Tag Archives: Illinois

Robinhood Customers Sue Over Removal of GameStop, Others (1)

Robinhood Markets was hit by at least two customer lawsuits after restricting transactions on stocks including GameStop Inc. following a frenzied runup driven by Reddit-inspired traders. Robinhood was named as a defendant in federal lawsuits filed in Manhattan and Chicago on Thursday. In the New York suit, Robinhood user Brendon Nelson, of Massachusetts, said the […]

Hedge fund behind shorting GameStop reports 53% loss in January

Melvin Capital started 2021 with $12.5 billion in assets before retail investors from Reddit caused the firm to lose billions on its GameStop short positions. According to a Wall Street Journal report, the hedge fund has a little more than $8 billion in assets at the end of January, which includes a $2.75 billion investment […]

Man charged with armed robbery of Joliet GameStop

JOLIET, Ill. – A man is accused of stealing video games and a video game console from a store in suburban Joliet. Jocqui McGee, 25, allegedly walked into a GameStop store, 1530 Route 59, about 5:30 p.m. Saturday and spoke to an employee about buying the games and the console, Joliet police said. Then, McGee […]

Reddit hammers hedge fund Melvin Capital with GameStop play – Chicago Tribune

A GameStop store in Des Plaines, Ill. Two hedge funds are bowing out of their short positions on the money-losing video game retailer. Citron Research’s Andrew Left said in a video posted on YouTube that his company is going to become more judicious in shorting stocks. Melvin Capital is also exiting GameStop, with manager Gabe […]