Plotkin’s Melvin Capital Extends First-Quarter Losses to 49%
- Fund slid 7% last month, reversing a gain in February
- Maplelane Capital is clawing way back after its GameStop loss
Gabe Plotkin
Photographer: Alex Flynn/BloombergThis article is for subscribers only.
Melvin Capital Management, the once high-flying hedge fund that lost billions of dollars after its bearish wagers were caught up in a Reddit-fueled rally, saw its first-quarter decline extend to 49%.
The fund slid 7% last month, reversing a gain of almost 22% the month before, according to people with knowledge of the matter. In January, the fund dropped 53%.