Related: Anchorage Capital closes after betting against AMC stock. It was time for this revolution to happen. Recently, hedge fund losses have amounted to more than $100 million on GameStop alone! By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Under the plan being discussed by Melvin Capital founder Gabe Plotkin, the hedge fund would shut at the end of June, according to a CNBC report. https://www.cnbc.com/2021/10/04/ken-griffins-citadel-flagship-hedge-fund-returns-8percent-in-september-during-market-sell-off.html. Citadel just redeemed $500m from Melvin Capital, I personally think this means Citadel are running out of cash, and have just squeezed Melvin for every last penny, putting both of them in a. We have a lot of analysts, we require a lot out of them. Key Takeaways. He previously said GameStop will fall back to $20 a share "fast" and called out attacks from the "angry mob" that owns the stock. I think these drops are all the result of Melvin Capital receiving a margin call but they stayed holding positions acquired with cash. While youre not wrong Jim, retail investors within the AMC community are known as apes, not wallstreetbets. Gabe Plotkin was a top portfolio manager at Point72s predecessor firm, SAC Capital Management, before leaving to start Melvin Capital. A margin call is a warning that you need to bring your margin account back into good standing. And while Plotkins losses have been large and public, some even speculated that this was more about Citadels problems than Melvins. Griffin infused Plotkin with the cash at the height of Januarys 2021 short squeeze on meme stocks, a move that Apes saw as one Wall Street fat cat bailing out another. Investing on margin. If they did it, make them pay. and our Clients have also been given an ultimatum, making it nearly impossible to return should they leave. Melvin Capital and Light Street Capital, two US hedge funds hard hit by the January rally in stocks popular with retail investors, suffered further losses in May. Slumping tech and property activity arent yet pushing the broader economy into recession. This so-called high water mark, which requires hedge fund managers to return their investors' capital to par prior to earning fees, is virtually impossible for Plotkin to meet on much of the capital in Melvin, given the fund's losses of 39% last year and at least 21% so far this year. It should be noted that Melvin Asset Management has been in recent years, a top-performing hedge fund, and that founder Gabe Plotkin had been a high level portfolio manager at Steve Cohen's SAC. Shameful, disgusting, horrible behavior.. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Welcome to Franknez.com the blog that protects retail investors from FUD media. He launched his hedge fund in 1956 with $105,100 in . Got a confidential news tip? GME, [1], During his time at SAC Capital, Plotkin was the recipient of illegal insider information according to federal prosecutors. [4], Subsequent to the GameStop short squeeze event, Melvin Capital disclosed that it is the target of at least nine lawsuits relating to its behavior during that period. I made a mistake. Whether that has affected the sometimes-pugnacious billionaire who has trolled his retail critics a few times in the last few months, it definitely makes it hard to call the latest investigations a bad comedy joke as he did with an SEC investigation into the January 2021 squeeze. "[33], In May 2022, Bloomberg News reported that Melvin Capital planned to close its funds and return the cash to its investors by June 30. Melvin Capital's fund was down 21% in the first quarter of 2022. Thank you again for contributing! Citadel might just end up bankrupting some of its partners. Sovereign Investor Leadership Conference March 2023, BAILED: Citadel and Point72 to Provide $2.75 Billion for Melvin Capital. Melvin's most recent balance sheet on Fintel lists $22B in AUM, as of 01/31/2021 Melvin had $8B in AUM meaning that Melvin lost at minimum $15B in January. This process coming from a companies upper management could lead the SEC to take more serious action. A Division of NBCUniversal. The firm uses a bottom-up, fundamental research-driven . This named stocks is not a complete list of puts. Okay so, remember January? AMC Entertainment and GameStop stock are just getting started. [4], In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. No ape wants such an event to be at the cost of real lives. Hedge fund Melvin Capital had suffered massive losses on its shorts and margin calls. Hedge Funds finding itself in some sort of mess is nothing new on