Melvin Capital reportedly closes out its GameStop position

CNBC reports

That is one tough pill to swallow for Melvin Capital. For some context, GME is trading at around 130% higher in pre-market trading today. From earlier this week:

• Did Melvin Capital just get a bailout?

Update (1154 GMT): Citron just said that is has covered a majority of its GameStop shorts at a loss. It says that it covered them "within the $90's". GameStop shares now trimming gains to roughly 30% in pre-market trading on the back of all this.