"How does on dump 6,341,700 shares in a non-open market?
Wonder why he accumulated only to sell out?"
"
Dark pools are private exchanges for trading securities that are not accessible by the investing public. Also known as “dark pools of liquidity,” the name of these exchanges is a reference to their complete lack of transparency."
from my previous post:
GameStop Short Squeeze[edit]
In January 2021, along with Ken Griffin's Citadel Securities, Point72 contributed $750 million to a $2.75 billion emergency bailout of Melvin Capital, a hedge fund that had incurred deep losses in the GameStop short squeeze;[26][27][28] Melvin Capital is run by Gabe Plotkin, a former protégé of Steven Cohen and one of the managers of SAC whose trades were investigated by the SEC.[29][26][30][31] In the first half of 2021, Point72 was reported to have lost $500 million on its investment in Melvin Capital.[32]
the GameStop debacle caught Melvin Capital with 150% short position - retail "Apes" caught on to their game and started buying/holding their shares and forced Melvin to cover at high prices - drove Melvin into bankruptcy. Cohen and Griffin tried to bail out Melvin but Apes held. One example where crooked hedges got caught...