Markets

Billionaire investor Leon Cooperman blasts the Reddit-trader revolution as ‘baloney’ — and says Warren, Sanders, and AOC shouldn’t be deciding the market rules

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 […]
Billionaire investor Leon Cooperman blasts the Reddit-trader revolution as ‘baloney’ — and says Warren, Sanders, and AOC shouldn’t be deciding the market rules
Tech

Robinhood protesters threw dog faeces and vandalised statue at the company’s headquarters over GameStop fiasco

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 […]
Robinhood protesters threw dog faeces and vandalised statue at the company’s headquarters over GameStop fiasco
Markets

The Reddit-fuelled GameStop rally is reportedly under federal investigation for possible market manipulation — and Robinhood has been subpoenaed

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, […]
The Reddit-fuelled GameStop rally is reportedly under federal investigation for possible market manipulation — and Robinhood has been subpoenaed
Markets

Cannabis stocks tumble from multi-year highs as Reddit-fuelled rally loses steam

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 […]
Cannabis stocks tumble from multi-year highs as Reddit-fuelled rally loses steam
Markets

GameStop stock-trading star Keith Gill — also known as Roaring Kitty — is reportedly under investigation as regulators look at his previous financial-advisement job

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 […]
GameStop stock-trading star Keith Gill — also known as Roaring Kitty — is reportedly under investigation as regulators look at his previous financial-advisement job
Markets

Mohamed El-Erian says the Reddit war against Wall Street players has all the elements of the Arab Spring — and he understands where the anger comes from

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 […]
Mohamed El-Erian says the Reddit war against Wall Street players has all the elements of the Arab Spring — and he understands where the anger comes from
Markets

Wall Street Bets founder says the recent Reddit-fuelled Wall Street chaos is like watching a train wreck happen in real life — and the group is no longer what it used to be

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 […]
Wall Street Bets founder says the recent Reddit-fuelled Wall Street chaos is like watching a train wreck happen in real life — and the group is no longer what it used to be
Markets

‘The trade of a lifetime’: Silver Lake and Mudrick have reaped huge gains from their AMC investments as Reddit traders send the stock soaring

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 trade of a lifetime’: Silver Lake and Mudrick have reaped huge gains from their AMC investments as Reddit traders send the stock soaring
Markets

Billionaire investor Chamath Palihapitiya follows Reddit investors into GameStop with purchase of bullish options that start paying out if the stock soars another 28%

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 […]
Billionaire investor Chamath Palihapitiya follows Reddit investors into GameStop with purchase of bullish options that start paying out if the stock soars another 28%
Markets

GameStop skyrockets 55% as Reddit-fuelled rally enters 3rd week

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 […]
GameStop skyrockets 55% as Reddit-fuelled rally enters 3rd week