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Old February 20th, 2021 #7
Stewart Meadows
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Join Date: May 2018
Posts: 12,252
Stewart Meadows

Gabe Plotkin, hedge funder who tried to short GameStop, tells Congress he received anti-Semitic messages

FEBRUARY 19, 2021 1:10 PM

(JTA) — Gabe Plotkin, the head of one of the hedge funds that bet on the demise of GameStop, testified before the House Financial Services Committee that he received anti-Semitic messages from members of the Reddit forum that tried to save the video game store.

“Many of these posts were laced with antisemitic slurs directed at me and others. The posts said things like ‘it’s very clear we need a second holocaust, the jews can’t keep getting away with this.’ Others sent similarly profane and racist text messages to me,” Plotkin wrote in written testimony.

Plotkin’s Melvin Capital fund — which he notes was named after his grandfather — was hit hard after a wave of Reddit users rushed to invest in GameStop last month in an effort to save the company. Melvin and other funds had been seeking to short the company’s stock, or make a significant profit off its failure.

In the end, Plotkin asked fellow Jewish investors, including New York Mets owner Steve Cohen, for a cash injection of $2.75 billion to keep his fund afloat