Citadel CEO Ken Griffin on the current two day period to settle stock transactions (T + 2): We should push now for T +1 settlement. We will one day go to real-time settlements.@CNBC @citsecurities $GME
— Bob Pisani (@BobPisani) February 18, 2021
Tweet: Wall Streets Dirty Secret!
TweetWALL STREETS DIRTY SECRET!!Pensions Plans provide the fuel to Short selling Hedge funds. Wanna stop abusive short selling?? Pensions should stop lending @cvpayne pic.twitter.com/fGMacZ1x99
— John Tabacco (@JohnnyTabacco) February 18, 2021
Article: As Hearing Looms, Here Is How Gamma Was Weaponized Against GameStop
Article - Media, PublicationsAs Hearing Looms, Here Is How Gamma Was Weaponized Against GameStop
Tyler Durden, 17 February 2021
In late January 2021, GameStop experienced a once-in-a-decade squeeze that has captivated the world’s attention. It was a premeditated and programmatic exercise, orchestrated by coordinated stock and option buying across the retail and professional community, resulting in large institutional entities losing billions of dollars. Investment houses with significant short positions did not expect a stock with GameStop’s fundamental profile to increase +2,500% in price over less than three weeks; therefore, they did not have the controls in place to handle the incredible levels of stock and call option purchases. The frenzy drew comments from the White House, provoked a social media crackdown, caused brokerage units to restrict trading, and has led to a Congressional hearing on GameStop on Thursday, February 18th.
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Article: We were ‘dangerously close’ to collapse of ‘entire system,’ says Interactive Brokers founder ahead of GameStop hearing
Article - Media, PublicationsMark DeCambre, 17 February 2021
That’s Thomas Peterffy, founder and chairman of Interactive Brokers Group Inc., detailing Wednesday on CNBC the dire situation in which the market stood in late January as individual investors on social-media platforms banded together to send a handful of heavily shorted stocks, including bricks-and-mortar videogame retailer GameStop Corp. GME, -11.43% and movie chain AMC Entertainment Holdings AMC, -0.72%, to sky-high levels, with shockwaves registering throughout the market.
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Article: Reddit user behind GameStop saga releases opening statement ahead of hearing
Article - Media, PublicationsReddit user behind GameStop saga releases opening statement ahead of hearing
Axios, 17 February 2021
Keith Patrick Gill, known on YouTube and Twitter as Roaring Kitty, released his opening statement ahead of testimony before the House Financial Services Committee on Wednesday about his role in the surge of GameStop’s stock price.
The big picture: Gill will join the CEOs of Reddit, Robinhood, Citadel and Melvin Capital at Wednesday’s hearing. The committee plans to “examine the recent activity around GameStop (GME) stock and other impacted stocks with a focus on short selling, online trading platforms, gamification and their systemic impact on our capital markets and retail investors,” per a statement by Rep. Maxine Waters (D-Calif.), chair of the committee.
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Article: Citadel’s Griffin Likely To Be The Biggest Target Of Thursday’s Congressional Hearings
Article - Media, PublicationsCitadel’s Griffin Likely To Be The Biggest Target Of Thursday’s Congressional Hearings
Tyler Durden, 17 February 2021
Despite the fact that it was reported on Wednesday that Reddit ringleader Deepf*ckingvalue was being sued for securities fraud in the GameStop fiasco, Ken Griffin’s Citadel is likely going to be the biggest target during Thursday’s congressional hearings.
At the core of the runup in GameStop stock was Griffin’s Citadel, executing trades on behalf of Robinhood, who it pays for order flow. Griffin was also at the center of the controversy due to one of his other businesses offering up a $2 billion bailout to Melvin Capital, who was hit hard by the runup in shares.
And so, Griffin will likely become the target for all types of grandstanding and faux outrage at Thursday’s hearing, where a clueless House Financial Services Committee will do their best to fake any understanding of capital markets while attempting to put on a political show. Citadel could be the scapegoat for all types of new financial regulation, Bloomberg wrote on Wednesday.
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Article: Here Are The Prepared Remarks For Tomorrow’s “Game Stopped” Hearings
Article - Media, PublicationsHere Are The Prepared Remarks For Tomorrow’s “Game Stopped” Hearings
Tyler Durden, 17 February 2021
On Thursday, the House Financial Services Committee will convene its planned hearing on the Gamestop trading fiasco, where the heads of Citadel, Robinhood, Reddit and Melvin Capital will come together to face off against Democrats like Committee Chairwoman Maxine Waters and AOC.
Ahead of that, some of the planned testimonials have been released.
Below, find remarks from Keith Gill, a Youtuber/Redditor best known as “RoaringKitty”. In his testimony, the trader- who is facing a lawsuit related to his trading and online antics – insists that he still believes in his “fundamental case” for being long Gamestop, and insists he didn’t try and pump the shares purely for his own profit.
