Steve Cohen Shuts Down Twitter Account After Receiving Threats

Steve Cohen, billionaire founder of investment firm Point72 Asset Management and owner of New York Mets, said that his family closed his Twitter account this week after receiving personal threats.

“I really enjoyed the going on with Mets fans on Twitter this week, unfortunately, with misinformation unrelated to Mets, and our family received personal threats,” Cohen said in a statement Saturday.

So I will take a break for now. There are other ways to listen to your suggestions and be determined to do so. “

Point72 was among the hedge funds to lose to Reddit traders who come together to increase their stock GameStop Corp. Funding has dropped 10% to 15% so far this month, people familiar with the matter told Bloomberg News earlier this week. Arrived as Lost Point72 Injected 750 million dollars To Capital Melvin who saw that his short bets on stocks, including GameStop, went awry.

Cohen, his reputation in the investment world, Twitter star After joining the social platform to chat with Mets fans after buying the team for about $ 2.4 billion in 2020.

The Hedge fund’s bet made him a target by angry Reddit traders, while complaining about the “tough crowd” on Twitter in a recent tweet.

On Thursday, Cohen entered a heated Twitter exchange with Dave Portnoy, founder of Barstool Sports, which blew up Point72, the hedge fund Citadel, and brokerage platform Robinhood for his roles in GameStop trading.

Cohen tweeted to Portnoy and said, “Hey Dave, what’s your steak? I’m trying to earn a living just like you. I am happy to take this offline. “

“I don’t do it offline,” Portnoy replied.

Cohen wasn’t the only Wall Street name facing personal threats amid the speculative frenzy of retail investors at GameStop. Citron Research’s Andrew Left too I said He was threatened by a short call to the video game retailer. Citron announced on Friday that it will no longer publish short selling research.

“I love our team, this community and our fans who are the best in baseball,” Cohen said in a statement from Mets. “As a result, this week’s events are in no way affecting our resources and the motivation to put a championship team on the field. #LGM! “

– with the help of Bill Haubert