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+22 +2
Melvin Capital, hedge fund that bet against GameStop, lost more than 50% in January
Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop and other stocks the fund was betting against, a source familiar with the matter told CNBC.
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+12 +2
All Over the World, Small Investors Jump Into the GameStop Frenzy - CoinDesk
The world is watching U.S. markets with great interest, and more than a little FOMO, as Reddit investors continue to test their might against Wall Street. It all started when retail investors on the Reddit community wallstreetbets began pumping the price of U.S. video game retailer GameStop’s (GME) stock to counter Wall Street hedge funds...
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+4 +1
Billionaires are blaming the GameStop surge on Covid stimulus checks
Billionaire “Bond King” Jeffrey Gundlach is the latest to blame government stimulus cheques for the massive surges in stocks like GameStop that’ve caused Wall Street firms huge losses. “In this case thanks to primarily government policy there’s wherewithal among investors, if you want to call them that, with government money being sprayed all over the place, with checks to people, that they have the wherewithal to put it together into a real capital base,” told Fox Business on Friday.
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+9 +1
What if a clearinghouse fails?
The new clearing requirements were one of the more widely applauded features of the 2010 Dodd-Frank Act. With good reason. Prior to the Great Recession, most derivatives transactions were unregulated and undisclosed. Under the Dodd-Frank Act, clearinghouses now guaranty many swaps by serving as a buyer to every seller and a seller to every buyer. If one of these buyers or sellers fails, the clearinghouse can step into the gap, thus limiting the risk that the failure will interfere with the financial markets.
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+16 +1
Understanding /r/wallstreetbets
Pluralistic: Daily links from Cory Doctorow
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+22 +1
Reddit day traders are taking on hedge fund giants and winning, and it's a sign of a new era for markets
'They are proving to be quite capable of mounting some successful 'value capture' against Wall Street institutional investors,' Fundstrat's Tom Lee said.
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+16 +2
Robinhood Facing Class Action Lawsuit Over Suspended GameStop Trading
Robinhood is an online brokerage that was founded for the purpose of democratizing investing and making it more accessible for individuals to buy stocks. Its stated goal was likely one reason why traders were so surprised when the broker shut down their ability to buy GameStop shares.
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+26 +6
Robinhood is reportedly borrowing at least 'several hundred million dollars' from banks amid GameStop trading frenzy
Robinhood is drawing down lines of credit to the tune of "at least several hundred million dollars," Bloomberg reported Thursday. The quick decision to seek additional funds from its lenders, which include JPMorgan Chase and Goldman Sachs, suggest that this week's trading frenzy has put a strain on the company, according to Bloomberg's Matthew Monks and Michelle Davis.
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+16 +3
Robinhood CEO says limited trade to protect firm and customers
Online broker Robinhood restricted trade in about 13 highly volatile stocks such as GameStop and AMC Entertainment to protect the company and its customers, Chief Executive Vladimir Tenev said on Thursday.
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+19 +3
Reddit co-founder calls GameStop frenzy a 'bottom-up revolution,' shifting power to small investors
Reddit’s Alexis Ohanian said Thursday that the GameStop stock-trading frenzy, originating in large part on the online platform he helped create, is a turning point in the U.S. investing landscape.“I do think this is a seminal moment. I don’t think we go back to a world before this because these communities, they’re a byproduct of the connected internet,” Ohanian said in a “Squawk Box” interview. “Whether it’s one platform or another, this is the new normal.”
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+19 +3
The GameStop Bubble Is a Lesson in the Absurdity and Uselessness of the Stock Market
The online pranksters behind the great GameStop bubble of 2021 are probably going to lose a lot of money. But they’ve done the world a service by reminding us of the utter uselessness of the stock market, an institution that serves no purpose besides making a small number of undeserving people rich.
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+17 +4
Stocks Could Plunge Even if the Economy Booms
We keep being reminded that the stock market isn’t the economy. But then, is it possible for the market to go into a long bear run even if the economy booms? Yes, although there is little record of it ever happening.
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+1 +1
14 Best Income Producing Assets to Grow Your Wealth
A great way to build wealth is to acquire income producing assets that put your money to work and create multiple streams of passive income. In fact, it's probably one of the best ways to
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+21 +4
Twitter loses $5 billion in market value after Trump is permanently barred from the platform
Twitter stock fell as much as 12% on Monday after the social-media company permanently suspended President Donald Trump's account on Friday evening. The share-price decline wiped $5 billion from Twitter's market capitalization. Twitter's bosses suspended Trump's account - which had about 88 million followers - after the world leader's fanning of conspiracy theories about voter fraud and election theft spurred thousands of his supporters to lay siege to the Capitol last week.
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+16 +1
Trump said the stock market would crash if Biden won. The Dow is having its best month since 1987.
President Donald Trump repeatedly warned Americans that if they failed to reelect him, the stock market would implode. In reality, the opposite happened. Between August and October alone, Trump sent six tweets saying markets would "crash" if Joe Biden were elected, using a word presidents typically avoid.
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+11 +2
Financial markets rise ahead of US election
Financial markets have risen for a second day in a row ahead of the US presidential election. Uncertainty about the outcome of the race has weighed on share prices in recent weeks, adding to wider economic concerns. But investors are hoping a clear winner will push Washington to refocus attention on passing economic aid to address the pandemic.
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+1 +1
Getting Started With Green Investing
November 3, 2020 Investing can be one of the most powerful ways to reach longer-term financial goals. Compound interest can eventually turn even small
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+14 +2
Dow futures rise more than 200 points as traders weigh rising coronavirus cases, U.S. stimulus talks
U.S. stocks slipped on Monday as investors hoped for a stimulus deal from Washington, although a rising number of Covid-19 cases dampened sentiment. The Dow Jones Industrial Average traded 41 points lower, or 0.1%. Earlier in the day, the 30-stock average was up more than 100 points. The S&P 500 dipped 0.2% and the Nasdaq Composite pulled back 0.1%.
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+20 +3
Twenty years after the dotcom crash, is tech’s bubble about to burst again?
Everybody loves a party ... but, inevitably, after a big party there’s a hangover,” billionaire investor Stanley Druckenmiller said last week as stock markets seesawed amid fears that a new tech bubble was about to burst. “Right now, we’re in an absolute raging mania,” he said.
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+1 +1
13 Easy Ways I Get Free Stocks [Updated]
I recently stumbled across a great way to start investing with free stocks without having to spend a great deal of my own money. I have used the traditional index fund retirement strategy but recently
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