diff --git a/Institutions/Hedge-Funds/Melvin-Capital/2021-07-12-Melvin-Cant-Even-Pay-Its-Employees.md b/Institutions/Hedge-Funds/Melvin-Capital/2021-07-12-Melvin-Cant-Even-Pay-Its-Employees.md new file mode 100644 index 0000000..e808aef --- /dev/null +++ b/Institutions/Hedge-Funds/Melvin-Capital/2021-07-12-Melvin-Cant-Even-Pay-Its-Employees.md @@ -0,0 +1,18 @@ +Short Losses Pile Up... Melvin Capital Can't Even Pay Its Employees... +====================================================================== + +| Author | Source | +| :-------------: |:-------------:| +| [u/ThatGuyOnTheReddits](https://www.reddit.com/user/ThatGuyOnTheReddits/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oirfr1/short_losses_pile_up_melvin_capital_cant_even_pay/) | + +--- + +[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1) + + + +*"Melvin Capital Management, which lost more than $6 billion in January, is now down 46% for the year through June, the fund recently told investors. Maplelane Capital is down 39% for the period. Some other funds that sustained lesser losses in the January meme-stock surge are doing better. Steven A. Cohen's $22 billion Point72 Asset Management and the $20 billion D1 Capital Partners are up about 1% and 3.8% for the first half of the year, respectively, said people familiar with the funds' performance."* + +*"Melvin now says it lost 54.5% in January, more than its 53% estimate at the time, said people familiar with the firm. Maplelane lost about 45% that month."* + +"Both funds have since raised new money on which they can charge management and performance fees, helping to pay their employees until they make up losses."