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Melvin Capital Has Another Bad January After Raising $6 Billion in 2021

  • Gabe Plotkin’s firm tumbled 15% last month, trailing market
  • The hedge fund needs to rise 94% from this point to break even
Gabe Plotkin

Gabe Plotkin

Photographer: Alex Flynn/Bloomberg

Melvin Capital Management, after raising almost $6 billion last year, just booked another January of steep losses.

Gabe Plotkin’s hedge fund tumbled 15% last month, according to a person familiar with the matter, compared with a 9% drop for the tech-heavy Nasdaq Composite Index and 5.3% decline for the S&P 500.