"I think it becomes really interesting when companies then take advantage of what are otherwise false share prices and issue stock," Man Group CEO Luke Ellis said.
SEC filings revealed Clean Energy Fuels' largest shareholder, TotalEnergies, cut its stake to 53.4 million shares from 64 million shares this week.
Social media chatter about Clean Energy Fuels on Reddit's r/wallstreetbets saw a 582% increase on Thursday, according to data from QuiverQuant.
The gift of AMC CEO to his sons has grown five-fold thanks to a monster rally driven in part by Reddit traders this week.
Data from MarketBeat show that 39% of Workhorse's shares are shorted, compared to 21% for Reddit darling AMC
Mudrick Capital dumped millions of AMC shares the same day the stock sale was disclosed, though the retail-trader favorite continued its rally.
AMC issued 8.5 million shares to Mudrick Capital to raise the sum. Mudrick immediately sold off all of the shares after deeming the stock overvalued.
Loop Capital Market's Alan Gould reiterated his $1 price target and said AMC "does not reflect fundamental value" in an interview with CNBC on Monday.
GameStop stock has witnessed a resurgence of late, but short interest remains elevated at around 20%, according to data from S3 Partners.
27% of outstanding Beyond Meat shares are currently sold short, according to data from S3 Partners, making the company a potential Reddit target.
"The first thing you don't do is you don't short these stocks," Joe Terranova, chief market strategist at Virtus Investment Partners told CNBC Thursday.
When an investment gains profit, Redditors collect their money, or as they call it, their "tendies."
The GameStop craze "has heralded a new generation of enthusiastic and engaged investors," BMO said in its survey results.
Retail investors who bought Hertz last summer when even the company itself said its shares were "worthless" are now proving correct.
The trading app's payment for order flow generated $331 million in revenue in the first quarter, reported the Wall Street Journal.
A survey found that among the investors who use Reddit to drive financial decisions, 80% of them started on the site after the GameStop short squeeze.
The Reddit forum walked back on its decision to allow crypto discussions after a Bloomberg article didn't go down well with the group.
Discussions on bitcoin, ether, and dogecoin will be allowed only within a daily crypto discussion thread, a moderator post said.
"In short, Wall Street Bets is doing openly what Wall Street has been doing in secret for decades," Žižek wrote in his essay Corruption for Everybody.
The hedge fund lost 53% in January, gained 22% in February, and then slid another 7% in March.
The average buy recommendations posted to the forum delivered two-day returns of 1.1%, with a subsequent 6% return over the next quarter, the study found.
"The market price of our common stock has been extremely volatile and may continue to be volatile due to numerous circumstances beyond our control," GameStop said.
A bar manager ssaid many youngsters have become more open to investing after Japan's economy saw 30 years of next to no growth.
Retail traders on Reddit's Wall Street Bets questioned Monday who the real source of systemic risk was after Archegos' $20 billion leveraged blowup.
Reddit day traders' crusade sent Gamestop's stock on a wild ride last quarter, but the company refused to take questions on the call.
The notorious subreddit had claimed they were not the ones behind silver's rally, but Ivan Bayoukhi says the evidence suggests otherwise.
Short interest in the S&P 500 fell to 2.28% at the end of February, down 112 basis points from 3.4% at the end of 2020.
GameStop fell as much as 20% on Tuesday before mounting a recovery, but that hasn't stopped "diamond hands" Reddit traders from holding the stock.
GameStop short interest fell to just 18% of its float on Friday, an new low for 2021, as shares in the video game retailer continue to gain ground.
The company has taken several actions to build an e-commerce focus, most recently appointing Chewy founder Ryan Cohen to head a transition committee.
Reddit traders sparred Wednesday over which short-squeeze target should take priority on the message board following Rocket Companies' huge rally a day earlier.
Barstool Sports founder Dave Portnoy endorsed the fund on Tuesday, praising it as an effective tool for tracking online traders' favorite stocks.
"There is a new ETF launching that I'm a part of, that I'm putting my face behind, my reputation behind," Portnoy said in the video.
