Month: January 2021

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Article: Short Squeeze Costs Tesla Shorts $40 Billion in 2020

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Short Squeeze Costs Tesla Shorts $40 Billion in 2020

Danny Vena, 21 January 2021

Tesla (NASDAQ:TSLA) was one of the undisputed winners of 2020, with the stock gaining 743% over the course of the year. There were a number of factors that contributed to the electric car maker’s surging stock price, including five successive quarters of profits, induction into the S&P 500 Index, and a well-received stock split.

However, short sellers that bet against the stock lost a massive $40 billion in 2020, making it the single most unprofitable short of the year. Short sellers lost a combined $245 billion last year, with Tesla costing shorts more than the next nine stocks combined. Continue reading “Article: Short Squeeze Costs Tesla Shorts $40 Billion in 2020”

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Article: What’s The Endgame For GameStop?

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What’s The Endgame For GameStop?

Taylor Tepper,  27 January 2021

There’s something very weird happening in shares of GameStop (GME).

A market frenzy has pushed the shares of the Grapevine, Texas-based video game retailer up more than 3,000% in just a few months—far, far outsripping the market as a whole. A once-dormant brick-and-mortar retailer with sagging sales, GameStop was worth $300 million in August 2019. Today it has a market cap of almost $20 billion.

Nobody knows what it’ll be worth tomorrow.

GameStop has not invented an addictive new gaming platform. GameStop has not rolled out an awe-inspiring online gaming delivery service. GameStop is a store at the mall. That doesn’t bode well for revenue, given that state governments have imposed rolling lockdowns and stay-at-home orders to limit the spread of Covid-19. And yet here we are. Continue reading “Article: What’s The Endgame For GameStop?”

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Article: DoorDash scam found to be fraudulently charging people who didn’t even have the app

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DoorDash scam found to be fraudulently charging people who didn’t even have the app

Becky Robertson, 27 January 2021

An exposé from the CBC found multiple citizens across six provinces including Ontario had been charged, even those who live in remote areas where DoorDash isn’t even offered.

It also seems that many of the targets weren’t even existing DoorDash customers, making the methodology of how the fraudsters got their banking info all the more sketchy.

The origins of the scam and who is behind it have yet to come to light, but DoorDash has said that it is taking the situation very seriously and has worked with TD to resolve the issue through reimbursements.
Continue reading “Article: DoorDash scam found to be fraudulently charging people who didn’t even have the app”

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Article: Something ‘Systemically Wrong’ With GameStop Options Trading, Says Massachusetts Securities Regulator

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Something ‘Systemically Wrong’ With GameStop Options Trading, Says Massachusetts Securities Regulator

Shivdeep Dhaliwal , 27 January 2021

There is something “systemically” wrong in the options trading of the stock of GameStop Corporation GME 0.1%, according to Massachusetts securities regulator, Barron’s reported Tuesday.

What Happened: The Secretary of the Commonwealth of Massachusetts William Galvin told Barron’s that he has kept an eye on the stock. “I’m concerned, because it suggests that there is something systemically wrong with the options trading on this stock.”

The publication is awaiting further clarification from Galvin on the specific nature of the problems in options trading. GameStop shares soared over 134% in regular and after-hours trading and have risen over 678% since 2021 began fueled by a Reddit forum. Continue reading “Article: Something ‘Systemically Wrong’ With GameStop Options Trading, Says Massachusetts Securities Regulator”

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Article: ADVANZ PHARMA Corp. Limited Announces Agreement Of Terms To Be Acquired By Nordic Capital

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ADVANZ PHARMA Corp. Limited Announces Agreement Of Terms To Be Acquired By Nordic Capital

PRNewswire, 27 January 2021

ADVANZ PHARMA Corp. Limited (“ADVANZ PHARMA” or “the Company”), a specialty pharmaceutical company with a strategic focus on complex medicines in Europe, today announced that its board of directors has reached an agreement on the terms of a cash offer, to be made by a subsidiary (“Bidco”) of Nordic Capital, pursuant to which Nordic Capital will acquire the entire issued and to-be-issued limited voting share capital of ADVANZ PHARMA (the “Acquisition”).

