Category: Publications

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Article: Explainer: How were more than 100% of GameStop’s shares shorted?

Article - Media, Publications

Explainer: How were more than 100% of GameStop’s shares shorted?

John McCrank, 18 February 2021

NEW YORK (Reuters) – One area of focus from a U.S. House of Representatives panel on Thursday will likely be on the role short selling played in the GameStop market mayhem.

Executives from trading platform Robinhood and hedge funds Melvin Capital and Citadel will be grilled following the retail-driven trading frenzy that sparked wild gyrations in GameStop and other heavily shorted stocks. Continue reading “Article: Explainer: How were more than 100% of GameStop’s shares shorted?”

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Article: SEC Data Show $359 Million of GameStop Shares Failed to Deliver

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SEC Data Show $359 Million of GameStop Shares Failed to Deliver

Brandon Kochkodin, Bloomberg, 17 February 2017

  • GameStop surged more than 1,700% before curbs were implemented
  • More than 2 million shares failed to deliver at peak of mania

“Fails-to-deliver can occur for a number of reasons on both long and short sales,” reads a disclaimer on the SEC website. “Therefore, fails-to-deliver are not necessarily the result of short selling, and are not evidence of abusive short selling or ‘naked’ short selling.”

Comment: The SEC is full of shit and a RICO organization complicit in Class A felonies enabled by the Department of Justice and the Senate Banking Committee. For the slow learners, start with the Cartoons.

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Article: GameStop Frenzy Prompts SEC to Weigh More Short Sale Transparency

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GameStop Frenzy Prompts SEC to Weigh More Short Sale Transparency

House lawmakers meeting Thursday plan to examine the GameStop trading and discuss the dearth of short-sale data

Dave Michaels and Dawn Lim, Wall Street Journal, 17 February 2021

The Securities and Exchange Commission was ordered 11 years ago to impose such rules but never did it. Now, dealing with the fallout from frenetic trading in GameStop Corp. shares, the agency under new leadership is considering using its authority to shine more light on the mechanics of the bearish trades.

Comment: Bearish trades my ass. Naked short selling is a Class A Felony. It is counterfeiting.  It is fraud, It is cheating widows and orphans and wiping out inventors and entrepreneurs, turning gold into lead for profit. It is also on occasion collusion with foreign governments (the UK more often than China) and thus treason, sabotaging the US economy the US now being in a state of war.

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Web: SEC Data Show $359 Million of GameStop Shares Failed to Deliver – Thank you Bloomberg for finally reporting the news

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SEC Data Show $359 Million of GameStop Shares Failed to Deliver – Thank you Bloomberg for finally reporting the news

Reddit, 17 February 2021

As usual, Bloomberg posting some truth embedded in a sea of lies and narrative.

“GameStop stock, for months among the most heavily shorted on the New York Stock Exchange, surged more than 1,700% from Jan. 1 through Jan. 27 as a legion of Reddit users piled on, forcing bearish traders to scramble for shares and brokers to take the highly unusual step of curbing trading.”

Read more at: https://www.bloombergquint.com/onweb/sec-data-show-359-million-of-gamestop-shares-failed-to-deliver

Apparently “unusual” is the new term for “illegal” 🤦🏻‍♂️

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Article: Reddit Trader Roaring Kitty Accused Of Fraud In The Latest Wild Lawsuit Coming Out Of GameStop Saga

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Reddit Trader Roaring Kitty Accused Of Fraud In The Latest Wild Lawsuit Coming Out Of GameStop Saga

Jonathan Ponciano, 17 February 2021

One of the most outspoken retail traders on Reddit’s WallStreetBets discussion board has been targeted in a proposed class-action lawsuit alleging the 34-year-old securities broker behind the widely followed “Roaring Kitty” persona committed securities fraud for misrepresenting himself as an amateur trader online while pumping up GameStop stock prices.

“As a licensed securities professional, including the period he was licensed by and associated with MML and MassMutual, Gill was obligated to follow various securities laws, [SEC] rules and regulations and FINRA rules,” the 38-page suit says. The suit specifically references five securities rules, including one that requires licensed securities professionals to observe “high standards of commercial honor and just and equitable principles of trade” while conducting business and another saying that their public communications–on social media included–should “be fair and balanced” and “not omit any material fact or qualification” if the omission could mislead investors.

