SCOOP (1/4): @FoxBusiness has confirmed Melvin Capital considered a "range of options" including selling itself or liquidating amid massive $GME losses, but the firm has sharply reduced leverage & ppl there believe the worst is over. Obviously the situation is fluid. Sources also
(2/4) say Citadel @citsecurities discussed a buyout w Melvin mgt, but Melvin ultimately demurred through a massive deleverage. The firm believes it can survive now that it has money from Pt. 72 and Citadel combined w much lower leverage that will reduce portfolio volatility.
(3/4) @FoxBusiness has confirmed @SEC_Enforcement interest in how $GME rose from a penny stock to trading above $300 via @RobinhoodApp - @reddit traders. @FoxBusiness has also confirmed that @StevenACohen2's Pt72 has a significant investment in Melvin Cap,
(4/4) so there will be losses to his portfolio. Unclear if they are significant and keep in mind that his Melvin investment made a lot of money over the years. Story developing
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