Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Ian Sherr | 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.
The Lesson Of GameStop: Investing Is Not A Game
Taylor Tepper, 03 February 2021
In a matter of days, GameStop has gone from being a dying retail chain to the latest obsession of media and markets. Along the way, the GameStop saga has morphed into a lesson in American populism, an allegory of Main Street taking a pound of flesh from Wall Street.
To recap: Video game retailer GameStop was struggling to survive even before the pandemic struck, and Covid-19 only worsened its ailing condition. Hedge funds on Wall Street smelled blood and took out massive bets that the company’s shares would drop, maybe even to zero—so-called short trades or short positions. Continue reading “Article: The Lesson Of GameStop: Investing Is Not A Game”
Yael Halon | 21.02.02
“My hat’s off to them…it’s brilliant what they did.”
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 “Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century”
GameStop, other Reddit-favored stocks plunge as trading frenzy fizzles
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% at $90. They are now worth less than a fifth of their high of $483 last week.
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”
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”
Continue reading “Video: GameStop – Game Over For Hedge Fund”
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.
Continue reading “How Redditors Beat Hedge Funds at Their Own Game(Stop)”
GameStop Short Selling Reduces By Over Half: Report
Shivdeep Dhaliwal, 02 February 2021
Short selling activity in the shares of GameStop Corp (NYSE: GME) is slowing down as traders move to cover their bets, according to analytics company S3 Partners, Reuters reported Monday.
What Happened: The video game retailer’s 27.13 million shares were shorted in the week, which is 35 million lower than the number of shares shorted in the preceding week, as per Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners. Continue reading “Article: GameStop Short Selling Reduces By Over Half: Report”
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”
Jack Kelly, 29 January 2021
It’s telling that regulators aren’t asking why high-end hedge funds were allowed to target vulnerable corporations, such as GameStop, in an alleged short-selling scheme to drive their victims into bankruptcy. As the stock price of their prey goes to nearly zero, the hedge fund honchos could earn multimillions—or billions of dollars–in profits off of the companies closing their doors and laying off thousands of employees into the worst job market in modern history.
Instead, according to the Wall Street Journal, the Securities and Exchange Commission (SEC) is looking into the young, goofy, fun-loving, scrappy and foul-mouthed novice investors on the r/wallstreetbets subreddit of Reddit. There is the feel of an institutional knee-jerk reaction to accept activities from established Wall Street professionals (no matter how odious it seems), while shining a harsh light on new—mostly naive—entrants into the financial community. Continue reading “Article: The Securities And Exchange Commission May Look Into Possible Market Manipulation Made By Reddit Day Traders Instead Of The Short-Selling Hedge Funds”
Steve Cohen’s enormous GameStop losses are his own fault
DENNIS YOUNG, 28 January 2021
For Mets fans hoping for a hard reset under new owner Steve Cohen, one of the richest men ever to buy an American sports team, this offseason has been depressingly familiar.
The team hasn’t splurged on any major free agents or extended any of its own young talent. They had to fire the GM for being outed as a serial sexual harasser just a month after he was hired. And, most alarmingly for the Mets’ competitive fortunes, Cohen has quickly lost a ton of money on an ill-advised investment. Point72, the $19 billion hedge fund owned and operated by Steve Cohen, is down 15% this year, according to the New York Times. Continue reading “Article: Steve Cohen’s enormous GameStop losses are his own fault”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
