Thinking of Wall Street as a homogeneous entity is a big mistake. Lots of finance firms are loving this (Citadel for instance used this as an opportunity to ge

Thinking of Wall Street as a homogeneous entity is a big mistake. Lots of finance firms are loving this (Citadel for instance used this as an opportunity to get in on a distressed asset, Melvin, cheaply). This Korean fund made a billion dollars on a 12 million dollar investment https://www.google.com/amp/s/www.marketwatch.com/amp/story/large-gamestop-shareholder-must-asset-management-sold-off-its-stake-2021-01-28 https://www.google.com/amp/s/www.marketwatch.com/amp/story/l... Even Melvin didn’t take an existential beating. They are likely going to end their fund date positive which is good for the endowments they manage especially if they got there via a more diversified position than other options.