Bloomberg’s Katherine Burton and Katherine Doherty reported on Tuesday that hedge fund Mudrick Capital booked a profit of around $200 million on positions in both GameStop and AMC Entertainment (AMC). Mudrick, which has about $3 billion under management, returned just under 10% in January according to Bloomberg, marking one of its best months since inception.
Late last week, we learned that investment firm Silver Lake had made about $113 million after converting $600 million worth of debt in AMC to equity and then selling the entire position during the massive surge in the stock price.
And a report from Bloomberg on Tuesday said Steve Cohen’s Point72 — which injected $750 million into struggling hedge fund Melvin Capital last week amid a short bet on GameStop gone wrong — has raised some $1.5 billion after re-opening the fund for fresh capital amid what sources called an attractive investing backdrop.
More bourgies making yuge profits:
https://finance.yahoo.com/news/hedge-funds-mudrick-silverlake-point72-gamestop-party-morning-brief-110406546.html
Bloomberg’s Katherine Burton and Katherine Doherty reported on Tuesday that hedge fund Mudrick Capital booked a profit of around $200 million on positions in both GameStop and AMC Entertainment (AMC). Mudrick, which has about $3 billion under management, returned just under 10% in January according to Bloomberg, marking one of its best months since inception.
Late last week, we learned that investment firm Silver Lake had made about $113 million after converting $600 million worth of debt in AMC to equity and then selling the entire position during the massive surge in the stock price.
And a report from Bloomberg on Tuesday said Steve Cohen’s Point72 — which injected $750 million into struggling hedge fund Melvin Capital last week amid a short bet on GameStop gone wrong — has raised some $1.5 billion after re-opening the fund for fresh capital amid what sources called an attractive investing backdrop.