Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
‘Despondent’ Musk’s Tesla resembles Lehman, Greenlight’s Einhorn says
Jennifer Ablam, Jonathan Stempel
Reuters, 5 October 2018
Hedge fund manager David Einhorn lambasted Tesla Inc (TSLA.O) and its “despondent” Chief Executive Elon Musk on Friday, comparing the electric car company to Lehman Brothers Holdings Inc, where he had flagged accounting problems several months before its 2008 collapse.
Benzinga Newsdesk , Benzinga Staff Writer , 04 October 2018
This headline-only article is meant to show you why a stock is moving, the most difficult aspect of stock trading. Every day we publish hundreds of headlines on any catalyst that could move the stocks you care about on Benzinga Pro, our flagship platform for fast, actionable information that promotes faster, smarter trading. Continue reading “Article: ‘Sure would be quite the story if a Major Broker Dealer is Naked Shorting $OSTK . Where oh where is all the volume in the stock coming from if there is less than 15 million shares in the Float. Lets see how this plays out’ -Short Seller Marc Cohodes Tweets”
Manulife clashes with short seller Muddy Waters over lawsuit outcome
RJ Dumaual, 04 October 2018
Manulife Financial Corp. rejected a short seller’s statements that the company could lose billions of dollars if it loses a lawsuit concerning a universal life policy issued in the 1990s. Hedge fund Mosten Investment LP sued Manulife, claiming that it should be able to deposit as much capital as it can with the Canadian insurer and reap at least 4% in annual interest due to an insurance contract signed in 1997, Bloomberg News reported.
Muddy Waters Capital LLC disclosed a short position in Manulife and said in a report that the insurer is facing billions in losses, Bloomberg reported. Muddy Waters founder Carson Block expects a verdict in 2018. Holders of the policies were allowed to invest in side accounts with guaranteed rates of up to 4%, according to Canada’s Financial Post. The policies were issued at a time of high interest rates and could be profitable for firms amid a low rate environment.
Continue reading “Article: Manulife clashes with short seller Muddy Waters over lawsuit outcome”
CIM Securities, LLC Fined by FINRA
3 October 2018
A Letter of Acceptance, Waiver and Consent (AWC) was
issued in which the firm was censured and fined $15,000. Without admitting
or denying the findings, the firm consented to the sanctions and to the
entry of findings that it failed to comply with its obligations to review,
approve, document and supervise private securities transactions by three
of its registered representatives.
Fact check: Trump says Blumenthal lied (he did) and bragged (he didn’t)
Jane C. Timm, 30 September 2018
President Donald Trump attacked Sen. Richard Blumenthal, D-Conn., for misleading voters, making some false claims of his own in the process.
“Senator Richard Blumenthal must talk about his fraudulent service in Vietnam, where for 12 years he told the people of Connecticut, as their Attorney General, that he was a great Marine War Hero. Talked about his many battles of near death, but was never in Vietnam. Total Phony!” Trump tweeted. Continue reading “Article: Fact check: Trump says Blumenthal lied (he did) and bragged (he didn’t)”
Deutsche Bank fined $205M for ‘unsound’ conduct in Forex trading business
Jaclyn Jaeger, 29 September 2028
The New York State Department of Financial Services (NYDFS) has fined Deutsche Bank $205 million as part of a consent order for violations of New York banking law, including efforts to improperly coordinate trading activity through online chat rooms, improperly sharing confidential customer information, trading aggressively to skew prices, and misleading customers.
The violations, announced on June 20, stem from an investigation by NYDFS determining that from 2007 to 2013, when Deutsche Bank was the largest foreign exchange dealer in the world, the bank repeatedly engaged in improper, unsafe, and unsound conduct in its foreign exchange business due to its failures to implement effective controls. In addition, for certain time periods, limited elements of Deutsche Bank’s electronic trading platforms had the potential to improperly disadvantage customers and improperly affect markets, when certain applications did not perform as intended. Continue reading “Article: Deutsche Bank fined $205M for ‘unsound’ conduct in Forex trading business”
Bank of America Merrill Lynch cracks down on risky securities with ban on penny stocks
Hugh Son and Leslie Picker
CNBC, 28 September 2018
Penny stocks can easily be manipulated for fraudulent purposes, according to talking points distributed to Merrill Lynch brokers.
Comment: Another way to manipulate the marketplace.
Will Naked Short Sellers Torpedo The Trump Bull Market?
Richard Levick
Forbes, 26 September 2018
Nevermind the succession of new tariffs that beclouds the prospect of sustained economic growth. Some observers believe even greater threats to the “Trump Rally” are rooted deep within our financial markets – specifically, in the sort of systematized and pandemic short-selling that can roil market innovators like Tesla, not to mention small and midcap companies that are much more vulnerable to manipulation. One might wonder which burgeoning new industries are on the current hit list. Publicly traded marijuana companies are mentioned often.
DoorDash customers say their accounts have been hacked
Zack Whittaker, 26 September 2018
Food delivery startup DoorDash has received dozens of complaints from customers who say their accounts have been hacked.