Wallstreet, from the infamous CDO's of 2008 driven by greed to the public takedown of Melvin Capital by Reddit's Wallstreet Bets, the big money on Wall Street has had some big losses. Melvin was down 21% in the first quarter,but investors told The Post they were hopeful Plotkin who was once a protgof hedge fund titan Steve Cohen would turn it around. If you remove the $2.75B "infusion" from the total $8B AUM reported it's $5.25B, exactly half of $5.25B is $2.625B. From this it can be observed that between 12/31/2020 and 01/31/2021 Melvin lost a MINIMUM $14B and could have lost well up to $16.25B total assets if that $8B includes leveraged gained using the $2.75B from Kenny and Stevie-boy. [28] During the height of the squeeze, Melvin was reportedly losing more than a billion dollars a day. A margin call is not good news. U.S. stocks end sharply higher, Dow snaps four straight weeks of losses amid signs of a resilient economy. hedge funds like Melvin Capital took short positions in the company. Here's how to calculate a margin call: Margin call amount = (Value of investments multiplied by the percentage margin requirement) minus (Amount of investor equity left in margin account) Here's the formula using the hypothetical investor example above: $500 = ($6000 x 0.25%) - ($1,000) Investors can also calculate the share price at . As more retail investors discover that AMC has the perfect set up for a MOASS (mother of all short squeezes), hedge funds will subsequently lose several more billions of dollars in the coming weeks. soared 12.4% as retail investors digested global unrest and some trouble for one or maybe two Wall Street opponents. I believe That $8B number represents Melvin Capital's AUM after a $2.75B "infusion" and any margin they were able to gain access to between Jan 24th and Jan 31st. His tweet seemed to intensify the rally in the previous session. The secret to stocks success so far in 2023? As will take place when the MOASS occurs, the broker/dealer (remember we don't know where Melvin bought their shorts, it could very well be Citadel, or another completely random broker/MM) who lent to Melvin would've had to decide to bankrupt themselves to attempt to cover and realized covering without going bankrupt was impossible. Citadel and Point72 purchased over 51% of Melvin Capital's share equity after Melvin's broker realized they couldn't close their positions and complete margin call without risking bankruptcy. According to reports, Plotkin said he would keep the new fund small under $5 billion and focus on shorting stocks. Regulatory data shows that the hedge fund lost almost $7 billion by betting against stocks like GameStop. A Wall Street analyst by the name of Rich Greenfield predicted AMCs stock price would come down to $0.01 back in March of 2021. Analyst: Tech stocks will rise 20% in 2023. This is likely because whenever Melvin's broker/lender realized shit was hitting the fan they may have attempted to margin call Melvin's naked short position on GME; only to realize they literally can't cover it even with a margin call due to unavailable float since we now know available float is 26M. Whalewisdom has at least 35 13F filings, 110 13G filings, and 2 Form 4 filings. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market valueof over US$500 per share($125 split-adjusted), nearly 30 times the $17.25 valuation at the beginning of the month. Get this delivered to your inbox, and more info about our products and services. Theyve already liquidated accounts in both the stock and crypto markets. Investors, who include Point72 founder Steven Cohen, are being presented with the prospect of getting a chance to have Plotkin run their money in a smaller fund focused on his strength of shorting stocks, but forever giving up the hope of having him work to get them back to even on their current funds. Between January 26th and January 29th AMZN fell from $3,326 to $3,206. Jun 2016 - Feb 20179 months. Twitter after the humiliating prediction . Pay Ahead and Skip the Line. [30] At the end of Q1 2021, Melvin reported losses of 49%,[5][6] at the close Q2 2021, Melvin was reported to be down 46% on the year, and as of November 2021, Melvin was reported to be down 42% on the year. Melvin Capital Management is based out of New York. The SEC is investigating . Melvin, the. IMO $15B loss on a $22B fund sounds like a margin call to me. AMC, https://www.reddit.com/r/Superstonk/comments/myulmm/so_i_hear_melvin_secretly_went_out_of_business_in/gvxaj0n/, But they have renewed their SEC registration this past march: https://reports.adviserinfo.sec.gov/reports/ADV/173228/PDF/173228.pdf, Looking