“This offer highlights the value that our employees around the world have collectively contributed towards building ADVANZ PHARMA into the strong and diverse company it is today,” said Graeme Duncan, Chief Executive Officer of ADVANZ PHARMA. “In addition, this Acquisition will significantly help the business through both the capital support, and Nordic Capital’s deep sector expertise. I am very much looking forward to working with Nordic Capital to deliver our growth targets.”
Continue reading “Article: ADVANZ PHARMA Corp. Limited Announces Agreement Of Terms To Be Acquired By Nordic Capital”

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Article: GameStop short-sellers lost $1.6 billion in a single day as Reddit traders rebelled against them

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GameStop short-sellers lost $1.6 billion in a single day as Reddit traders rebelled against them

Ben Winck, 25 January 2021

Investors betting against GameStop and the army of bullish retail traders have already lost billions in 2021. Mark-to-market losses for GameStop shorts on a year-to-date basis reached $3.3 billion when trading closed on Friday, according to data from the financial-analytics firm S3 Partners. Losses totaled nearly $1.6 billion on Friday alone as shares rocketed 51% higher into the close.

GameStop stock has continued to climb as Reddit users and day traders have extended the unusual momentum trade into its third week. The company’s shares initially leaped on January 11 after it agreed with an activist investor to add three new directors to its board. The day’s gains drew in swaths of retail traders, including members of the popular WallStreetBets subreddit. Continue reading “Article: GameStop short-sellers lost $1.6 billion in a single day as Reddit traders rebelled against them”

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Article: Contract Violations, Fraudulent Activity Deactivations, Doordash, Grubhub and Uber Eats Cracking Down

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Contract Violations, Fraudulent Activity Deactivations, Doordash, Grubhub and Uber Eats Cracking Down

ronald.l.walter, 25 January 2021

What’s going on with all this activation talk lately? What’s up with all this cracking down on contractors lately by Grubhub, Doordash, Uber Eats and maybe others? And how can you avoid being deactivated?

Spend much time lately in Reddit or Facebook groups for drivers and you see people left and right who are being deactivated or threatened with deactivation.

Referral policy fraud. Extreme lateness. Fraudulent activity. What’s going on here? We’ll get into why this may be happening. Then we’ll talk about whether these companies are crossing the line. Then we’ll get into what we can do to avoid being deactivated. Finally, what do you do when you do get deactivated?
Continue reading “Article: Contract Violations, Fraudulent Activity Deactivations, Doordash, Grubhub and Uber Eats Cracking Down”

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Article: Top official warns of ‘disturbing’ amount of Russian money laundering in UK

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Top official warns of ‘disturbing’ amount of Russian money laundering in UK

Stefan Boscia, 25 January 2021

One of the UK’s top officials in monitoring economic crime has today warned about the “disturbing” prevalence of Russian money laundering in London, claiming up to half of all money laundered from the country is done through the UK.

Graeme Biggar, director general of the National Economic Crime Centre, told MPs today that it was “too easy to set up companies here” and that Russian “laundromats” were exploiting the UK’s corporate structure to launder billions of pounds. Continue reading “Article: Top official warns of ‘disturbing’ amount of Russian money laundering in UK”

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Article: Deutsche Bank Agrees to $130 Million Settlement Over Claims of Bribery, Market Manipulation

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Deutsche Bank Agrees to $130 Million Settlement Over Claims of Bribery, Market Manipulation

Dani Alexis Ryskamp, J.D., 22 January 2021

Deutsche Bank recently agreed to pay over $130 million in a settlement involving two separate claims—that Deutsche Bank paid bribes for overseas business and that it was involved in the manipulation of metal markets. The settlement’s terms also include a three-year deferred prosecution agreement. Continue reading “Article: Deutsche Bank Agrees to $130 Million Settlement Over Claims of Bribery, Market Manipulation”

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Article: MultiPlan (MPLN) Investigation Alert: Did You Lose Money on Your Investment? Contact Johnson Fistel Regarding Investigation

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MultiPlan (MPLN) Investigation Alert: Did You Lose Money on Your Investment? Contact Johnson Fistel Regarding Investigation

PR Newswire, 21 January 2021

Johnson Fistel’s investigation seeks to determine whether the Company issued false or misleading statements or failed to disclose information relevant to investors.

