Gabe Plotkin’s Melvin Capital Ends First Quarter With 20.6% Loss
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It was another rough start to the year for investors in Gabe Plotkin’s Melvin Capital Management, with the hedge fund tumbling 20.6% in the first quarter, according to people familiar with the matter.
The fund fell 3.8% in March, marking the third straight month of declines, the people said, asking not to be identified discussing information that isn’t public. The losses follow a tumultuous 2021, when New York-based Melvin Capital ended the year down 39%.