Photographer: Scott Eells / Bloomberg
Photographer: Scott Eells / Bloomberg
Steve Cohen, founder of billions investment firm Point72 Asset Management and owner of the New York Mets, said he closed his Twitter account after his family received personal threats this week.
“I have been very impressed back and forth by Mets fans on Twitter who were unfortunately taken over this week by misinformation not linked to the Mets who made our family threats. personal, ”Cohen said in a statement Saturday.
“So I’m going to take a break now. We have other ways to listen to your suggestions and we remain committed to doing so. “
Point72 was among the hedge funds losing to Reddit traders who came together to boost the stock GameStop Corp. The fund has fallen 10% to 15% so far this month, people familiar with the matter told Bloomberg News earlier in the week. The loss came as Point72 a $ 750 million injection into Melvin Capital, which saw the short bets on stocks involving GameStop go awry.
Cohen expanded his reputation in the investment world to Twitter stardom after entering the social platform to chat with Mets fans after they bought the team in 2020 for around $ 2.4 billion.
As his hedge fund bet targeted him with angry Reddit traders, he complained about the “rough crowd” on Twitter in a recent tweet.
On Thursday, Cohen joined a heated Twitter exchange with Dave Portnoy, founder of Barstool Sports, who tasted Point72, Citadel’s hedge fund and Robinhood’s breaking platform for their roles in GameStop trades.
Cohen tweeted back to Portnoy, saying, “Hey Dave, What meat do you have with me. I’m just trying to make a living just like you. We are happy to take this offline. ”
“I won’t be doing offline,” Portnoy replied.
Cohen was not the only Wall Street name facing personal threats amid the real sentiment in GameStop with retail investors. Andrew Left of Citron Research also he said he was in danger for his brief call on the video game vendor. Citron announced Friday that it will not publish a further short sales review.
“I love our team, this community, and our fans, the best in baseball,” Cohen said in the statement from the Mets. “The bottom line is that this week’s events will have no impact on our facilities and try to put a team on the field. #LGM! ”
– Supported by Bill Haubert