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Italian trader loses his ‘entire life savings’ on one insanely risky position

From marketwatch.com

This year’s been a real grind for Luckin Coffee LK, +10.73% investors. At one point, Lone Capital held $367 million in stock to lead all hedge funds covered by Insider Monkey. DSAM Partners had $146.2 million worth. Melvin Capital, Renaissance Tech and Tybourne Capital were also bullish on the company, according to Yahoo Finance. So when the stock, which was already down 89% for the year, had its trading halted back in April amid an investigation into financial misconduct, the losses were felt far and wide. But one retail investor with a PG-13 Reddit name took a particularly grievous hit. Yes, StopFapForever, who ... (full story)

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