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London-based hedge fund that bet against GameStop shuts down - FT

Published 06/22/2021, 12:23 AM
Updated 06/22/2021, 12:26 AM
© Reuters. FILE PHOTO: GameStop logo is seen in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

© Reuters. FILE PHOTO: GameStop logo is seen in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - A London-based hedge fund that suffered losses betting against U.S. retailer GameStop Corp (NYSE:GME) during the first meme stock rally in January is shutting down, the Financial Times reported on Tuesday.

White Square Capital has told investors that it will shut its main fund and return capital this month after a review of its business model, the newspaper said, citing people familiar with the fund and a letter to investors.

© Reuters. FILE PHOTO: GameStop logo is seen in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

White Square suffered double-digit percent losses in January, the report added https://on.ft.com/3gIEJJR.

The firm did not respond to a Reuters request for comment outside of regular U.K. business hours.

Latest comments

1 criminal hedge fund down. 999 to go. Nothing can stop the MOASS. Buckle up! 🚀🚀🚀
They should change their name to Red Circle.
lol
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