Hedge fund Light Street Capital Management has joined the growing club of stock-picking hedge funds chalking uo big losses, with the fund now down by 50% so far in 2022, according to a report by Bloomberg.
The report cites unnamed sources as revealing that the fund, founder by Glen Kacher was down 6.7% in September alone, with all six of its largest US stock picks, as of the end of June, having fallen by over 27% by the end of September.
Software company Expensify Inc, caused the biggest loss with its stock tumbling by 66%, while Datadog Inc and Cellebrite DI Ltd both saw their value fall by half.