at their SEC filings can shed some light of this, We can notice Melvin's behavior as a fund change by observing certain position changes between Q4 2020 - Q1 2021. No affiliation or endorsement, express or implied, is provided by their use. Key Points Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund's manager told CNBC. VTRS stock has been hammered down significantly Feb 19th(3 days after the SEC report was filed). Oh yeah and I'll just leave this here: https://www.cbre.us/properties/properties-for-lease/office/details/US-SMPL-2338/535-madison-avenue-10022?view=isLetting That's Melvin's old building. Just woke up and saw this post is close to 5k upvotes and heaps of awards!! By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. CNBC could not confirm the amount of. Margin trading is when you pay only a certain percentage, or margin, of your investment cost, while borrowing the rest of the money you need from your broker. Investor Michael Burry said in a now-deleted tweet Tuesday that trading in GameStop is "unnatural, insane, and dangerous" and there should be "legal and regulatory repercussions." I encourage criticism of this thesis. Melvin Capital closed out of its GameStop short position on January 27, and ended the month with $8 billion in assets under management, compared to the $12.5 billion it started the year with. [which you might remember played a key role in shutting down the hectic short squeeze]. How do we infirm regular guy 401k ni interest in stocks how this crime and all the games that, I am fairly new to investing. Updated Jan. 25, 2021 3:49 pm ET. Melvin Capital Management LPGabriel Plotkin2014 20211125 6820225 Signs of continued U.S. labor market strength plus persistent inflation out of Europe were all it took this week for bond investors to push yields up toward new milestones as interest-rate expectations continued to be readjusted. . We want to hear from you. So they are still in business and still purchasing stock, but we can observe that their website is down (u/Sh0w3n pointed out this is a misunderstanding on my part, the website has had that blankish display screen well before I or other apes noticed it) and their phone line is down. All material subject to strictly enforced copyright laws. More hedge funds under Citadels management will be incurring loses very soon if they havent already. adidas Promo Code - $30 Off 1000s of Best-Sellers + Free Shipping, 60% off running shoes and apparel at Nike without a promo code, Save 15% on orders of $100+ with Kohl's coupon. Aug 15, 2022 6:23 AM EDT. He has since made his profile on Twitter private. Sign up for free newsletters and get more CNBC delivered to your inbox. +2.91% While older members of the AMC community, known as apes, have gained massive profits recently, they continue to hold their positions. Robinhood . We must resit it at all cost and send them a clear message that the American dream or the wealth of the United states belongs to everyone but not only to them or kids or their own gangs. Owning more than 50% of a company's equity shares means you have controlling interest in that company. And GME to the moon." Im active on all of my accounts and publish content regularly. Alex Flynn/Getty Images/Bloomberg. AEO position decreased by 3 Million shares, . At the time, Plotkin whofamously got slammed by meme stock investors on Reddit last year who had targeted his fund for being a prominent short seller said he wouldnt try and make investors whole. Now where else could Melvin get the type of capital support to keep this charade going (after reports of 49% Q1 losses) if not from the the other funds who stand to lose literally everything if Melvin is margin called on their short positions (be they naked or not). Regardless, Thursday was a good day for meme stocks even if was a bad day for humanity, a fact that was reflected in jdrukis conclusion to his Reddit post. Text. Citadel put it in US$ 2 billion, while Point72 put in US$ 750 million. Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. Melvin Capital had $7.8 billion in assets at the end of April. The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. A margin call is a broker demand requiring the customer to top up their account, either by injecting more cash or selling part of the security to bring the account to the required minimum. [3] In February, Melvin posted a 22% gain; even with this addition, Melvin will need to produce an additional 75% gain for earlier clients before they break even. All positions listed above are observed between October 2020- December 2020. [13] He also said that the fund has an "intense focus" on the short side (i.e. Margin Call! Its about the power of unification, and the strength to fight corruption in our nation. Remember Plotkin said in the hearing that he didn't think the price action was influenced by shorts covering; I still believe he knew that covering their entire short position would send the stock much, much higher and break the financial system which we might have seen if the buy stoppage did not occur. The Securities and Exchange Commission declined to comment. Archegos failed to meet the margin calls, prompting a massive $20 billion fire stock sale as the banks, or at least some of them, rushed to sell off the fund's . Data is a real-time snapshot *Data is delayed at least 15 minutes. Distribution and use of this material are governed by Wall street and its cronies, the hedge funds companies and big banks like bank of America with their CEO have been a major problem to small retail investors. Griffin, his partners and the hedge funds he runs at Citadel threw in $2 billion and Cohen's Point72 Capital Management, which. Founded in 2014, Melvin Capitals principal objective for its Clients is to generate superior, risk-adjusted returns by employing a long-short equity strategy. our Subscriber Agreement and by copyright law. On this Wikipedia the language links are at the top of the page across from the article title. Sign up for free newsletters and get more CNBC delivered to your inbox. But as his fund grew in size that ability was muted. They provide users with intra day and historical data for days to cover, shares on loan, utilization rate, cost of borrow and free-float on loan. The stock market is not the hedge funds private property. . [26][27] On January 27 Bloomberg News reported that losses had continued past the 30% reported on January 24 by the WSJ although their sources would not give a specific number as to not upset CIO Gabe Plotkin. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Traditional AUM reporting includes positions purchased with margin; so that $8 billion reported includes margin positions, it doesn't include short positions because a short's loss isn't realized until the position is closed, on the contrary, proceeds from a short position can be used freely to purchase positions that will be shown on AUM. GameStop, hedge funds' most-hated stock, was targeted by an army of retail investors who marshaled forces against short sellers in online chat rooms. (4 minutes) Citadel LLC and Point72 Asset Management are investing $2.75 billion in hedge fund Melvin Capital Management, an emergency . Ukraine, Im sorry this is happening. For those who woke up this morning to conflict, seeing red in the streets is going to be something they cant just count on going away., But the uncertainty created by Putins military action is a perceived gift to the Apes, who have indeed long believed that market shrinkage would dry up a deep pool of synthetic shorts that they contend have artificially delayed meme stocks from mooning.. Citadel LLC and Point72 Asset Management are investing $2.75 billion in hedge fund Melvin Capital Management, an emergency influx of cash that is expected to stabilize what has been one of the top performing funds on Wall Street. . Privacy Policy. With Kevin Spacey, Paul Bettany, Jeremy Irons, Zachary Quinto. News that Ken Griffins Citadel LLC hedge fund is further paring back its $2 billion investment in Gabriel Plotkins short-selling fund Melvin Capital was explosive Schadenfodder for social medias army of Apes.. What is a margin call? This would develop a narrative that Melvin did not have to sell controlling interest in the company to raise capital to prevent a bankruptcy. 2023 CNBC LLC. [22] In January, Ken Griffin's Citadel and Steve Cohen's Point72 invested $2.75 billion in Melvin in exchange for non-controlling revenue shares of the fund. When Citadel needs capital to cover positions, who do you think theyre going to collect it from? Visit a quote page and your recently viewed tickers will be displayed here. Burry shot to fame by betting against the housing bubble and was featured in Michael Lewis' book "The Big Short.". [1] He raised nearly $1 billion. . That $8B number is the amount of capital Melvin had after gaining access to more leverage using the $2.75B. 01:37. I think they could be trying to create the illusion of growth by acquiring more margin: https://fintel.io/i/melvin-capital-management-lp, First thing to observe is that they are listing a total asset portfolio of $22B as of 12/31/2020. Between January 26th and January 28th