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Article: As Hearing Looms, Here Is How Gamma Was Weaponized Against GameStop

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As 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.
Continue reading “Article: As Hearing Looms, Here Is How Gamma Was Weaponized Against GameStop”

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Article: We were ‘dangerously close’ to collapse of ‘entire system,’ says Interactive Brokers founder ahead of GameStop hearing

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We were ‘dangerously close’ to collapse of ‘entire system,’ says Interactive Brokers founder ahead of GameStop hearing

Mark 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.
Continue reading “Article: We were ‘dangerously close’ to collapse of ‘entire system,’ says Interactive Brokers founder ahead of GameStop hearing”

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Article: Reddit user behind GameStop saga releases opening statement ahead of hearing

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Reddit 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.
Continue reading “Article: Reddit user behind GameStop saga releases opening statement ahead of hearing”

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Article: Citadel’s Griffin Likely To Be The Biggest Target Of Thursday’s Congressional Hearings

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Citadel’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.
Continue reading “Article: Citadel’s Griffin Likely To Be The Biggest Target Of Thursday’s Congressional Hearings”

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Article: Here Are The Prepared Remarks For Tomorrow’s “Game Stopped” Hearings

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Here 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.

Continue reading “Article: Here Are The Prepared Remarks For Tomorrow’s “Game Stopped” Hearings”

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Article: Class Action Lawsuit Filed Against ‘Roaring Kitty’ After GameStop Short Squeeze: What You Need To Know

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Class Action Lawsuit Filed Against ‘Roaring Kitty’ After GameStop Short Squeeze: What You Need To Know

Melanie Schaffer, 17 February 2021

Lawsuits related to the Gamestop Corporation GME 0.1% short squeeze have been stacking up following the volatile trading in the stock in January.

Keith Patrick Gill, viewed by many as the leader of the debacle, is now facing a class action lawsuit. What Happened: On Tuesday, the law firm Hagens Berman announced that it has filed a securities class action suit against Gill in U.S. District Court, accusing him of “price manipulation of GameStop stock.”

Gill is known as “Roaring Kitty” on YouTube and DeepF*ckingValue on Reddit. In prepared remarks Gill plans to deliver to the U.S. House Committee on Financial Services on Thursday, he denies wrongdoing.

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Article: House Hearing On GameStop Fiasco Will Focus On “Short Selling And Stock Manipulation”

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House Hearing On GameStop Fiasco Will Focus On “Short Selling And Stock Manipulation”

Tyler Durden, Zero Hedge, 16 February 2021

In order to affect change, one has to understand the problem before them. It is by those standards we can confidently say we are near-certain that this week’s upcoming congressional hearings on the GameStop fiasco will be both a useless circus and a intellectual farce.

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Mark Cohodes Hears From Robert Steele Tik Tok Tik Tok

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Mark Cohodes posted this to his “private” twitter:

Robert Steele, intelligence professional, responded:

NOTE: Mr. Cohodes is believed to be well aware there were 50 million counterfeit shares. Evidence of both that fact and his knowledge of and engagement with that fact can be presented to a court court.  Mr. Cohodes should have  his day in court — in fact, he should have many days in many courts in CA, UK, and US. Tik tok, tik tok . . .

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Article: Here’s what to expect at the congressional hearings on GameStop and Robinhood

Article - Media

Here’s what to expect at the congressional hearings on GameStop and Robinhood

Scum sucking sack of shit lawmakers will seek to make headlines, not legislation — and all the witnesses are probably RICO eligible!

Chris Matthews, MarketWatch, 16 February 2021

Executives at Robinhood, market maker Citadel Securities, hedge fund Melvin Capital, social media firm Reddit, and Keith Gill, an independent investor who found fame and riches with his early purchases of GameStop Inc. GME, -5.52% shares, will all testify at the hearing, scheduled for noon on Thursday. Here’s what to expect:

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?