Deja Vu All Over Again: Gamestop Soars Over 300% As ‘Gamma Squeeze’ Returns
Tyler Durden, Zero Hedge, 24 February 2021
Lots of charts, Melvin Capital is fucked. Great day.
Article: DTCC Proposes Shortening US Trading Settlement Cycle To T+1: Here’s Why That’s Important
UncategorizedDTCC Proposes Shortening US Trading Settlement Cycle To T+1: Here’s Why That’s Important
Wayne Duggan, Benzinga, 24 February 2021
ROBERT STEELE: This article is such crap. As if DTCC had not willfully covered up $100 trillion in naked short counterfeit sales these past 15-20 years. Until DTCC is given a porcupine enema and we sent DOJ, FBI, and US Southern District Attorneys to jail for life for treason — enabling foreign collusion and domestic crime against the US economy — for life, this will not change.
Article: EU Watchdog Wants Zero-Commission Probe After GameStop
Article - Media, PublicationsEU Watchdog Wants Zero-Commission Probe After GameStop
Irene Madongo, 24 February 2021
Commission-free trading should be scrutinized following the extreme volatility of stock in GameStop driven by a surge in trading using social media, according to the head of the European Union’s markets regulator.
Steven Maijoor, chairman of the European Securities and Markets Authority, took aim on Tuesday at a move toward allowing investors to trade stocks for free. He told the European Parliament’s economic affairs committee that low-cost or no-cost trading can create less transparency for investors. Continue reading “Article: EU Watchdog Wants Zero-Commission Probe After GameStop”
Article: Hedge fund manager Plotkin’s GameStop short, dissected
Article - Media, PublicationsHedge fund manager Plotkin’s GameStop short, dissected
Hedge fund manager Gabriel Plotkin first bet against the future of GameStop Corp in 2014 when it traded around US$40. But after a harrowing experience with short sellers in recent weeks, he’s wary about holding big short positions again.
BOSTON: Hedge fund manager Gabriel Plotkin first bet against the future of GameStop Corp in 2014 when it traded around US$40. But after a harrowing experience with short sellers in recent weeks, he’s wary about holding big short positions again.
Article: U.S. securities regulator suspends trading in three more ‘meme stocks’
Article - Media, PublicationsU.S. securities regulator suspends trading in three more ‘meme stocks’
Chris Prentice, 19 February 2021
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Friday suspended trading in more securities that have seen jumps in both prices and trading volumes since late January amid social media interest.
The SEC temporarily suspended trading of Marathon Group Corp, Affinity Beverage Group Inc, and Sylios Corp beginning on Friday and ending on March 4, the SEC said in statements published on its website. Continue reading “Article: U.S. securities regulator suspends trading in three more ‘meme stocks’”
Article: How were more than 100% of GameStop’s shares shorted?
Article - MediaHow were more than 100% of GameStop’s shares shorted?
John McCrank, Reuters, 18 February 2021
But Vlad Tenev, broker Robinhood’s chief executive officer, recently pointed out that some of the stocks involved in the “meme stock” rally were more than 100% shorted, implying that more shares were shorted than were available to trade.
“I just think that’s pathological,” he said on the All-In Podcast late last Friday. “You end up with this situation that could destabilize the financial markets.”
Tweet: Citadel Bribes Congress?
TweetIn 2020 Citadel affiliates donated $68 mill to political groups. Included was $37 mill to Senate Leadership Fund and $10 mill to Congressional Leadership Fund. #Robinhood #GameStop
— B.P. Rising (@BP_Rising) February 18, 2021
Article: Trading hot stocks like GameStop seems fun until you look beneath the surface
Article - MediaTrading hot stocks like GameStop seems fun until you look beneath the surface
Congress is asking questions about whether middlemen or “market makers” like Citadel that execute stock trades really give small investors the best prices.
Gretchen Morgenson, ABCNews, 18 February 2021
Market makers like Citadel make money by pocketing the difference between the price at which they buy shares — the bid — and the price they receive from selling them to Robinhood clients, the offer. Other firms in the business are Virtu Americas, G1X Execution Services and Two Sigma Securities.
Article: GameStop frenzy sparks fresh investment in stock-trading apps
Article - Media, PublicationsGameStop frenzy sparks fresh investment in stock-trading apps
Jane Lanhee Lee, 18 February 2021
OAKLAND, Calif. (Reuters) – The recent trading frenzy centered on GameStop Corp and other “meme” stocks is sparking a wave of investor interest in start-ups aiming to mimic the success of Robinhood Markets Inc, whose no-fee brokerage app has helped drive a trading boom.
Public.com, a direct competitor to Robinhood that boasts a host of blue-chip backers, said on Wednesday it had raised $220 million, valuing it at $1.2 billion on the private market. Another well-heeled rival, Stash, said earlier this month it had raised $125 million, while Webull Financial LLC, backed by Chinese investors, is also raising fresh funds after enjoying an influx of new users.
Robinhood, meanwhile, raised some $3.4 billion in the midst of the GameStop furor to assure its stability amid rapid growth and demands by its trading partners that it post more collateral. Continue reading “Article: GameStop frenzy sparks fresh investment in stock-trading apps”
Article: Watch Live: GameStop Hearing On Market Manipulation
Article - Media, PublicationsWatch Live: GameStop Hearing On Market Manipulation
Jonathan Ponciano, 18 February 2021
A Congressional hearing into the GameStop mania that triggered the largest weekly selloff since late October is underway, with some of the key players in the saga—billionaire Citadel CEO Kenneth Griffin, Robinhood CEO Vladimir Tenev, Reddit Cofounder Steve Huffman and the 34-year-old securities broker behind the Roaring Kitty online persona—all set to testify.
Committee Chair Maxine Waters (D-Mo.) kicked off the hearing by asking Tenev whether he misled investors on January 28 when he denied that Robinhood had a liquidity problem despite raising more than $3 billion in the following days to meet reserve requirements from the Securities & Exchange Commission. Continue reading “Article: Watch Live: GameStop Hearing On Market Manipulation”
Article: Explainer: How were more than 100% of GameStop’s shares shorted?
Article - Media, PublicationsExplainer: 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?”
Tweet: Robert Steele to Dave Portnoy on Melvin Capital & NSA
Tweet@stoolpresidente Show Melvin Capital a good time — listed 10 times in tag cloud at https://t.co/fHcO89SqIU and will hit 25 times in next 30 days. See especially the cartoons and videos at the site, GameStop was first shot, this will not end well for boys. NSA disclosures next?
— Robert David Steele (@OSSRobertSteele) February 17, 2021
Article: SEC Data Show $359 Million of GameStop Shares Failed to Deliver
Article - MediaSEC Data Show $359 Million of GameStop Shares Failed to Deliver
Brandon Kochkodin, Bloomberg, 17 February 2017
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GameStop surged more than 1,700% before curbs were implemented
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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.
Article: GameStop Frenzy Prompts SEC to Weigh More Short Sale Transparency
Article - MediaGameStop 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.
Web: SEC Data Show $359 Million of GameStop Shares Failed to Deliver – Thank you Bloomberg for finally reporting the news
WebReddit, 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” 🤦🏻♂️
