Melvin Capital (2014-2022)
firmMoney & Finance · Media & Managed Opposition
The hedge fund that got crushed betting against GameStop and then quietly took a $2 billion bailout.
Who they are
Melvin Capital (2014-2022), a hedge fund founded by Gabe Plotkin.
What they do
It was the main fund betting against GameStop stock during the January 2021 meme-stock frenzy.
How it works
As GameStop soared, Melvin took $2B from Citadel and $750M from Point72 as emergency cash on January 25, 2021, lost about 53% that month, and shut down in May 2022 after roughly $15B in total losses.
Why it matters
The engine reads it as the 'sacrificial' loser whose collapse fed the popular story that hedge funds were defeated by small investors.
The engine's record — word for word
Hedge fund founded by Gabe Plotkin (2014). Primary manager of the GME short position entering Jan 2021. Absorbed $2B from Citadel LLC + $750M from Point72 on Jan 25 2021 as emergency capital. Lost ~53% in January 2021. Wound down May 2022 after ~$15B cumulative losses across 2021-2022. Structural function: sacrificial capital required for 'hedge funds defeated' narrative.
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