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OFFON

GAMESTOP CORP.

(GME)
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Melvin Capital gained 21.7% net of fees in February - source

03/03/2021 | 05:42pm EDT
U.S. House Financial Services Committee holds hearing on Gamestop, social media and stock short selling

BOSTON (Reuters) - 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's stock would fall, sources said on Wednesday.

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.

At the end of January Melvin received commitments of $2.75 billion in fresh cash from investors, signaling their confidence in Plotkin's abilities.

Since founding the firm in 2014, Plotkin has been considered one of the industry's most gifted stock pickers, posting an average 30% a year through the end of 2020. In 2020 Melvin Capital gained 53%.

(Reporting by Svea Herbst-Bayliss; Editing by Chris Reese and David Gregorio)

By Svea Herbst-Bayliss


© Reuters 2021
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Financials (USD)
Sales 2022 5 368 M - -
Net income 2022 -93,0 M - -
Net cash 2022 91,0 M - -
P/E ratio 2022 -116x
Yield 2022 -
Capitalization 10 818 M 10 818 M -
EV / Sales 2022 2,00x
Capi. / Sales 2023 2,09x
Nbr of Employees 23 500
Free-Float 77,3%
Chart GAMESTOP CORP.
Duration : Period :
GameStop Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GAMESTOP CORP.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 7
Average target price 40,36 $
Last Close Price 154,69 $
Spread / Highest target 13,1%
Spread / Average Target -73,9%
Spread / Lowest Target -97,7%
EPS Revisions
Managers and Directors
NameTitle
George E. Sherman Chief Executive Officer & Director
Diana Saadeh-Jajeh Senior VP, Chief Financial & Accounting Officer
Kathy Patterson Vrabeck Chairman
Angela Venuk Chief Information Officer & Vice President
Matt Francis Chief Technology Officer
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