LYV - The rise and fall of Melvin Capital - a timeline

Melvin Capital, the hedge fund hit with billions of losses in the 2021 meme-stock frenzy, has called it quits and will return investors' money, according to media reports on Thursday. Here's a brief look a the hedge fund's history. 2014: Melvin Capital is founded in 2014 by Gabriel Plotkin, who had previously worked at Ken Griffin's Citadel LLC and Steve Cohen's SAC Capital, and named the firm after his grandfather. He raised almost $1B to start the fund. 2015: The hedge fund posted a return of 46% in its first full year of operation, putting it second on Bloomberg's 2015 list of top-performing funds with $1B or more under management. 2015: For the full-year 2015, most of its 67% of returns (before fees) came from its short positions, including bets against JC Penney and SunEdison, both of which eventually went bankrupt. 2017: The Wall Street Journal reported that about a

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The rise and fall of Melvin Capital — a timeline