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It's not too much to ask. But Citadel is not involved in any significant way with the Gamestop fiasco. Any claims to the contrary are crackpot conspiracy theori
by dcolkitt 6y ago
It's not too much to ask. But Citadel is not involved in any significant way with the Gamestop fiasco. Any claims to the contrary are crackpot conspiracy theories without any evidence.
Citadel's a market maker that processes a lot of transactions in pretty much every stock in the universe. It'd be like me saying that someone with ties to power company shouldn't investigate the mafia, because the mafia regularly used electricity.
- belltaco 6y agoHuh? https://markets.businessinsider.com/news/stocks/steve-cohen-ken-griffin-invest-3-billion-gamestop-short-seller-2021-1-1030003305 https://markets.businessinsider.com/news/stocks/steve-cohen-...
- dcolkitt 6y agoMelvin had already closed out their short position in GME by the time Citadel invested in them. https://www.usnews.com/news/top-news/articles/2021-01-27/hedge-fund-melvin-capital-has-closed-gamestop-position-spokesman https://www.usnews.com/news/top-news/articles/2021-01-27/hed...
- sixQuarks 6y agoThat's not a verified fact. It's based on a CNBC reporter repeating what an unnamed source from Melvin told them, and even so, the way they worded it was vague, in that it could have simply been a small part of the short position that was closed. This is exactly why we need an unbiased source to look into this matter.
- dcolkitt 6y ago> It's based on a CNBC reporter repeating what an unnamed source from Melvin told them FTA: > "Melvin Capital has repositioned our portfolio over the past few days. We have closed out our position in GME (GameStop)," the spokesman said in a statement.
- byecomputer 6y agoCitadel was clearly infusing cash into Melvin to compensate for Melvin's massive losses on GME, though. What's the significance of Melvin's position in the stock in the few days before or after Citadel bailed them out when the reasons remain the same?