Tech

Hedge fund Melvin sustains 53% loss after Reddit onslaught

Enlarge (credit: Innocenti | Getty Images) Melvin Capital, the hedge fund that was wrongfooted by retail traders who drove up shares in GameStop and other companies it had bet against, lost 53 percent in January, according to people familiar with the firm’s results. The New York-based hedge fund sustained a $4.5 billion fall in its […]