Melvin Capital one of many
CNBC's David Faber earlier today wrote that Melvin Capital "is in trouble" after suffering "massive losses" and the infusion from Citadel and Point72 "is probably gone".
The $12B fund is not the only ones in the firing line and Faber said "any number of large of large hedge funds have suffered significantly."
How much? Analytics firm Ortex says shorts are sitting on $70.87B in losses in US companies so far this year. It's not just GME either (shown above), Ortex says shorts were underwater in more than 5000 US companies.
If anything, I'd expect the losses to be much larger due to the magnification of derivatives but either way that's a huge number.