GOOG fell from $1917 to $1830; Between January 26th and January 29th FICO fell from $511 to $450. "Technical issues" such as partial GME shares selling for over $2k may have resulted from this attempted margin call (also maybe not, just can't explain this any other way): https://www.reddit.com/r/wallstreetbets/comments/l7et6x/technical_error_gain_market_order_filled_for_gme/, https://www.reddit.com/r/wallstreetbets/comments/l7aj2e/mic_drop/gl64fks/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3, Comment section: https://www.reddit.com/r/wallstreetbets/comments/l7bpf5/30_seconds_from_triggering_market_nuclear_bomb/gl5vgof/?utm_source=share&utm_medium=web2x&context=3. Things arent looking so great for Citadel in 2022 as scrutiny grows within the retail community. or financial advisor. Chinese Tycoon Who Faces $8 Billion In Margin Calls Tells Bank He Wants To Keep Shorting Nickel by Tyler Durden Thursday, Mar 10, 2022 - 10:39 AM Update (1400ET): In what appears to be LME's latest attempt to 'manage' Xiang's outsize position risk, the exchange is 'changing the rules' (one might say): The Tesla CEO tweeted to his 42 million followers "Gamestonk!!" Mesa, AZ. This resulted in the shares stampeding higher, and Melvin Capital very nearly went bust as a result. Instead, hed demand performance fees of potential clients, including those who previously lost money with him. 2023 NYP Holdings, Inc. All Rights Reserved, Ray Dalio-founded hedge fund Bridgewater to cut 100 jobs in push to develop AI: report, Hedge fund blasts $18M salary of Bath& Body Works chair, Little-known hedge fund boss joins Cohen, Ken Griffin as Wall Streets top earners, China beating US in trade war, nations brink of conflict: billionaire Dalio. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Margin trading allows you to profit from the price fluctuations of assets that otherwise you wouldn't be able to afford. Melvin Capital, the hedge fund run by Gabe Plotkin that struggled with heavy losses last year as it reeled from wrong-way bets on GameStop, is shutting down, according to a letter sent to investors on Wednesday that was reviewed by The New York Times.From the report: Mr. Plotkin wrote to his investors that he had decided that the "appropriate next step" was to liquidate the fund's assets and . The stock ended the day 92% higher at $147.98. Citadel just redeemed $500m from Melvin Capital, I personally think this means Citadel are running out of cash, and have just squeezed Melvin for every last penny, putting both of them in a BAD spot. $600 giveaway on 28th August, to win, just join the Patreon - https://patreon.com/thomasjamesinvesting Check out the Merch - https://thomasjamesinvesting.com Get a Free Stock worth up to 200 - https://magic.freetrade.io/join/Thomas-James-Investing Get 4 FREE Stocks worth up to $3,350 - https://j.moomoo.com/006XiL Moomoo deposit tutorial - https://youtu.be/gw1BkLVsnjU Get up to $250 of Bitcoin - https://blockfi.com/?ref=98eb64e6 Get $25 of Bitcoin - https://platinum.crypto.com/r/74mubgbbse Get $10 of Bitcoin - https://coinbase.com/join/smallb_1u?src=ios-linkLinks;https://www.reddit.com/r/amcstock/comments/p8kp1n/after_8_months_of_hodling_id_like_to_share_the/https://www.reuters.com/article/us-citadel-melvin-hedgefunds-idTRNIKBN2FM08YWe've also had a government employee that works fairly high up confirm that Gary Gensler is making change and is ready to bring down the hammer, he's just controlling the narrative and taking it step by step.This is brilliant news for the AMC stock as it seems those hedge funds are getting squeezed further and further and are running out of control. "A Former Top SAC Capital Trader Names New Hedge Fund", "Melvin Capital to Close Funds, Return Cash to Investors", "WSJ News Exclusive | Melvin Capital Lost 53% in January, Hurt by GameStop and Other Bets", "Hedge Fund Melvin Lost $6.8 Billion in a Month. Thank you for reading and sharing! From SEC data on September 30, 2020, Melvin Capital had large puts in Elanco Animal Healthcare, Wynn Resorts Ltd, iRobot Corp, National Beverage Corp, Gamestop Corp., American Eagle Outfitters, Dillards Inc., Ligand Pharmaceuticals, Martin Marietta Materials, Advance Auto Parts, Bed Bath & Beyond, Inc., Mylan NV, and GSX Techedu. AMC is currently trading around $14 today. Looking at the most recent Fintel summary for Melvin Capital. That much is clear. The . Melvin Capital quickly attracted attention and powerful investors and ended 2020, the year the pandemic began, with gains of 52.5%. Read: How do hedge funds manipulate the stock market. [38] According to Bloomberg, during 2020 Plotkin earned over $800 million in compensation. [4], After graduating from Northwestern University with a degree in economics in 2001, Gabriel Plotkin joined Ken Griffin's hedge fund Citadel LLC, and later Connecticut-based hedge fund North Sound Capital. