Tag Archives: Ken Griffin

Dow and S&P log worst month since October, while GameStop continues to soar – CNN

It’s been a messy week for the three benchmarks, including all-time highs for the S&P and Nasdaq on Monday, which was also the worst day since October for the Dow. GameStop is not listed on those indexes. But it is a constituent of the Russell 2000 (RUT) index, which includes only smaller stocks. On Thursday, […]

Melvin Capital hedge fund lost 53% in the GameStop frenzy – CNN

Last week, Citadel, a hedge fund owned by billionaire Ken Griffin, provided the firm with a more-than-$2-billion bailout. “The fund’s portfolio liquidity is strong,” the source said. “Use of leverage is at the lowest level since Melvin Capital’s inception in 2014.” Melvin found itself at the heart of the GameStop saga after Robinhood suspended trading […]

Chicago billionaire Ken Griffin faces heat in GameStop saga – Chicago Tribune

Chicago billionaire Ken Griffin is playing an unwanted and unexpected role in the Wall Street saga involving trading app Robinhood and heavily shorted stocks such as GameStop. This content was originally published here.

Robinhood CEO expected to testify before Maxine Waters’ panel on GameStop – POLITICO

House Financial Services Chair Maxine Waters (D-Calif.) and other Democrats are vowing to investigate what role Wall Street hedge funds may have played in the move to halt trading. House Financial Services Chair Maxine Waters (D-Calif.) arrives for a committee hearing. | Getty Images Robinhood, which has grown rapidly as an easy-to-use platform for individual […]

GameStop Frenzy Puts Spotlight on Trading Giant Citadel Securities – WSJ

Small investors banding together online to pump up stocks like GameStop Corp. say they are defying Wall Street. But one of the biggest players in global markets stands to benefit from their frenetic trading. Citadel Securities, the electronic-trading firm owned by hedge-fund billionaire Ken Griffin, has played a quiet but critical role in the frenzy […]

Victim of GameStop frenzy developing $44M Miami mega-mansion

The hedge fund manager hit hardest by the GameStop trading frenzy is in the middle of a major redevelopment of a $44 million mega-mansion in Miami — despite his company losing $4.5 billion in the mania, according to a report. Short-seller Gabe Plotkin’s Melvin Capital Management lost 53 percent in January — ending the month […]

Barstool founder Dave Portnoy sells GameStop, AMC shares at $700K loss

Davey Day Trader has bailed out on his stonks. Outspoken social media personality Dave Portnoy tweeted Tuesday that he has sold his shares in companies GameStop and AMC at a major loss, blaming trading app Robinhood for killing the so-called “Reddit Rally” that he joined and helped promote in recent weeks. “I have officially sold […]

Mets fans worried over Steve Cohen’s GameStop involvement

Mets owner Steve Cohen’s attempt to bail out a former business protege’s investment firm has some fans worried. Cohen joined forces this week with fellow finance tycoon Ken Griffin to help bail out Melvin Capital, a hedge fund that placed a sizable bet against GameStop’s stock. Melvin took a beating as rookie investors on Reddit […]

Mets’ Steve Cohen explains Twitter exit amid GameStop saga

Steve Cohen’s Twitter adventure is officially on hiatus. The Mets’ new owner released a statement Saturday morning explaining why his Twitter account, which had showcased a little-known playful side of the hedge-fund magnate as he engaged with Mets fans, was deactivated Friday night. “I’ve really enjoyed the back and forth with Mets fans on Twitter […]