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Mudrick Capital Gains $200 Million on AMC, GameStop Bets

  • Jason Mudrick’s firm was up 9.8% last month, among best ever
  • His hedge fund booked gains on call options and debt holdings
AMC Theaters
Photographer: Amir Hamja/Bloomberg
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Jason Mudrick’s hedge fund reaped almost $200 million on its stakes in firms that skyrocketed during a Reddit-fueled trading frenzy in recent weeks, according to people familiar with the matter.

Mudrick Capital Management earned 9.8% in January, one of its best months ever, making the bulk of its gains on debt and equity options of AMC Entertainment Holdings Inc., said the person, who asked not to be identified because the information isn’t public. The firm also profited from the volatility in shares of GameStop Corp.