Article: Jefferies Blocks Short Sells in GameStop, AMC, MicroVision

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Jefferies Blocks Short Sells in GameStop, AMC, MicroVision

Luke McGrath and Gillian Tan, 03 June 2021

Jefferies told clients Wednesday its prime brokerage arm will no longer allow the execution of short sells in GameStop Corp., AMC Entertainment Holdings Inc. and MicroVision Inc., according to a memo seen by Bloomberg News.

“Until further notice, Jefferies Prime Brokerage will no longer offer custody on naked options in GME, AMC and MVIS,” the memo noted. The firm will no longer allow the execution of short sells of those securities, the memo continued, noting that other stocks may be added to that list. Continue reading “Article: Jefferies Blocks Short Sells in GameStop, AMC, MicroVision”

Article: Why Famed Short-Seller Jim Chanos Is Betting Against Burger King And Dunkin’ But Praising Chipotle

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Why Famed Short-Seller Jim Chanos Is Betting Against Burger King And Dunkin’ But Praising Chipotle

Maggie McGrath, 26 April 2018

The tale of two restaurant ownership models — wholly-owned and franchised — is translating into similarly divergent market performances for certain restaurant stocks Thursday. And much of the movement has to do with the comments of one short-seller.

Shares of Dunkin’ Brands and Restaurant Brands International (QSR), which is Burger King’s parent company, are in negative territory after Jim Chanos, the investor who famously shorted Enron, told CNBC Thursday morning that he’s taken short positions in both names. His reason: he is not optimistic about the future of asset-light, franchise-focused businesses. “[E]verybody wants to sell the restaurants and not own them but basically clip the coupon of collecting royalties,” he said. “And we’ve had this dichotomy now of restaurant stock multiples going higher and higher and higher as restaurants themselves have struggled. I think at some point that has to come to an end.”
Continue reading “Article: Why Famed Short-Seller Jim Chanos Is Betting Against Burger King And Dunkin’ But Praising Chipotle”

Article: Goldman, Morgan Stanley And JP Morgan Named In Commodity Manipulation Investigation

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Goldman, Morgan Stanley And JP Morgan Named In Commodity Manipulation Investigation

Maggie McGrath

Forbes, 19 November 2014

A two-year investigation conducted by the Senate Permanent Subcommittee on Investigations has accused Goldman Sachs, Morgan Stanley and JP Morgan of manipulating commodity prices. In a nearly-400 page report released Wednesday evening, the subcommittee says that these banks have become “heavily involved with” the commodities markets and increasing risks to financial stability, industry and consumers.

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