The study revealed 28% of people think the Wall Street Bets saga was a positive event, while 40% believe stocks were restricted to help hedge funds.
The meme stocks have fluctuated recently as bullish investors lock horns with those who are concerned the trade will again end in rampant selling.
A group of Reddit traders is attempting to "defend" CCIV stock from "market manipulators", forming a new subreddit dedicated to the cause.
SkyBridge's Troy Gayeski told Yahoo Finance that institutional investors are avoiding crowded shorts and doing a "triple-check" on short exposure.
GameStop soared 104% in the final 30 minutes of trading on Wednesday, and the buying frenzy showed few signs of slowing on Thursday.
A user posting as "KitrosReddit" garnered over 25,000 upvotes for their post on a potential "mother of all gamma squeezes" on GameStop stock.
The day traders who lifted the so-called meme stocks in January returned to the market Wednesday afternoon and fueled a 100% rally in GameStop shares.
Gill's current stake in GameStop is worth about $5.5 million between his stock and call options as of Friday.
Billionaire Leon Cooperman said the idea of Reddit traders targeting the wealthy is “all baloney.” The investor said market ethics have been weakening for a long time and the rules need to be followed. “The last thing we need is Elizabeth Warren or Bernie Sanders or AOC getting involved in […]
"The last thing we need is Elizabeth Warren or Bernie Sanders or AOC getting involved in setting policy," Cooperman said.
Gill, who goes by u/DeepF---ingValue on Reddit and Roaring Kitty on YouTube, is being compared to Michael Burry of "The Big Short" by his peers.
Keith Gill gained a following as he documented his "YOLO" trade in GameStop on Reddit's Wall Street Bets forum for more than a year.
Discussing the chance to trade shares isn't abuse, but organizing strategies to move prices "could constitute market manipulation," the agency said.
Bank of America data shows that the last two spikes in trading app downloads coincided with the receipt of stimulus checks.
While much of the Reddit-trader phenomenon died out earlier this month, AMC's climb suggests the retail investors still hold some sway in the market.
Stacey Cunningham said NYSE officials have not been called to testify at the hearing, even though so-called "meme-stocks" trade on the exchange.
Reddit day traders tried to beat Wall Street at its own game to prove that the system is rigged. Instead, brokerages locked them out and their holdings tanked, while some hedge funds still won big. Experts said Wall Street’s reaction showed just how stacked the deck is against small investors. […]
Some protesters vandalised Robinhood’s headquarters in Menlo Park, California, according to police. Robinhood security said people threw dog faeces and harassed its guards, Menlo Park PD told Insider. The protests, earlier reported by CNBC, targeted Robinhood’s response to the recent trading frenzy. Visit the Business section of Insider for more […]
Federal regulators and prosecutors are probing the GameStop trading phenomenon, The Wall Street Journal reported. Authorities are investigating whether the army of Reddit traders partook in market manipulation. Robinhood and other brokers involved in the trend have been subpoenaed, according to the report. Sign up here for our daily newsletter, […]
Cannabis stocks plunged on Thursday as optimism around federal decriminalization and Reddit-trader bullishness faded to profit-taking. Tilray, Aphria, Aurora Cannabis, Cronos, and Canopy Growth all slid amid the broad sell-off. Members of the Wall Street Bets Reddit page had been cheering the stocks higher as they did with GameStop in […]
Cindicator Capital is currently looking for a sentiment trader to join their New York-based company, Bloomberg first reported. A crucial requirement: The applicant must be a high-ranking and active member of the notorious Wall Street Bets subreddit. Extra points go to those with a “refined taste for memes and a […]
VanEck is betting on the long-term value of social media chatter about stocks, the Financial Times reports. The Buzz NextGen AI US Sentiment Leaders Index will serve as the underlying index. Space flight developer Virgin Galactic could benefit from the ETF’s launch. Visit the Business section of Insider for more […]
