Michael Burry, the hedge fund investor who first put GameStop on the radar, calls its surge ... [+] unnatural and dangerous. In 2006, billionaire John Arnold traded against Brian Hunter of hedge fund Amaranth Advisors on a giant trade (long March/Short April) in natural gas futures. Hedge fund Melvin Capital, one of GameStop’s largest disclosed shorts, has lost a boatload on GameStop’s squeeze. That was good enough for a 43% jump in GameStop shares in after-hours trading. The 3.4 million shares Burry purchased for about $15 million would be worth over $1 billion at current prices.

Source: Forbes January 27, 2021 02:20 UTC