Tag: Reddit

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Article: Short-seller Marc Cohodes strikes back on Reddit saga as GameStop shares tumble again

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Short-seller Marc Cohodes strikes back on Reddit saga as GameStop shares tumble again

Jim Armitage, 04 February 2021

A highly regarded short-seller has written a heartfelt defence of his breed to US senators investigating hedge funds’ role in the Reddit GameStop saga just before shares in the company fell a further 35% Marc Cohodes’ lawyer has written to Senators on the senate committees on Banking and Home Affairs about GameStop to declare: “The share price was not manipulated down; it was manipulated up.” Continue reading “Article: Short-seller Marc Cohodes strikes back on Reddit saga as GameStop shares tumble again”

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Article: GameStop Isn’t a Popular Uprising

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Robert J. Shapiro | 21.02.03

The investors’ struggle over the video game retailer GameStop has been cast as a David versus Goliath story. Allegedly, this is the tale of scrappy, small online day traders buying shares of a beleaguered company to thwart a hedge fund scheme to take it down. Like GameStop’s stock, this narrative is mostly speculation because the facts about the buyers and sellers and their trades are hidden in the records of Robinhood, the new online trading platform, as well as Charles Schwab and other traditional broker-dealers. Only the SEC could demand to inspect those records.

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Article: GameStop shares halve

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GameStop shares halve

Shah Husain Imam, 03 February 2021

GameStop Corp shares more than halved in value on Tuesday and silver prices retreated as the Reddit-driven trading frenzy that roiled stock and commodity markets appeared to fizzle, at least for now.

The videogame retailer’s shares, whose wild gyrations have made or lost billions of dollars for hedge funds and other investors in recent weeks, closed down 60 per cent at $90. They are now worth less than a fifth of their high of $483 last week, reports Reuters. Continue reading “Article: GameStop shares halve”

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Article: GameStop stock dropped, but Reddit still hopes to send it to the moon. Here’s what’s next

Article - Media

| 21.02.03

What makes this roller coaster unusual is why the Reddit community is buying up GameStop shares. While some of them say they believe in GameStop’s future, others are attracted to the idea that the higher GameStop’s shares go, the more Wall Street’s bad bets will cost institutional investors money.

Continue reading “Article: GameStop stock dropped, but Reddit still hopes to send it to the moon. Here’s what’s next”

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Article: Senator Elizabeth Warren Tells The Securities And Exchange Commission To ‘Get Off Their Duffs And Do Their Jobs’ And Stop The ‘Rigged Game’ Of Market Manipulation

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Jack Kelly | 21.02.02

In a blistering interview with CNN, Senator Elizabeth Warren was incensed over the trading activities last week, saying the market “is a rigged game.” Warren boldly called out the Securities and Exchange Commission (SEC), the premiere Wall Street regulator, admonishing the agency “to grow a backbone” and “get off their duffs and do their jobs.”

Warren said, “We need more regulation about market manipulation.” She also decried the practices of “pump and dumps” and stock buybacks that enrich the CEOs and executives. The senator added, “The SEC needs a broader look at how hedge funds and corporations manipulate the market.”

Continue reading “Article: Senator Elizabeth Warren Tells The Securities And Exchange Commission To ‘Get Off Their Duffs And Do Their Jobs’ And Stop The ‘Rigged Game’ Of Market Manipulation”

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Article: ‘Wolf of Wall Street’ Jordan Belfort Lauds ‘Brilliant’ Stock Revolt: ‘This is a Paradigm Shift’

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Yael Halon | 21.02.02

“My hat’s off to them…it’s brilliant what they did.” — Jordan Belfort

The share price of video game retailer GameStop surged dramatically last week after a group of Reddit users teamed up to buy up the struggling retailer’s call options – hurting market short sellers.

“I believe this is a paradigm shift right now,” Belfort, who spent 22 months in prison after pleading guilty to charges of securities fraud and money laundering, told host Tucker Carlson.

