https://wccftech.com/hedge-fund-that-bet-against-nintendo-takes-a-25-million-paper-loss/

If you regularly keep up with the Wccftech.com finance column, you may remember reading an interesting story about an up and coming Wall Street hedge fund manager, Gabriel Plotkin, who steered his firm Melvin Capital into a $400 million short bet against Nintendo. By borrowing and selling $400 million worth of Nintendo shares (TYO:7974), Melvin Capital would then go and buy the stock back after a drop in price, netting a nice profit in return.

However, that plan has appeared to have backfired, at least for the time being. Nintendo reported a very strong quarter as we reported on just yesterday, and today Nintendo stock soared over 7 percent at its peak before relaxing slightly to 6.4 percent on the day.