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. Assets under management in April 2022 were about $7.8 billion. Deductions I made from the QoQ report comparison, keep in mind the most recent FINTEL report reflects the positions value on 31/01/2020 when GME was $19.50 (when I'm writing this GME is $177.77 so Melvin is at least 8x as fuk as they were in December 2020). Barcelona. How much higher can interest rates go? The Biden administration is preparing a new program that could prohibit American investment in certain sectors in China, a step to guard U.S. technological advantages amid a growing competition between the worlds two largest economies. Under the terms being discussed, Plotkin would unwind his current fund at the end of June. I encourage you to prove this thesis wrong. Embattled hedge fund Melvin Capital reported another down month just weeks after founder Gabe Plotkin said he was considering winding down the fund. That fund was down 21% at the end of the first quarter. I will say though, the skeptic in me wonders if Citadel abused their MM privilege to facilitate short sales for other funds without locating borrows and realized they are ultimately fucked when they have to margin call those shorts. I am sorry. Melvin Capital got crushed on its short position in GameStop. Batteries are the single most expensive element of an EV. [1] It was founded in 2014 by Gabriel Plotkin, who named the firm after his late grandfather. https://fintel.io/i13fs/melvin-capital-management-lp, https://www.bloomberg.com/news/articles/2021-04-09/hedge-fund-melvin-capital-posts-first-quarter-decline-of-49, Wait, so a fund that had $22B under management on 12/31/2020 only had $8B on 01/31/2021 AFTER receiving a $2.75B "cash infusion" on the 01/24? Shares in GameStop While there is scant evidence of a liquidity issue at the $230 billion hedge fund, Griffin's Citadel empire does seem to be having a less-than-comfortable start to 2022 with a series of regulatory. [8] Prior to starting Melvin Capital, Plotkin was a trader at Steve Cohen's SAC Capital, where he managed a portfolio of mostly consumer stocks valued at about $1.3 billion. The release quoted CEO Adam Aron as saying "any talk of an imminent bankruptcy for AMC. caused the distress of certain hedge funds such as Melvin Capital Management LP due to their large short positions in this stock. Up next, the hedge funds they manage. [] CNBC could not confirm the amount of losses Melvin Capital took on the short position. Melvin contends that these lawsuits are "without merit. Read: Deputy Global Treasurer resigns from Citadel. Melvin Capital Management is a hedge fund with 4 clients and discretionary assets under management (AUM) of $21,801,284,330 (Form ADV from 2022-05-11). Citadel and Point72 have infused close to $3 billion into Melvin Capital to shore up its finances. Its only a matter of time before the plug gets pulled.Social media: Follow me on Instagram - https://instagram.com/thomasjamesyt Follow me on Twitter - https://twitter.com/Thomas_james_1 Please be sure to LIKE, SUBSCRIBE, and turn on them NOTIFICATIONS. Investors shorting AMC and GameStop stock are estimated to have lost $754 million on Tuesday 5/25 of last year alone, via ORTEX. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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In the above article (posted Jan 31st) it's stated that a "-Source" (sus af trust no one haha) disclosed that Melvin Capital ended the month with over $8 Billion in assets under management (AUM). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Hedge funds such as Citadel and Melvin Capital have lost billions of dollars, and fast. This company is AMC Entertainment and its revival is thanks to the millions of retail investors buying the stock. ape weak alone but together strong.. On the threshold list for a month now. And theyve subsequently managed Melvin Capital to the ground. COMPLETELY NEW 600k share put position in AMC. NextMed said most of its customers are satisfied. While there is scant evidence of a liquidity issue at the $230 billion hedge fund, Griffins Citadel empire does seem to be having a less-than-comfortable start to 2022 with a series of regulatory investigations into short-selling and block trading coming to its door and one of its hedge fund executives even being named in one of the probes.