GameStop Skeptics Citron, Melvin Succumb to Epic Short Squeeze
- Stock had soared in premarket trading following Musk tweet
- Short sellers under ferocious attack from retail investors
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Melvin Capital and Citron Capital closed out of their short positions on GameStop Corp. as the firms succumbed to the stock’s meteoric ascent.
Melvin Capital closed its position after repositioning its portfolio, according to a spokesperson. Citron Capital’s Andrew Left also said Wednesday that the firm covered the majority of its GameStop short bets at “a loss of 100%” in a YouTube video.