Dozens of people have tweeted at @DoorDash with complaints that their accounts had been improperly accessed and had fraudulent food deliveries charged to their account. In many cases, the hackers changed their email addresses so that the user could not regain access to their account until they contacted customer services. Yet, many said that they never got a response from DoorDash, or if they did, there was no resolution.
Several Reddit threads also point to similar complaints.
DoorDash is now a $4 billion company after raising $250 million last month, and serves more than 1,000 cities across the U.S. and Canada.
Continue reading “Article: DoorDash customers say their accounts have been hacked”
Why You Shouldn’t Listen to Jim Cramer
Nick Kapur, 24 September 2018
Nearly 11 months ago and thanks in no small part to the statement above, I concluded that Jim Cramer was a menace to investors.
It only took a few months for the rest of the nation to catch on. John Stewart finally jumped on the bandwagon in March, exposing the man for what I think he really is: an entertaining (if not, irritating) media personality, but certainly not the champion of the individual shareholder that he often claims to be.
Continue reading “Article: Why You Shouldn’t Listen to Jim Cramer”
Interested In Crius Energy Trust (TSE:KWH.UN)’s Upcoming US$0.07 Dividend? You Have 4 Days Left
Becky Mayes, 22 September 2018
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: Interested In Crius Energy Trust (TSE:KWH.UN)’s Upcoming US$0.07 Dividend? You Have 4 Days Left”
Lenore Fedow, 19 September 2018
Tilray Inc (NASDAQ:TLRY) set the cannabis space ablaze following an interview with CNBC’s Jim Cramer, sending its shares surging double digits. But short-seller Andrew Left’s Citron Research had some harsh words to share about the Canadian cannabis company.
Citron Research was previously bullish on Tilray following Constellation Brands Inc‘s (NYSE:STZ) additional US$4bn investment in its rival Canopy Growth Inc (NYSE:CGC, TSX:WEED). Left had said it could be the next marijuana company to get a “white knight at a premium to market.”
The short-seller has cast doubt on other cannabis stocks via Twitter Inc (NYSE:TWTR) as well, including Cronos Group Inc (NASDAQ:CRON, CSE:CRON) and Namaste Technologies Inc (CVE:N, OTCQB:NXTTF). Shares of Tilray soared nearly 50% to US$232 in Wednesday pre-market trading.
Continue reading “Article: Short-seller Andrew Left’s Citron Research says surge in cannabis company Tilray is ‘beyond comprehension’”
Viceroy alleges Pretium facing personnel ‘exodus’
Kip Keen, 31 October 2020
Viceroy Research alleged there was a personnel “exodus” at Pretium Resources Inc. based on a list it compiled of 38 personnel changes at the gold miner in the past year or so. “Our industry consultants have expressed serious discomfort with the extent of the level of resignations, even when considering many staff were assigned on a contract basis for development works,” Viceroy Research said in a report it published Sept. 18.
It said that turnover appears to include Brucejack’s general manager Kevin Torpy who, Viceroy noted, is said to have joined Titan Mining Corp. Titan issued a press release about Torpy’s appointment as vice president of operations on Sept. 17. Viceroy said it appears Torpy left the company “in the wake of the increased scrutiny” that has come from its reports.
The allegations are the latest in Viceroy’s shorting campaign against Pretium. It has published three reports, alleging operational irregularities at Pretium’s Brucejack gold mining operations in British Columbia.
Continue reading “Article: Viceroy alleges Pretium facing personnel ‘exodus’”
Michelle Celarier, 17 September 2018
It’s a sweltering, 95-degree August day in Manhattan, but Jim Chanos — fresh off a two-week holiday, rocking a sharkskin suit — is pumped: Elon Musk had once again called a hero of the Thai cave rescue a pedophile. It’s 1:30 in the afternoon. Chanos bolts through the door to his office building on West 55th Street, grabs the journalist waiting for him, and, on the elevator ride to his eighth-floor office, fills her in on the latest news. Continue reading “Article: How Jim Chanos Uses Cynicism, Chutzpah — and a Secret Twitter Account — to Take on Markets (and Elon Musk)”
Our Final Word on $TLRY before $50
Citron Research, 12 September 2018
Tilray management is not stupid. Just seven weeks ago Tilray decided to go public with an offering price of $17. This was done with much deliberation between them and their many bankers. With this price Citron believes they took into consideration all future deals and partnerships that the company had been planning.
The recent cannabis stock rally is a US phenomenon fueled by retail investors. Since August 15, US marijuana stocks Tilray and Cronos have significantly outpaced the performance of their Canadian traded peers.
Due to federal regulation, US listed stocks cannot have any operations in the US without losing their listings, whereas Canadian listed stocks can have US operations. The US will be the largest cannabis market in the world. Today, the California market is over 5x larger than all of Canada. Despite obvious logic, we’ve seen US retail investors pile into the US listed marijuana stocks.
Continue reading “Article: Our Final Word on $TLRY before $50”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
