GME Stock News: GameStop Corp plummets on share sale and SEC investigation
Stocks Reporter, 11 June 2021
NYSE:GME may be seeing the beginning of the end of its coordinated short squeezes as the SEC and big banks are closing in. Shares of GameStop went into freefall on Thursday, dropping by more than 27% to close the day at $220.39, as investors were less than thrilled following GameStop’s annual shareholder meeting. We previously mentioned that GameStop has a habit of plunging the day after its annual meeting, and it is interesting to see that this year was no different. Continue reading “Article: GME Stock News: GameStop Corp plummets on share sale and SEC investigation”
Former NYSE Trader on GameStop Earnings and Naked Shorts
thestreet, 10 June 2021
Momentum stocks, which have been dubbed “meme stocks” by mainstream media and Wall Street, have taken the stock market by storm in the last six months.
Earlier this week, stocks such as GameStop (GME) – Get Report and AMC (AMC) – Get Report were seeing positive momentum. Even stocks like Clover (CLOV) – Get Report and Wendy’s (WEN) – Get Report joined them.
However, GameStop’s momentum turned negative in Thursday intraday trading following the company’s earnings report late Wednesday. Continue reading “Article: Former NYSE Trader on GameStop Earnings and Naked Shorts”
U.S. stocks end lower ahead of inflation report
Stephen Culp, 09 June 2021
NEW YORK (Reuters) – Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.
The retail “meme stock” craze continued unabated. All three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts. Continue reading “Article: U.S. stocks end lower ahead of inflation report”
Clover Health Short Sellers Lost $502M On Tuesday
Wayne Duggan, 09 June 2021
Love it or hate it, Medicare insurance technology company Clover Health Investments Corp CLOV is the latest Reddit short squeeze stock ripping higher this week.
The stock gained 86% on heavy volume Tuesday as a massive short squeeze continued, and S3 Partners analyst Ihor Dusaniwsky said Clover short sellers are racking up major losses. Continue reading “Article: Clover Health Short Sellers Lost $502M On Tuesday”
Wall Street languid as “meme stock” frenzy hogs spotlight
Stephen Culp, 08 June 2021
Wall Street stocks wavered near the starting line on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders kept the rally of so-called meme stocks alive. All three major U.S. stock indexes were little changed, with the S&P (.SPX) and the Dow (.DJI) hovering within 1% of their record closing highs.
The tech-laded Nasdaq (.IXIC) fared best, with Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) providing the biggest boost. The CBOE volatility index (.VIX), a measure of investor anxiety, touched its lowest level in over a year. Continue reading “Article: Wall Street languid as “meme stock” frenzy hogs spotlight”
Clover Health jumps 13% as ‘meme stock’ rally builds
Aaron Saldanha, 08 June 2021
The social-media driven rally has sent shares of companies including AMC Entertainment Holdings Inc and GameStop Corp zooming this year in a bid to squeeze Wall Street short-sellers, and has prompted the U.S. Securities and Exchange Commission to say it was looking into signs of market manipulation.
Medicare-backed insurance seller Clover and electric-truck maker Workhorse Group Inc are among the most shorted stocks across U.S. exchanges, with Clover being the target of short seller Hindenburg in February. Continue reading “Article: Clover Health jumps 13% as ‘meme stock’ rally builds”
Meme Stocks Mania: What Is ‘Naked Shorting’ and Why Is It Trending on Twitter?
William White, 07 June 2021
Naked shorting is trending on Twitter (NYSE:TWTR) today and it looks like there’s no end in sight to the meme stock mania as users react to the news that kicked this all off.
All of the excitement around naked shorting started after CNBC host Melissa Lee mentioned that the practice was taking place with shares of AMC Entertainment (NYSE:AMC) stock. The host said the following while discussing the matter.
“There’s a lot of people, a lot of short sellers out there borrowing stock they didn’t have.” Continue reading “Article: Meme Stocks Mania: What Is ‘Naked Shorting’ and Why Is It Trending on Twitter?”
AMC, other ‘meme’ stocks jump; regulator signals concern
Aaron Saldanha, Sinéad Carew and David Randall, 07 June 2021
(Reuters) -Shares of AMC Entertainment Holdings Inc and other “meme stocks” jumped on Monday, extending a rally in social-media favorites into a third week as message boards hummed with talk of squeezing Wall Street short-sellers.
The sharp gains prompted the U.S. Securities and Exchange Commission to say it was looking into signs of market manipulation given the “volatility in certain stocks.” The volatility has challenged analysts, and two of them in the past week have stopped covering video game retailer GameStop, whose shares soared in January in a retail-driven rally. Continue reading “Article: AMC, other ‘meme’ stocks jump; regulator signals concern”