Michael Jordan is synonymous with success in practically all the initiatives he has undertaken. His sporting and financial success is simply unmatched; Suffice it to say that is the only person who is a majority member of a professional sports team in the United States: the Charlotte Hornets.
Well not even all his charisma and his habit of triumph could prevent this time that the idol of the crowds suffered a monumental loss due to the current scandal on Wall Street initiated by users of the Reddit forum on the internet.
These netizens decided to turn the operation of the Wall Street stock exchanges “upside down” by massively buying shares of Game Stop , a video game company that had a clear downward trend and that managed to revalue with devastating consequences for some, including “His Airness” .
Follow the soap opera #GameStop $ GME | 🏀
▪️ Michael Jordan caught in the middle of war with #GameStop
▪️ Jordan’s business partner, Plotkin, and his fund Melvin Capital had bet aggressively against GameStop by short selling its shares https://t.co/UCtx3aoDbM pic.twitter.com/PTNnKH6yBK
– Ginés Parra 🌐 (@inveuro) January 29, 2021
This mass campaign caused losses valued at $ 1, 600 million dollars in some companies and caused Melvin Capital, a fund managed by Gabe Plotkin and Daniel Sundheim, two investment stars had to ask for a rescue of $ 2, 750 millions to avoid bankruptcy and disappear. J ordan became associated with this firm in 2019 and they became part of the Hornets shareholders.
“J ordan couldn’t have chosen a worse time to partner with them as investors in the Hornets . Plotkin and Sundheim are taking catastrophic losses in this war on Wall Street, “says the site Basketball Forever.
Jordan , who had already faced large losses due to the COVID pandemic – 19 the previous year calculated in $ 300 million , now you could be facing another critical situation for your finances after this blow on Wall Street.
