GameStop soared as much as 20% on Thursday as more short-sellers closed positions and ran for the exit. The company’s Monday announcement that it would add activist members to its board kicked off a rally that’s left shareholders cheering and squeezed shorts out of their bearish bets. The scale to […]
SoftBank’s new trading arm, SB Northstar, posted $US3.7 billion in losses as bearish derivatives bets on tech stocks floundered, the Financial Times reported Wednesday. The arm was mostly kept secret until the FT revealed it was making multibillion-dollar bets on tech giants through the summer’s market rally. SoftBank CEO Masayoshi […]
Carson Block of Muddy Waters told Bloomberg that he thinks stocks will go down again after rallying from March lows, and that valuations don’t make sense. “In the medium term, I just can’t see equity values anywhere near where they are today,” Block said Monday. “The underlying economy is on […]
Elon Musk voiced his support for Twitter CEO Jack Dorsey, who is under attack from activist investor Elliott Management. Musk is CEO of two companies – Tesla and SpaceX – similar to Dorsey, whose role as dual CEO is one of the reasons activist investors are seeking to replace him. […]
Bed Bath & Beyond is slashing 7% of its corporate staff as the struggling company attempts to repair its business. Activist investors released a presentation in late April slamming Bed Bath & Beyond for everything from messy stores to CEO pay. Slide after slide of the presentation described different parts […]
Activist investor Edward Bramson has yet to lay out a vision for how he wants British lender Barclays to alter its strategy, despite taking a major stake and publicly agitating for change, according to the bank’s CEO, Jes Staley. Bramson, whose hedge fund Sherborne Investors owns a 5% stake in […]
Third Point Management, the hedge fund owned by billionaire Dan Loeb, released a new video that attacks Campbell Soup and urges the company to completely overhaul its board and management team. Third Point Management owns an 8% stake in Campbell. In the video, Third Point blames the leadership team for […]
In her first interview since leaving Yahoo, Marissa Mayer said selling the company’s stake in Alibaba was a mistake. Mayer blamed shortsighted activist investors for pressuring the company to do the deal. Yahoo sold half of its 40% stake in Alibaba for $US7.6 billion in 2012. Yahoo obtained the entire […]
