Author: Tyler Durden / Feb 6, 2021
Article: GameStop Makes This a Good Time to Rewatch The Big Short
Article - Media, PublicationsAngela Watercutter / Jan 29, 2021
While, The Big Short may not help you understand the GameStop/Wall Street mess any better than you already do, the movie does offer some primers on the intricacies of financial markets.
https://www.wired.com/story/the-big-short-gamestop-meme-stock/
Article: Reddit Traders May Help Markets in Long Run, Canaccord CEO Says
Article - Media, Publications
Kevin Orland / Feb 4, 2021
Canaccord Genuity Group Inc. Chief Executive Officer Dan Daviau believes the recent turbulence seen on Wall Street by Reddit traders will not have a long term negative effect, but rather may have increased participation in the stock market.
https://au.news.yahoo.com/reddit-traders-may-help-markets-160932242.html
Article: Naked Shorting is Illegal: So How the Hell was GameStop 140% Short?
Article - Media, PublicationsAuthor: Mish Talk / Jan 30, 2021
GameStop was 140% short. Naked shorting is illegal. So how did it happen? The truth is, it happens everyday on Wall Street, because of loopholes and because of a lack of oversight.
https://www.thestreet.com/mishtalk/economics/naked-shorting-is-illegal-so-how-was-gamestop-140-short
Article: Hedge funds risk Biden-Era closing of money-laundering loophole
Article - Media, PublicationsAuthor: Kevin Lamarque / Feb 5, 2021
The US has intensified its crackdown on dirty money in recent years, requiring banks, brokerages and mutual funds to monitor clients and report suspicious activity. But investment advisers overseeing trillions of dollars in private equity and hedge funds are exempt from such rules.
Article: ‘Global Trade’ Super Bowl XX: U.S. Can’t Manufacture A Win Over China
Article - Media, Publications‘Global Trade’ Super Bowl XX: U.S. Can’t Manufacture A Win Over China
Ken Roberts, 05 February 2021
Let’s think about President Biden’s strategy on China this way.
It’s early Sunday evening. Tampa Bay quarterback Tom Brady is standing over his center, preparing to take his first snap at the start of Super Bowl LV.
As he barks his signals and glances left to right, right to left, into his vision comes a sea of more than 40 Kansas City Chief defenders scattered across the line of scrimmage rather than the customary 11. Continue reading “Article: ‘Global Trade’ Super Bowl XX: U.S. Can’t Manufacture A Win Over China”
Article: Form S-1 American Acquisition Opportunity Inc.
Article - Media, PublicationsForm S-1 American Acquisition Opportunity Inc.
EDGAR AGENTS LLC, 05 February 2021
American Acquisition Opportunity Inc. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination throughout this prospectus. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. While we may pursue an initial business combination target in any business or industry or geographic location, we intend to focus our search on land and resource holding companies.!–more–>
This is an initial public offering of our securities. Each unit has an offering price of $10.00 and consists of one share of our Class A common stock and one-half of one redeemable warrant as described in more detail in this prospectus. Only whole warrants are exercisable. Each whole warrant entitles the holder thereof to purchase one share of our Class A common stock at a price of $11.50 per share, subject to adjustment as described herein. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The underwriters have a 45-day option from the date of this prospectus to purchase up to an additional 1,500,000 units to cover over-allotments, if any.
Article: The Manipulative, Little Known Billionaire Who Nearly Ruined The Country’s Richest Black Person
Article - Media, PublicationsThe Manipulative, Little Known Billionaire Who Nearly Ruined The Country’s Richest Black Person
Christopher Helman, 05 February 2021
Ever since Ford Motor Company began selling its Model T in 1908, few pieces of technology have been as important to car dealer profit margins as the DocuPad.
The 45-by-29-inch flat screen sits atop a salesman’s desk, giving him the ability to quickly coax customers through what would normally be mountains of paperwork. By enabling car buyers to check boxes with a stylus and sign contracts on the interactive screen, the DocuPad takes the friction out of a car salesman’s stock in trade—the upsell. Continue reading “Article: The Manipulative, Little Known Billionaire Who Nearly Ruined The Country’s Richest Black Person”
Article: No Rest For Hong Kong Investment Bankers As Kuaishou IPO Skyrockets
Article - Media, PublicationsNo Rest For Hong Kong Investment Bankers As Kuaishou IPO Skyrockets
Brendan Ahern, 05 February 2021
Tencent-backed ByteDance rival Kuaishou Technology (1024 HK) ripped +160% in its Hong Kong IPO today in the second-best IPO performance ever behind Alibaba’s +193% gain back in 2007 (BABA went private before going public again in 2014). The company raised $5.4B from investors. Yesterday we did a deep dive on the company, which you can access here.