Robinhood on Friday withdrew trading limits on two of the most popular stocks among Reddit traders. On Tuesday, the trading app had relaxed buying and selling restrictions on GameStop and AMC. Earlier this week, Robinhood secured $US3.4 billion in capital, its largest fundraising since launching in 2013. Sign up here […]
Keith Gill, the trader known on Reddit for reaping hefty gains from GameStop’s recent stock spike, is under investigation, The New York Times reported. Gill rose to internet fame as pseudonyms Roaring Kitty and u/DeepFuckingValue when GameStop skyrocketed. Regulators are probing whether his investment broke rules associated with his job […]
A horde of casual traders congregating in online forums forced the hands of hedge funds, shocked Wall Street, and sparked a national conversation around the power of the retail investor. Shares of GameStop, AMC, and other highly shorted companies surged through January and remain at elevated levels as day traders […]
The SEC is scanning social media posts for signs of potential fraud in volatile trading, Bloomberg said. The regulator will hunt for misinformation intended to directly manipulate the market. Users of the Wall Street bets forum mocked the move by hosting a discussion to greet SEC “interns.” Sign up here […]
Mohamed El-Erian said the Reddit-trader war on Wall Street has all the elements of the Arab Spring. “They coordinate leaderless, no leader at all. It works extremely well,” he said in an ABC News interview. Inequality of wealth, income, and opportunity were the main reasons behind retail investor fury, he […]
Treasury Secretary Janet Yellen will meet with SEC, Federal Reserve, and CFTC officials regarding the Reddit-trader craze. The meeting will happen this week and could take place as early as Thursday, Reuters reported. Regulators haven’t yet said they will take action in the matter but indicated they’re examining the phenomenon. […]
Robinhood is looking to raise $US1 billion of debt as it struggles to keep up with orders for heavily shorted stocks,Reuters reported Tuesday. Discussions with banks include possibly expanding existing credit lines or arranging new ones. The financing is separate from the $US3.4 billion infusion the online brokerage raised from […]
Regional Fed president Neel Kashkari says the Reddit trading frenzy doesn’t merit a policy response. He said if two groups of speculators wish to bid on a single stock over speculation, “God bless them.” The dovish central banker said he is “not at all” thinking about changing his stance on […]
BioCryst Pharmaceuticals jumped to a 5-year high on Monday, fuelled by spiking interest from Reddit investors. The stock closed 39% higher after surging as much as 41% in intraday trading. The move followed a post on the r/WallStreetBets subreddit that called the company “the most undervalued stock in the market.” […]
Robinhood was asked last week for a $US3 billion deposit to cover trading risks on highly-volatile stocks. That is why the brokerage imposed trading restrictions last week, CEO Vlad Tenev told Elon Musk. After Robinhood limited retail trading, the clearing agency cut down that figure to $US700 million. Sign up […]
US markets currently seeing biggest ‘short squeeze’ in 25 years as hedge funds feel the pain. Day traders have driven up GameStop and others, costing short-sellers billions. Hedge funds have withdrawn from the market at the fastest rate since 2009, Goldman Sachs said. Sign up here for our daily newsletter, […]
Global stocks jumped on Monday as the retail investor army turned a new darling asset: silver. The world’s largest silver-backed ETF posted a record $US1 billion in inflows as of Friday, the FT reported. Silver surfers sent London’s benchmark index and UK mining stocks higher on the new short-squeeze. Sign […]
Hello everyone! Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Please subscribe here to get this newsletter in your inbox every week. Hello and welcome to Insider Investing. I’m Joe Ciolli, and I’m here to guide you through what’s been happening in markets, as well […]
Jordan Belfort thinks it’s “gratifying” to see hedge funds losing billions of dollars. But ‘The Wolf of Wall Street’ told Sky News that he believes GameStop mania will be “short-lived.” Belfort urged small investors to tread carefully and only invest what they can afford to lose. Visit Business Insider’s homepage […]
Reddit user u/DeepFuckingValue is a leading figure in Wall Street Bets’ clash with short-sellers. The value investor, who loves cat memes and reaction GIFs, claimed to have turned a $US54,000 bet on GameStop into a $US48 million fortune. Ten of his Wall Street Bets peers shared their views of him […]