Last November, Muddy Waters Research published a report entitled “MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab” The report described problem’s involving MultiPlan, including that “MPLN is in the process of losing its largest client, UnitedHealthcare (‘UHC’). UHC has formed a competitor to MPLN that offers significantly lower prices and fewer conflicts of interest.” Additionally, the Muddy Waters report claims that Multiplan is already in financial decline, “and its financial statements were engineered to obscure this existing deterioration.”
Continue reading “Article: MultiPlan (MPLN) Investigation Alert: Did You Lose Money on Your Investment? Contact Johnson Fistel Regarding Investigation”

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Article: Form 8-K Bionano Genomics, Inc

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Form 8-K Bionano Genomics, Inc/strong>

EDGARFILINGS LTD, 21 January 2021

On January 20, 2021, Bionano Genomics, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Oppenheimer & Co. Inc., as representative of the several underwriters named therein (collectively, the “Underwriters”), relating to the issuance and sale in a public offering of 33,333,350 shares of the Company’s common stock, par value $0.0001 per share. The price to the public in the offering is $6.00 per share and the Underwriters have agreed to purchase the shares from the Company pursuant to the Underwriting Agreement at a price of $5.64 per share. The net proceeds to the Company from the offering are expected to be approximately $187.3 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The closing of the offering is expected to occur on January 22, 2021, subject to customary closing conditions. In addition, the Company granted the Underwriters a 30-day option to purchase up to 5,000,002 shares of the Company’s common stock at the public offering price, less the underwriting discounts and commissions. Continue reading “Article: Form 8-K Bionano Genomics, Inc”

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Article: Form 8-K Vinco Ventures, Inc.

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Form 8-K Vinco Ventures, Inc.

M2 Compliance, 21 January 2021

On January 19, 2021, Vinco Ventures, Inc. (“Vinco Ventures”), ZVV Media Partners, LLC (the “Company”) and Zash Global Media and Entertainment Corporation (“ZASH”) entered into a Contribution Agreement (the “Agreement”). Vinco Ventures and ZASH desire to establish the newly formed Company in order to engage in the development and production of consumer facing content and related activities.

Under the terms of the Agreement, Vinco Ventures and ZASH shall contribute certain assets (the “Contributed Assets”) to the Company. At Closing, Vinco Ventures and ZASH shall enter into a limited liability operating agreement of the Company and a content distribution agreement with American Syndication Media Corporation (“ASMC”). The Company shall not assume any liabilities of either Vinco Ventures or ZASH except those liabilities arising in or specifically relating to periods, events or occurrences happening with respect to the Contributed Assets on or after the Closing Date. In consideration of the Contributed Assets, the Company shall issue to Vinco Ventures and ZASH 5,000 Units. The transaction closed on January 19, 2021.

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Article: Vinco Ventures skyrockets over 300% after inking merger deal with Zash

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Vinco Ventures skyrockets over 300% after inking merger deal with Zash

Will Daniel, 21 January 2021

“The Company’s proprietary Influencer Platform led to over 2 billion video views within a 30-day period. With a current follower network of over 350+ million, we are poised to revolutionize the next generation of video distribution,” said Brian McFadden, Chief Strategy Officer of Zash.

Zash uses its analytics and distribution technology to ensure as many eyes as possible are on its partners’ content.

“We utilize data, metadata, and the IoT [Internet of Things] to meet the ever-changing engagement and content demands of content developers, consumers, and creators,” said Vince Butta, ZASH co-founder. “The unique monetization model for our global ecosystem of platforms really differentiates ZASH.”

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Article: Semion Mogilevich Today: Where Is the Notorious Ukrainian-Russian Mobster?

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Semion Mogilevich Today: Where Is the Notorious Ukrainian-Russian Mobster?

A new true crime documentary series dropped on Netflix on August 5, World’s Most Wanted, which profiles five of the most notorious fugitives of the past few decades.

One of the episodes focuses on Ukrainian-Russian mobster Semion Mogilevich, who is considered by many agencies to be the “boss of bosses” of the majority of Russian mafia organizations.

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?