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GAMESTOP CORP.

(GME)
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GameStop : London's White Square Capital shuts after swallowing lofty GameStop losses

06/22/2021 | 02:50am EDT

London-based hedge fund White Square Capital will close its doors today, according to reports, following its lofty losses in GameStop’s first ‘meme stock’ rally in January.

White Square bet against the US retailer GameStop, the Financial Times first reported today, which led to a percentage loss hitting double-digits at the beginning of an already tough financial year – and after an even tougher one.

According to people familiar with the fund and a letter to investors, the hedge fund has told investors that it will close its main fund and return capital this month after a review of its business model.

Earlier this month, so-called ‘meme stocks’ have received $1.27bn (£900m) of retail inflows, Vanda Research said.

The figure matched their peak in January when the surge in Gamestop shares squeezed short-sellers, lifting the stock price further. 

City A.M. has contacted White Square Capital for comment.

The post London hedge fund White Square Capital shuts after swallowing lofty GameStop losses appeared first on CityAM.

© City AM, source Newspaper

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Analyst Recommendations on GAMESTOP CORP.
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Financials (USD)
Sales 2022 5 666 M - -
Net income 2022 -84,4 M - -
Net Debt 2022 - - -
P/E ratio 2022 -335x
Yield 2022 -
Capitalization 13 948 M 13 948 M -
Capi. / Sales 2022 2,46x
Capi. / Sales 2023 2,52x
Nbr of Employees 23 500
Free-Float 82,1%
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Technical analysis trends GAMESTOP CORP.
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Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 184,52 $
Average target price 37,00 $
Spread / Average Target -79,9%
EPS Revisions
Managers and Directors
Matthew Furlong President, Chief Executive Officer & Director
Mike Recupero Chief Financial Officer
Ryan Cohen Chairman
Angela Venuk Chief Information Officer & Vice President
Matt Francis Chief Technology Officer
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