohen, Plotkin's mentor; Ken Griffin, the founder of Citadel and Citadel Securities who reportedly really does not like the film; and Vlad Tenev, co-founder of the trading app ...

Who is the main investor in GameStop?

Who made money off of GameStop?

Keith Gill learned about investing and became convinced that GameStop stock was undervalued, sharing this belief with others on Twitter (now X) with the handle RoaringKitty. He initially purchased $53,000 worth of GameStop stock in 2019. At the height of the GameStop surge, Gill's stock was valued at $48 million.

What hedge fund is losing billions GameStop?

But the masses' collective action proved shockingly powerful: they pushed GameStop's price from under $3 to as high as $483 in late January 2021, causing the hedge funds that had bet against it to lose billions of dollars.

What happened to Citadel after GameStop?

The hedge fund Citadel pumped billions of dollars into Melvin Capital after that fund's bet against GameStop went bad, leading to huge losses. Now, Citadel is taking some of its money back.

Why did hedge funds lose on GameStop?

In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers.

Why did Michael Burry buy GameStop?

Burry's hedge fund Scion Asset Management disclosed it bought 5.3% of ailing video game retailer GameStop GME -1.2% at between $2 and $4.2 a share, spending about $15 million in total. Burry's play was to urge GameStop to use its cash to buy back stock, potentially retiring about half of its shares outstanding.

Who is the rich hedge fund guy?

Kenneth Cordele Griffin (born October 15, 1968) is an American hedge fund manager, entrepreneur and investor. He is the founder, chief executive officer, co-chief investment officer, and 80% owner of Citadel LLC, a multinational hedge fund.

Who does GameStop partner with?

GRAPEVINE, Texas --(BUSINESS WIRE)--Sep. 7, 2022-- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has entered into a partnership with FTX US (“FTX”). The partnership is intended to introduce more GameStop customers to FTX's community and its marketplaces for digital assets.

Who owns the majority of GameStop stock?

GameStop (GME) Ownership Overview

Approximately 30.26% of the company's stock is owned by Institutional Investors, 18.07% is owned by Insiders and 51.68% is owned by Public Companies and Individual Investors.

Who are the investors in GameStop?

Institutional investors represent approximately 27.65% of GameStop's outstanding shares, equating to roughly $1.23 billion in market value. Key among them are Vanguard, BlackRock (BLK) , and State Street Corp. (STT) , which hold 8%, 7%, and 2% of the company's total outstanding shares, respectively.

Is the GameStop guy still rich?

Gill last posted publicly online in early 2021. According to the film, he was worth $34 million at that time, although it's unclear whether he's held onto his GameStop shares or what his net worth is now. “He completely retreated from the public eye, so it's all speculation at this point,” Gillespie says.

Who earned the most from GameStop?

That's how 2021′s top-performing hedge fund, Senvest Management, was able to notch $700 million in profit from GameStop and bring its annual return to more than 85%. The trade was the firm's single best in its 25 years in existence.

How rich is GameStop?

GameStop Market Cap

GameStop has a market cap or net worth of $4.62 billion as of March 5, 2024. Its market cap has decreased by -22.33% in one year.

How much did Gill make on GameStop?

At its peak, Reuters valued Gill's GameStop stock at $48 million. Those who have followed the saga are split on whether Gill ever sold any of the stock or if he's still holding onto most of it.

What is the biggest hedge fund loss in history?

One of the most infamous hedge fund losses occurred in 1998 when Long-Term Capital Management (LTCM), a highly leveraged fund managed by a team of Nobel Prize-winning economists, collapsed and lost $4.6 billion in less than four months.

How much did Kitty make on GameStop?

Keith Gill Could Have Made $48 Million From GameStop Stocks

On January 27, 2021, his screenshot revealed that his GameStop position was worth $47,973,298.84. The majority of this total came from the 50,000 shares and 500 price options, while $13,840,298.84 was attributed to his cash total.

What is the Citadel scandal?

The day before the trading halts, Citadel and Robinhood were accused of colluding to manipulate the market, leading to widespread controversy. Despite this scandalous event, Griffin emerged before the House Financial Services Committee on February 18 to justify his actions.

What is the Citadel controversy?

In September 2023, the SEC initiated legal action against Citadel Securities, citing violations of Regulation SHO. The SEC found that, between 2015 and 2020, Citadel Securities mismarked millions of sell orders due to a coding error in their automated trading system, obstructing regulatory oversight.

Who owns Citadel?

Founded in 1990 by Ken Griffin, it has more than $62 billion in assets under management as of December 2022. The company has over 2,600 employees, with corporate headquarters in Miami, Florida, and offices throughout North America, Asia, and Europe. Founder, CEO and Co-CIO Griffin owns approximately 85% of the firm.

Could GameStop happen again?

Whether the exact events that happened during the GameStop phenomenon could ever be replicated is highly unlikely, most experts say.

Is GameStop out of business?

GameStop isn't dying yet, per se. They're still a multi-billion dollar business. But their niche in the industry is shrinking, and it will eventually be nonexistent.

Is Robin Hood still in business?

As of December 2023, Robinhood had 23.4 million funded accounts and 10.9 million monthly active users. In April 2022, Robinhood rolled out a cryptocurrency wallet to more than 2 million users. Robinhood Markets, Inc. U.S.