Page 86 - Gabe Plotkin News Today

GameStop Mania Reveals Power Shift on Wall Street---and the Pros Are Reeling © Gabriela Bhaskar/Bloomberg News The power dynamics are shifting on Wall Street. Individual investors are winning big—at least for now—and relishing it. An eye-popping rally in shares of companies that were once left for dead including GameStop Corp., AMC Entertainment Holdings Inc. and BlackBerry Ltd. has upended the natural order between hedge-fund investors and those trying their hand at trading from their so...

In duel with small investors over GameStop, big funds blink GameStop shares rose as high as $380 Wednesday morning, after sitting below $18 a few weeks ago. (Source: CNN) By Associated Press | January 27, 2021 at 3:11 PM EST - Updated January 27 at 8:17 PM (AP) - Across most of America, GameStop is just a place to buy a video game. On Wall Street, though, it’s become a battleground where swarms of smaller investors see themselves making an epic stand against the 1%. The funds servi...

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 investors who have been rallying on Reddit and elsewhere online to support GameStops stock and beat back the professionals. One of the two major investors that surrendered, Citron Research, acknowledged Wednesday in a YouTube video that it unwound the majority of its bet that ...

Investment firms back down after Reddit thread sends GameStop shares soaring By By MICHELLE CHAPMAN and STAN CHOE AP Business Writers Published  article PEMBROKE PINES, FLORIDA - JULY 21: An exterior view of a GameStop store on July 21, 2020 in Pembroke Pines, Florida. GameStop is among the latest retailers requiring masks to be worn in their stores to control the spread of the coronavirus (COVID-19) Expand A David and Goliath saga is unfolding in financial markets over the stock price of st...

GameStop shares soar after unlikely boost from Reddit users, 2 hedge funds flinch Updated Jan 27, 2021; Posted Jan 27, 2021 FILE - Two hedge funds are bowing out of their short positions on the money-losing video game retailer GameStop. Citron Research’s Andrew Left said in a video posted on YouTube that his company is going to become more judicious in shorting stocks. Melvin Capital is also exiting GameStop, with manager Gabe Plotkin telling CNBC that the hedge fund was taking a significan...

That pushed many professional investors to make bets that GameStops stock will decline even further. In such bets, called "short sales," investors borrow a share and sell it in hopes of buying it back later at a lower price and pocketing the difference. GameStop is one of the most shorted stocks on Wall Street. But its stock began rising sharply earlier this month after a co-founder of Chewy, the online seller of pet supplies, joined the companys board. The thought is that he could help in the ...

Reddit Rally, Fed Meeting, Tesla, Apple Earnings News Highlights: Reddit Rally, Fed Meeting, Tesla, Apple Earnings © Reuters By Geoffrey Smith Investing.com – The war between retailers on Reddit and short sellers on Wall Street continues and GameStop will double again upon opening. Jerome Powell will hold his first press conference since Joe Biden was sworn in as president, with Janet Yellen now confirmed as Treasury Secretary. Microsoft’s revenues set a high bar for Apple, Tesla and Fa...

Nam Y. Huh/AP Photo (file) A David and Goliath saga is unfolding in financial markets over the stock price of struggling retail chain GameStop. On Wednesday, Goliath walked away from the battle. Two Goliaths, actually. A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop’s stock will crash have essentially admitted defeat. The victor, for now at least, is a volunteer army of smaller investors who have been rallying on Reddit and elsewhere...

  Across most of America, GameStop is just a place to buy a video game. On Wall Street, though, its become a battleground where swarms of smaller investors see themselves making an epic stand against the 1%. The funds serving the financial elite are starting to walk away in defeat. Big bets they made that GameStops stock would fall went wrong, leaving them facing billions of dollars in collective losses. All the wild action pushed GameStops stock as high as US$380 on Wednesday, up from $18 j...

Retail investors plotted online to take down Gabriel Plotkin’s hedge fund. Now Citadel and Point72 have thrown it a lifeline.