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Article: Why Palantir Technologies Stock Is Falling Today
Article - Media, PublicationsWhy Palantir Technologies Stock Is Falling Today
Lou Whiteman, 16 February 2021
Shares of Palantir Technologies (NYSE: PLTR) fell as much as 10% on Tuesday after the company released fourth-quarter results and provided guidance for the years to come. The company is forecasting dramatic growth in 2021, but much of that is arguably already priced into the shares.
Before markets opened on Tuesday, Palantir said it lost $0.08 per share in the fourth quarter on revenue of $322 million. The earnings fell short of Wall Street’s $0.02 per-share profit estimate, but the revenue beat by about $22 million.
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Article: $1,000, 5 Years Later: Valeant’s Wild Ride To Bausch Health
Article - Media, Publications$1,000, 5 Years Later: Valeant’s Wild Ride To Bausch Health
Wayne Duggan, 16 February 2021
Investors who have owned stocks since 2016 generally have experienced some big gains. In fact, the SPDR S&P 500
SPY total return in the last five years is 131.9%. But there is no question some big-name stocks performed better than others along the way.
Valeant’s Downfall: One company that has been a disastrous investment in the last five years is health care company Bausch Health Companies Inc BHC 0.06% , formerly known as Valeant Pharmaceuticals. Not only has Bausch lagged the overall market in the last five years, Valeant represents one of the most infamous stock collapses in recent decades. Bausch produces pharmaceutical products and generic drugs. It is also the parent company of eye health products leader Bausch & Lomb.
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Article: A Big Fund Bought Up Marijuana Stock Aurora Cannabis and Mastercard.
Article - Media, PublicationsA Big Fund Bought Up Marijuana Stock Aurora Cannabis and Mastercard.
Ed Lin, 15 February 2021
A large pension recently made big changes in its U.S.-traded investments. British Columbia Investment Management raised its investment in marijuana stock Aurora Cannabis (ticker: ACB), and bought more Mastercard (MA) stock, while it cut positions in Visa (V) and Shopify (SHOP) stock in the fourth quarter. The manager of the Canadian province’s public funds disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.
BCI, as the pension is known, declined to comment on the investment changes. It manages $135 billion in assets. BCI bought 232,058 additional shares of Aurora Cannabis to end 2020 with 290,404 shares.
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Article: The $63 TRILLION Dollar Company that Robinhood CEO Vlad “Doesn’t Really Know the Details of” and the $GME Scandal
Article - Media, PublicationsInverseyourself, 15 February 2021
Yes, there is a US company with assets of $63 trillion that you haven’t heard about. That’s a problem. And it’s time this company that’s relevant to the $GME scandal testify to Congress. The People demand to know if the system is working fairly for all.
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Article: Is Now The Time To Look At Buying Avery Dennison Corporation (NYSE:AVY)?
Article - Media, PublicationsIs Now The Time To Look At Buying Avery Dennison Corporation (NYSE:AVY)?
Simply Wall St, 12 February 2021
Let’s talk about the popular Avery Dennison Corporation (NYSE:AVY). The company’s shares received a lot of attention from a substantial price increase on the NYSE over the last few months. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. However, what if the stock is still a bargain? Let’s take a look at Avery Dennison’s outlook and value based on the most recent financial data to see if the opportunity still exists.
Is Avery Dennison still cheap?
The stock is currently trading at US$173 on the share market, which means it is overvalued by 40% compared to my intrinsic value of $123.96. This means that the buying opportunity has probably disappeared for now. Furthermore, Avery Dennison’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. If you believe the share price should eventually reach its true value, a low beta could suggest it is unlikely to rapidly do so anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range.
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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: Americas Gold and Silver Corporation (TSE:USA) Shares Could Be 33% Below Their Intrinsic Value Estimate
Article - Media, PublicationsSimply Wall St, 03 February 2021
In this article we are going to estimate the intrinsic value of Americas Gold and Silver Corporation (TSE:USA) by projecting its future cash flows and then discounting them to today’s value. This will be done using the Discounted Cash Flow (DCF) model. Before you think you won’t be able to understand it, just read on! It’s actually much less complex than you’d imagine.
Remember though, that there are many ways to estimate a company’s value, and a DCF is just one method. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.
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Article: Market manipulation or David vs Goliath? Unpacking the Reddit trader phenomenon — podcast
Article - Media, PublicationsMarket manipulation or David vs Goliath? Unpacking the Reddit trader phenomenon — podcast
Gabriel Friedman, 03 February 2021
David Goldreich is a professor of finance at the University of Toronto’s Rotman School of Management; and Pauline Shum Nolan is a professor of finance at York University’s Schulich School of Management, and also the chief executive of Wealthscope, an investor analytics company.
GameStop’s incredible ride isn’t over, but it’s clear that a group of small investors used the internet to band together and stake out a position that put them at odds with several deep-pocketed hedge funds. In an inversion of the usual power dynamics, at least a few hedge funds have reported deep losses, and at least a few of the smaller investors are reporting big gains.
