How 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.”
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Explainer: 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?”
Wirecard’s Former Billionaire CEO Markus Braun Arrested Over Allegations Of Fraud
Jack Kelly, 23 July 2020
On Monday, I reported that Markus Braun, the billionaire CEO of online payments company Wirecard, faced serious allegations over the company’s rapid growth and questionable business practices. Specifically, regulators and investors were concerned over claims that the FinTech company purported to have $2 billion dollars in a couple of Philippine banks. Investigations conducted by an outside auditor revealed that the money wasn’t there and possibly never existed. Continue reading “Article: Wirecard’s Former Billionaire CEO Markus Braun Arrested Over Allegations Of Fraud”