Page 54 - Gabe Plotkin News Today

In easy terms anyone can understand, the three-part report details how subversive, upstart investors took on the Wall Street giants.

The top US securities regulator is probing Melvin Capital Managements risk controls and investor disclosures after the hedge fund was decimated in last years meme-stock frenzy.

Melvin Capital Management, the hedge fund that closed earlier this year after being partially bailed out by Citadel founder Ken Griffin, is being investigated over whether the firm misled investors.

Failed GME short hedge fund Melvin Capital is being investigated by the SEC.

Hedge fund manager Gabe Plotkin, who boasted one of Wall Streets best investing records, on Wednesday told investors that he is shutting down his firm, Melvin Capital, after it suffered billions of

Reporter:some breaking news this morningon this gamestop story. gabe plotkin saying thatmelvin capital has been out, closed out its position. - the numbers and whathes down is dramatic. so the questionwill become there, what is the futureof that firm? unclear. stock expert: around 10:30or 11 oclock in the morning, it comes out that thisbig fund, melvin capital, is short the stock andfeeling the pain, and they are takingmassive losses. this really emboldensthe wallstreetbets crowd. they justtook ...

And they have a marketmaker. - mr. griffin, why is this not consideredmanipulating a stock whenever you can shortsell to 140%? dont youthink there should be a limit on something like that? ken griffin:im not sure its worth us delvinginto legislative corrections for a very unique situation, in terms of the extremesize of the short interest. - why is it that a stockcan be shorted over 100%? i dont even knowhow youre allowed to do that. congressman: mr. plotkin, you made the commentin your testimon...

Ken griffin,melvin capital ceo gabe plotkin, and roaring kitty,the trader keith gill. reporter:no doubt lawmakers are furious and they want to havehearings about this. the problem is goingto most likely be that the systemis designed terribly. the system gets abused.and they need to make changes. - first of all, to me, this was a whole dogand pony show. - first, robinhood securitiesput the restrictions in place in an effort to meet increasedregulatory deposit requirements,not to help hedge funds....

Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media

In this article, we talk about the 10 best stocks to buy now according to billionaire Steve Cohen.