The value traded in Kuaishou was nearly 3X the second most traded stock worth $4.84 billion as 119 million shares traded hands today. Several brokers noted the company’s market cap of $158 billion is more than three Hong Kong banks, HSBC, Standard Chartered, and Hang Seng, combined! The Hong Kong IPO frenzy is going to continue with rumors overnight that Tencent Music Entertainment TME -4% is working on a Hong Kong IPO along with Baidu BIDU -0.3%. Bloomberg noted that ByteDance might want to take advantage of the valuation given to Kuaishou and pursue an IPO itself, similar to when Uber UBER +2% went public after seeing Lyft’s LYFT +0.2% success at doing so. Continue reading “Article: No Rest For Hong Kong Investment Bankers As Kuaishou IPO Skyrockets”
Article: The Stock Market Is Broken, Now For All To See
Article - MediaThe Stock Market Is Broken, Now For All To See
Authored by Wolf Richter via WolfStreet.com,
The historic short squeeze, engineered by a bunch of deeply cynical small traders, exposed just how rigged the market has been…
Article: Why the Reddit trading frenzy and short selling won’t work in China
Article - Media, PublicationsWhy the Reddit trading frenzy and short selling won’t work in China
Evelyn Cheng, 04 February 2021
The recent short selling frenzy on Wall Street will not likely come to China, where there are many more market restrictions. Short selling refers to a trading strategy that allows investors to bet that the price of a stock or security will fall.
To short a stock, investors borrow shares and sell them, then ideally buy them back at a lower price later, and pocket the profits made. If the share price does not drop, the short seller will try to minimize losses by buying back the stock, which now costs more. Investors in mainland China have a limited ability to short stocks — a sign that the local markets are still immature. Tight regulation and online censorship in China also contribute to different investor behavior versus that of the U.S. Continue reading “Article: Why the Reddit trading frenzy and short selling won’t work in China”
Article: Reddit And GameStop Lessons: Former SEC Enforcement Chief Explains Stock Manipulation And How To Avoid Trouble
Article - Media, PublicationsBruce Brumberg, JD, 04 February 2021
As just about everyone knows by now, investors communicating on the Reddit forum WallStreetBets drove up the stock price of GameStop while openly discussing both their tactics and their reasoning. Some of them purchased GameStop shares as part of a strategy expressly intended to squeeze hedge funds that were shorting the stock. Others simply saw the stock as undervalued.
Will they face charges of stock-market manipulation from the SEC, or even criminal charges? What can investors legally say about a company that could move its share price? What trades can they make individually or together without risk of a government crackdown? Continue reading “Article: Reddit And GameStop Lessons: Former SEC Enforcement Chief Explains Stock Manipulation And How To Avoid Trouble”
Article: Reddit day traders wanted to beat Wall Street to prove the system is rigged. Instead, they did it by losing.
Article - Media, PublicationsTyler Sonnemaker , 04 February 2021
Keith Gill, the day-trading member of the Reddit group Wall Street Bets who is widely credited with igniting the recent GameStop trading frenzy, claimed in late January that he had turned his $54,000 investment into a $48 million fortune.
Days later, it had been sliced by more than half to $22 million, and regulators had set their sights on Gill, investigating him over potential disclosure violations.
Article: American Acquisition Opportunity Inc.
Article - Media, PublicationsAmerican Acquisition Opportunity Inc.
EDGAR AGENTS LLC, 04 Febraury 2021
American Acquisition Opportunity Inc. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination throughout this prospectus. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. While we may pursue an initial business combination target in any business or industry or geographic location, we intend to focus our search on land and resource holding companies. Continue reading “Article: American Acquisition Opportunity Inc.”
Article: Short-seller Marc Cohodes strikes back on Reddit saga as GameStop shares tumble again
Article - Media, PublicationsShort-seller Marc Cohodes strikes back on Reddit saga as GameStop shares tumble again
Jim Armitage, 04 February 2021
A highly regarded short-seller has written a heartfelt defence of his breed to US senators investigating hedge funds’ role in the Reddit GameStop saga just before shares in the company fell a further 35% Marc Cohodes’ lawyer has written to Senators on the senate committees on Banking and Home Affairs about GameStop to declare: “The share price was not manipulated down; it was manipulated up.” Continue reading “Article: Short-seller Marc Cohodes strikes back on Reddit saga as GameStop shares tumble again”
