The Hedge fund that made $700 million on GameStop knew it was time to sell after an Elon Musk tweet

(CNBC) One hedge fund got the GameStop trade just about perfectly right last year — buying it under $10 and selling when the meme stock peaked. The sell signal it used? An Elon Musk tweet. That’s how 2021?s top-performing hedge fund, Senvest Management, was able to notch $700 million in profit from GameStop and bring its annual return to more than 85%. The trade was the firm’s single best in its 25 years in existence.

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