Economic Indicators

Melvin Capital, hedge fund that bet against GameStop, lost 53% in January

Melvin Capital Management, the hedge fund squeezed by its short-selling bets that GameStop shares would fall, lost 53% on its portfolio in January, a source familiar with the matter told FOX Business. Melvin Capital Management, the hedge fund squeezed by its short-selling bets that GameStop shares would fall, lost 53% on its portfolio in January.

Coronavirus stimulus payment may arrive as a debit card, IRS says

While the vast majority of the more than 100 million $600 coronavirus stimulus checks approved by Congress late last year were deposited directly into Americans’ bank accounts, several million others were sent through prepaid debit cards and in paper checks.