Page 84 - Gabe Plotkin News Today

Image Image A $10 billion company, thanks to a gamma squeeze, delta hedging and Reddit.Credit...Nam Y. Huh/Associated Press Retail madness Why is Wall Street obsessed with GameStop, the video game chain that until recently was known for middling performance? The company’s stock has soared to scarcely believable levels — its market cap as of yesterday was $10 billion, and its shares briefly doubled in premarket trading today — thanks to an army of small traders spurred on by a Reddit messa...

Leon Black and Jeffrey EpsteinLucy Nicholson/Reuters, New York State Sex Offender Registry For five years, Jeffrey Epstein advised Leon Black, the billionaire CEO and cofounder of Apollo Global Management. On Monday, Black announced he plans to step down as CEO of Apollo in July. The announcement came following an independent review of Blacks relationship with Epstein by law firm Dechert. Advertisement And while the review found Black wasnt involved in any of Epsteins criminal behavior, it did...

Melvin Capital closes Gamestop short position amid Reddit feud (Getty Images) The hedge fund targeted by Reddit investors Melvin Capital reportedly closed out its short position in Gamestop on Tuesday.  The bricks-and-mortar retailer was targeted by an army of Reddit investors from the forum “Wall Street Bets” which boasts more than 2m subscribers.  Manager of the fund Gabe Plotkin told CNBC it had closed out its short position after taking a huge loss. Last week short-se...

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Word Count: 220 The stock rose as high as $260, up 76% from the last close of $147.98. That followed Tuesday’s 93% surge, which meant GameStop has risen more than eightfold this month in a dizzying rally fueled by Reddit-charged day traders. Play Video Following a frenzied session on Tuesday, the stock’s gains reached new extremes outside regular hours after Tesla Inc. chief Musk tweeted a link to a Reddit thread about the company. Famed fund manager Michael Burry warned that the manic...

Ryan Bushells Top Picks: March 23, 2021 U.S. stocks trade mixed as oil tumbles, bonds advance Stock markets fiercest bulls go missing despite stimulus checks Feds Kaplan estimates first U.S. rate increase will be in 2022 Bitcoins carbon footprint conveniently downplayed during rally Stephen Takacsys Top Picks: March 22, 2021 Larry Berman: Seasonality and stimulus supportive for Q2 Powell playing risky game with markets on inflation: CIBCs Tal BlackRock cuts fees on US$7.6B style ETFs to near ze...

Ryan Bushells Top Picks: March 23, 2021 U.S. stocks decline as oil tumbles, bonds advance Robinhood is said to have filed confidentially for U.S. IPO Stock markets fiercest bulls go missing despite stimulus checks Feds Kaplan estimates first U.S. rate increase will be in 2022 Bitcoins carbon footprint conveniently downplayed during rally Stephen Takacsys Top Picks: March 22, 2021 Larry Berman: Seasonality and stimulus supportive for Q2 Powell playing risky game with markets on inflation: CIBCs ...

In GameStop saga unfolding on Wall Street, two Goliaths fall By MICHELLE CHAPMAN and STAN CHOE The Associated Press,Updated January 27, 2021, 10:13 a.m. Email to a Friend In the David and Goliath saga surrounding the struggling retail chain GameStop, Goliath has fallen. Two Goliaths, actually. A pair of professional investment firms that placed big bets that money-losing video game retailer GameStops stock will crash have largely abandoned their positions. The victors: an army of smaller invest...

The CEO of Tesla and a billionaire candidate for the California governorship have joined the wild hype around GameStop, a money-losing video game retailer.

The skyward march in GameStop Corp. accelerated Tuesday, its stock nearly doubling during exchange hours and then surging another 50% after being name-checke...