The owner of the New York Mets has deactivated his Twitter after fans learned he has money in Melvin Capital Management.
New York Mets owner Steve Cohen is taking a “break” from Twitter, after receiving hate on the platform from fans for his association with Melvin Capital Management, the hedge fund that has become infamous for shorting GameStop stock.
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He explained his decision in a statement, in which he references personal threats made against his family:
I’ve really enjoyed the back and forth with Mets fans on Twitter which was unfortunately overtaken this week by misinformation unrelated to the Mets that led to our family getting personal threats. So I’m going to take a break for now. We have other ways to listen to your suggestions and remain committed to doing that. I love our team, this community, and our fans, who are the best in baseball. Bottom line is that this week’s events in no way affect our resources and drive to put a championship team on the field.
Cohen deactivated his account Friday night.
Redditors, primarily on the subreddit WallStreetBets, have been pumping GameStop’s stock in response to hedge funds like Melvin Capital that have shorted it immensely. The movement has grown throughout the week as people across the internet have joined in their cause. $GME is currently valued at $325.00, up over 1,500% for the month.