(Bloomberg) — A man who fell to his death from a skyscraper in Manhattan’s Tribeca neighborhood on Friday has been identified as Bed Bath & Beyond Inc. Chief Financial Officer Gustavo Arnal. In a statement Sunday, the New York Police Department named the person as 52-year-old Arnal, resident of 56 Leonard Street — also known […]
Read More(Bloomberg) — A basket of so-called meme stocks that took Wall Street by storm at the start of 2021 slumped to a record low this week, erasing the last vestiges of the retail-investor driven rally that made them famous. The group of 37 retail trading favorites tracked by Bloomberg extended a four-day slide on Tuesday, […]
Read More(Bloomberg) — It’s ending as fast as it began for retail day traders, whose crowd-sourced daring was the pre-eminent story of pandemic equities. Nursing losses in 2022 that are worse than the rest of the market’s, amateur investors who jumped in when the lockdown began have now given back all of their once-prodigious gains, according […]
Read More(Bloomberg) — A proposed stock split by GameStop Corp. brought back echoes of peak-meme mania days to trading forums on Friday, with investors snatching up shares in the company and other retail favored-names. The video-game retailer jumped as much as 14% in New York before erasing gains to trade close lower Friday after it said […]
Read More(Bloomberg) — Citadel Securities LP was thrust into the spotlight in 2021, with day traders, lawmakers and regulators all scrutinizing the firm at the center of one of the U.S. stock market’s wildest periods. They’re about to learn that amid the uproar, the financial giant had its best year ever. Billionaire Ken Griffin’s stock-trading powerhouse […]
Read More(Bloomberg) — AMC Entertainment Holdings Inc. said it’s buying 22% of a gold and silver mining company, marking an unorthodox move for the world’s largest movie-theater chain and a past darling of meme-stock investors. The cinema giant is investing in Hycroft Mining Holding Corp. alongside Eric Sprott, a gold and silver investor, AMC said in […]
Read More(Bloomberg) — The Securities and Exchange Commission is set to consider new stock trading rules in what would be the Wall Street regulator’s most direct response yet to last year’s wild trading in GameStop Corp. and other meme stocks. SEC Chair Gary Gensler said Thursday that the agency is preparing to take up a range […]
Read MoreNovavax Inc. and Beyond Meat Inc. jumped alongside other growth-oriented stocks in Monday trading after an Evercore ISI strategist suggested some of the battered meme stocks could rebound in coming weeks. The biotechnology company — which just filed its Covid-19 vaccine for emergency use in the U.S., as expected — climbed 13% after trading at […]
Read More(Bloomberg) — Robinhood Markets Inc.’s free fall has stopped, at least for now. After losing more than two-third of its value since the company’s initial public offering, the stock erased early declines Friday, a day after reporting fourth-results that missed Wall Street estimates. The shares rose 52 cents to $12.13 at 12:54 p.m. in New […]
Read MoreIt has been one year since retail traders began their unprecedented move on GameStop stock GME sending the price soaring and short sellers scattering, creating both a Wall Street panic and the “meme stock” phenomenon. And the year that followed was indeed a wild one, giving birth to a new classification of equities, fostering even […]
Read MoreIt’s been roughly a year since GameStop (GME) began overtaking headlines and a ‘meme stock’ phenomenon was born. However speculative assets have been under pressure recently amid rising inflation and a more hawkish-toned Federal Reserve. “I do hope that investors will refocus on fundamental values,” Thomas Peterffy, founder of Interactive Brokers told Yahoo Finance Live. […]
Read More(Bloomberg) — Meme stocks, blank-check companies and high-flying biotech names that were all the rage at the start of 2021 are now running cold. The first two weeks of the year have brought a 17% tumble for a group of stocks that went public via merger with blank-check firms and a 10% correction for the […]
Read More(Bloomberg) — Ken Griffin has for years been one of the wealthiest people on the planet thanks to his hedge fund’s success. Now it’s his powerhouse market maker that’s driving the bulk of his fortune to new heights. The billionaire sold a $1.15 billion stake in Chicago-based Citadel Securities to Sequoia Capital and Paradigm, valuing […]
Read MoreLess than a week into the new year, a 27-year-old truck driver from Connecticut might have given Robinhood HOOD a whole new thing to be worried about in 2022. On January 6, an arbitrator for the Financial Industry Regulatory Authority ruled that the zero-commission trading platform was liable for $29,460.77 in compensatory damages to Jose […]
Read More(Bloomberg) — Calm has finally come to a stock market that for weeks had been swinging violently. Bulls who hung tough are ending the year on firm footing after a frenzied off-loading of risk by professional speculators. December’s big sellers were hedge funds, which, chastened by wrong-way bets on high-flying software firms, spent the month […]
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