Silver Lake sold its shares in AMC Entertainment for a $US113 million profit Thursday, the firm disclosed. The private-equity firm converted its debt into equity in AMC after Wednesday’s share-price jump. Reddit day traders sent AMC, GameStop, and other stocks soaring this week in a short-squeeze. Visit Business Insider’s homepage […]
Robinhood users are furious after it blocked them from trading GameStop and other red-hot stocks. In more than 120,000 tweets in just two days, users called for a boycott of the app. This map, compiled by cryptocurrency news site Bitreporter, reveals where they are. Visit Business Insider’s homepage for more […]
Renowned emerging-markets investor Mark Mobius isn’t in favour of regulatory action against day traders. The regulator should only ensure that trading is done efficiently and fairly, he told Bloomberg. Mobius Capital Partners has made no changes to its portfolio based on retail flows. Sign up here for our daily newsletter, […]
WallStreetBets’ founder said the forum’s stock-market frenzy was like watching a train wreck happen. Jaime Rogozinski created the subreddit in 2012 while working as an IT consultant in Washington, DC. Now living in Mexico, he told WSJ the group is “no longer what it used to be.” Sign up here […]
Silver has become a new target for Reddit day traders after multiple posts on the infamous WallStreetBets. One post on the now-famous subreddit called the silver market “one of the most manipulated on Earth.” The iShares Silver Trust ETF was up as much as 7.2% on Thursday. Sign up here […]
Silver Lake Group made “the trade of a lifetime” on AMC Entertainment, according to one hedge fund manager. Another firm, Mudrick Capital, made a similarly successful wager earlier this month. The two firms were able to convert distressed debt into equity in AMC after Wednesday’s share-price jump. “The market did […]
The 4 million-strong WallStreetBets forum on Reddit has officially disrupted Wall Street. They did it by piling into heavily shorted stocks, sparking short-squeezes at the expense of Wall Street hedge funds and large institutional investors. “They are proving to be quite capable of mounting some successful ‘value capture’ against Wall […]
Robinhood removed GameStop, AMC, BlackBerry, and Nokia from its trading platform before the market opened on Thursday. The brokerage told clients they can still close out positions in the volatile stocks but cannot buy more shares. The move comes after traders organising on Reddit forums furiously bid up the shares […]
The WallStreetBets forum on Reddit â€” now 3 million members strong â€” is flexing its muscle against hedge funds. The forum has sparked an epic short squeeze in shares of GameStop, which is now spilling over into other highly shorted stocks. Detailed below are the 10 highly shorted stocks that […]
Nasdaq CEO Adena Friedman told CNBC the exchange tracks social media chatter. She said the Nasdaq will halt trading if they link chatter to unusual activity in a particular stock. Friedman said it’s unclear whether recent Reddit activity would be considered illegal by the SEC. Sign up here our daily […]
Retail investors on the WallStreetBets online forum continue to boost GameStop shares, defying hedge funds and conventional investing norms in the process. Members of the group have formed a snowballing momentum trade as posts go viral and pull in new, curious Reddit users. The unconventional stock rally â€” which largely […]
Shares of headphones maker Koss exploded 131% on Monday, hitting $US13.87 at intraday highs. A tweet from @realwillmeade highlighted high short interest and a low share price for Koss. The stock has rallied for two days. Watch Koss trade live here . Shares of headphones maker Koss exploded 131% on […]
Billionaire investor Chamath Palihapitiya joined Reddit investors and piled into GameStop with a purchase of bullish call options on Tuesday. Palihapitiya tweeted on Tuesday that he purchased $US115 call options that expire on February 19. “Let’s gooooooo!!!!!!!!” Palihapitiya tweeted. Sign up here for our daily newsletter, 10 Things Before the […]
GameStop soared as much as 55% on Monday as retail traders continued to defy short-sellers and boost shares higher. Day-traders and Reddit users have pushed GameStop’s extraordinary rally into its third week, cheering on its latest gains and urging each other to keep buying. Short-selling firm Citron Research warned shares […]