they had to spend money they didnt have to go buy more stock to try and rescue their asses by selling it later. they are in a word, overleveraged, with "zero hedge". they wanted gme under 100 and it is back at 350. massive fail. they wont last. they wanted to zero amc out and it is back up at 15. cultural attack too since if states reopen, more go to movies. if they dont, more game playing purchases. https://www.cnbc.com/2021/01/27/hedge-fund-targeted-by-reddit-board-melvin-capital-closed-out-of-gamestop-short-position-tuesday.html
Melvin Capital, hedge fund targeted by Reddit board, closes out of GameStop short position
Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund's manager told CNBC.
https://www.cnbc.com/2021/01/27/hedge-fund-targeted-by-reddit-board-melvin-capital-closed-out-of-gamestop-short-position-tuesday.htmlI've seen that, and I don't doubt it's true. But that tweet appears to be fake.