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The New York Mets owner said he quit Twitter because his family received threats he attributed to “disinformation” unrelated to the baseball team.
Steve Cohen’s hedge fund, Point72, became entangled in the turmoil of the market who pitted a bunch of small investors against traders who made bets against stocks of companies, including GameStop.
The hedge funds that bypassed GameStop lost billions as small investors bought the company’s stock. One of the short sellers, Melvin Capital, announced this week that it had received a $ 750 million infusion from Point72.
“I really enjoyed the back and forth with Mets fans on Twitter who were sadly overwhelmed this week by unrelated misinformation about the Mets which led to our family receiving personal threats,” Cohen said on Saturday in a statement released by the Mets. “So I’m going to take a break for now.”
The hedge fund billionaire told Mets fans, “We have other ways to listen to your suggestions and remain committed to doing so.” He added that this week’s events would not affect the team’s resources.
Cohen first took a stake in the Mets in 2012. Last year he bought a 95% stake in a deal that valued the club at $ 2.4 billion, a record selling price for a Major League Baseball team.
The Mets were tied for last place in the National League East Division last season. This month, the team fired its newly-hired chief executive after reporting he sent explicit and unsolicited messages to a reporter several years ago.
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