Continue reading “Article: ‘Wolf of Wall Street’ Jordan Belfort Lauds ‘Brilliant’ Stock Revolt: ‘This is a Paradigm Shift’”

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Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century

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Matt Egan | 21.02.02
A mob of traders on Reddit’s WallStreetBets page have sent GameStop (GME), AMC (AMC) and other stocks skyrocketing in recent days. GameStop lost a quarter of its value Monday but it’s still up nearly 1,200% on the year. WallStreetBets successfully triggered an epic short squeeze, where investors that bet against GameStop have been forced to unwind their bets and buy the stock back. That in turn has driven GameStop even higher, creating even more losses for short-sellers.

Continue reading “Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century”

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GameStop Founder Is “A Spectator” In Short Stock Controversy

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Matt Egan | 21.02.02

In a conversation with CNBC, co-founder of Babbage’s Gary Kusin revealed that he has mainly been an onlooker during the whole GameStop stock controversy. He has gotten the majority of his information about what is happening through his son, Ben, who is an experienced redditor. One of the subreddits Ben frequented was WallStreetBets, which allowed him and his father to watch the whole situation unfold from the very beginning. Continue reading “GameStop Founder Is “A Spectator” In Short Stock Controversy”

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Top 11 Reasons The Short Silver Squeeze Is Very Possible

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Alert Reader notes:

Shorting corporations and even governments has long been a means by which “loan” money sharks destroy and control creative money industry and governments.  Although a crime, this activity is never prevented – but rather regulated to protect and create advantage for the perpetrators.  So why not use this system of financial mass destruction against the destroyers? And, wouldn’t it be fitting that the common man’s money, silver, would be just the silver bullet needed to punish and return the market system to the people.  JP Morgan may have captured the silver paper market, but the bulls control the physical market – if only they will.

Maybe the century old suppression and manipulation of silver prices has finally found its savior — a silver short squeeze, now in progress.

Continue reading “Top 11 Reasons The Short Silver Squeeze Is Very Possible”

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Another Thought on Silver by Jim Willie

Academic, Tip
Jim Willie | 21.02.01
Silver is up almost $3 from Singapore and soon Tokyo. I regard this entire Reddit Robin Hood movement as the Attack by the Lilliputians. Time to stampede over the JPMorgue zombies and take silver to $35/oz. Watch mining stocks to confirm the move of course, the Boyz can put it down with a paper barrage, but the Lilliputians might be in the tens of thousands and they smell blood. The GameStop was a trial run. 

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How Redditors Beat Hedge Funds at Their Own Game(Stop)

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21.01.27 | By Eric Levitz

But the value of a company can’t be reduced to its expected future earnings. One must also consider a wide range of other factors. Among them: How much nostalgia does the firm inspire in users of the Reddit forum r/wallstreetbets? And would a rally in GameStop shares be funny? Which is to say, has the firm crossed the “so bad it’s good” threshold, as inadvertent comedic masterpieces like The Room or Troll 2 had done before it?

America’s top hedge funds failed to ask these questions. Fortunately, the collective wisdom of rational market participants ensured that they were eventually incorporated into GME’s stock price. And, as of 3 p.m. Wednesday afternoon, a share in the GameStop corporation attained its true, objective value of $321.14.

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Article: Warren Seeks Answers From Robinhood Over Trading Limits

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TWarren Seeks Answers From Robinhood Over Trading Limits

Jon Hill, 02 February 2021

Sen. Elizabeth Warren, D-Mass., is calling on Robinhood to more thoroughly explain its decision last week to restrict trading in shares of GameStop and other companies amid a frenzy of retail investor activity, saying the move has raised questions about potential conflicts of interest facing the trading platform.

In a Tuesday letter to Robinhood CEO Vladimir Tenev, Warren described the trading restrictions as an “abrupt” rules change that not only risked hurting Robinhood’s retail investor customers but has also led to concerns about how the platform’s ties to hedge funds and other bigger Wall Street players may have influenced its decision-making. Continue reading “Article: Warren Seeks Answers From Robinhood Over Trading Limits”

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Article: Wall Street Mania Poised to Spur SEC Focus on Apps, Shorts, T+2

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Wall Street Mania Poised to Spur SEC Focus on Apps, Shorts, T+2

By ,, , and

Bloomberg, 2 February 2021

ROBERT STEELE: The article by Bloomberg is largely bullshit. Buried in one line is “failure to settle.” The reporting is unprofessional and irresponsible.

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