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By Syndicated Content
By Svea Herbst-Bayliss
BOSTON (Reuters) - Prominent hedge funds including Dan Sundheim s D1 Capital Partners and Steve Cohen s Point72 Asset Management chalked up deep losses last month as hotly traded Gamestop hurt returns while others like Jason Mudrick s Mudrick Capital posted gains during January s turbulent trading, investors in the funds said on Tuesday.
The bulk of January s hedge fund returns were influenced by a late-month rally in unloved stocks including GameStop and AMC Entertainment. The Standard & Poor s 500 index ended January down 1.1%, with the vaccine rollout and stimulus plans a large focus for the month.
Melvin Capital, one of the biggest funds betting on a drop in GameStop s share price lost 53% in January when the stock price was forced higher by an army of retail investors using the Robinhood online trading app.
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BOSTON (Reuters) - Prominent hedge funds including Dan Sundheim’s D1 Capital Partners and Steve Cohen’s Point72 Asset Management chalked up deep losses last month as hotly traded GameStop hurt returns while others like Jason Mudrick’s Mudrick Capital posted gains during January’s turbulent trading, investors in the funds said on Tuesday.
GameStop logo is seen in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration
The bulk of January’s hedge fund returns were influenced by a late-month rally in unloved stocks including GameStop and AMC Entertainment. The Standard & Poor’s 500 index ended January down 1.1%, with the vaccine rollout and stimulus plans a large focus for the month.