{"id":108595,"date":"2021-03-04T00:24:53","date_gmt":"2021-03-04T00:24:53","guid":{"rendered":"https:\/\/fin2me.com\/?p=108595"},"modified":"2021-03-04T00:24:53","modified_gmt":"2021-03-04T00:24:53","slug":"melvin-capital-gained-21-7-net-of-fees-in-february-source","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/","title":{"rendered":"Melvin Capital gained 21.7% net of fees in February &#8211; source"},"content":{"rendered":"<figcaption>FILE PHOTO: Gabriel\u202f Plotkin, CEO of Melvin Capital Management, is seen in a video framegrab as he testifies about stock trading and GameStop during an entirely virtual hearing of the U.S. House of Representatives Committee on Financial Services committee hearing, in Washington, U.S., February 18, 2021.    House Committee on Financial Services\/Handout via Reuters<\/figcaption><p>BOSTON (Reuters) &#8211; Melvin Capital, the hedge fund at the center of the GameStop trading frenzy, gained 21.7% last month, helping wipe away some of the heavy losses it suffered when it bet that the video retailer\u2019s stock would fall, sources said on Wednesday.<\/p>\n<p>The fund, founded by Gabe Plotkin, lost 53% in January when retail investors joined forces to drive up the stock to trade at more than $400 a share. Plotkin had bet that GameStop stock, which had traded at less than $5 a share in 2020, would fall.<\/p>\n<p>At the end of January Melvin received commitments of $2.75 billion in fresh cash from investors, signaling their confidence in Plotkin\u2019s abilities.<\/p>\n<p>Since founding the firm in 2014, Plotkin has been considered one of the industry\u2019s most gifted stock pickers, posting an average 30% a year through the end of 2020. In 2020 Melvin Capital gained 53%.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/hedgefunds-melvin\/update-1-melvin-capital-gained-21-7-net-of-fees-in-feb-source-idUSL2N2L13LC\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: Gabriel\u202f Plotkin, CEO of Melvin Capital Management, is seen in a video framegrab as he testifies about stock trading and GameStop during an [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":108594,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Melvin Capital gained 21.7% net of fees in February - source - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Melvin Capital gained 21.7% net of fees in February - source - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: Gabriel\u202f Plotkin, CEO of Melvin Capital Management, is seen in a video framegrab as he testifies about stock trading and GameStop during an [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T00:24:53+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/03\/cnewsfotor96-2.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/\",\"url\":\"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/\",\"name\":\"Melvin Capital gained 21.7% net of fees in February - source - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-03-04T00:24:53+00:00\",\"dateModified\":\"2021-03-04T00:24:53+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/business\/melvin-capital-gained-21-7-net-of-fees-in-february-source\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/fin2me.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Melvin Capital gained 21.7% net of fees in February &#8211; 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