Monthly Archives: February 2021
GameStop’s slide continues, down 16% in after-hours trading
(CNBC) Shares of GameStop continued to lose ground after the bell on Monday, with shares of the volatile retail trader favorite sliding more than 16% in extended trading. The after-hours tumble follows a more than 30% drop during the regular […]
These two indicators could determine whether the GameStop rally is near its end
(CNBC) GameStop stock has defied gravity in the past and it could again, but there are some signs its stock may be topping out, some strategists say. GameStop was down sharply Monday, off more than 30% at $225. The price […]
BP reports full-year net loss of $5.7 billion after ‘brutal’ year
(CNBC) Energy giant BP on Tuesday reported a weaker-than-expected full-year net loss, following a tumultuous 12-months in which the global oil and gas industry faced a torrent of bad news. The U.K.-based oil and gas company posted a full-year underlying […]
SEC Charges Detroit Manager with Fraud for Using Investor Funds to Play Michigan State Lottery
(HedgeCo.Net) The Securities and Exchange Commission has charged Detroit-area businessperson Viktor Gjonaj for allegedly defrauding members of the Albanian-American community out of approximately $26.4 million, some of which he spent playing the Michigan State Lottery. According to the SEC’s complaint, […]
Hedge fund billionaire Steve Cohen leaves Twitter after family receives threats amid GameStop backlash
(CNBC) Steve Cohen, the founder of hedge fund Point72 and owner of the New York Mets, has deactivated his Twitter account after his family received threats this week amid the GameStop trading frenzy. “I’ve really enjoyed the back and forth […]
Robinhood to continue trading limits on Monday, customers can still only buy one GameStop share
(CNBC) Robinhood will continue to limit trading on Monday in short-squeeze names like GameStop that have experienced explosive rallies and unprecedented volatility over the past week. Customers can only buy one share of GameStop’s stock and five options contracts. However, […]
Dow futures turn positive in turbulent overnight trading after worst week since October
(CNBC) U.S. stock index futures turned positive in volatile overnight trading following last week’s heavy losses —the worst for the market since October. Futures contracts tied to the Dow Jones Industrial Average edged 67 points higher. S&P 500 futures and […]
Melvin Capital, hedge fund that bet against GameStop, lost more than 50% in January
(CNBC) 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. The heavy losses come as retail investors piled […]
Robinhood and Reddit protected from lawsuits by user agreement, Congress
(Reuters) Robinhood Markets Inc’s user agreement is likely to protect the brokerage app from a barrage of lawsuits filed by customers after it blocked a frenzied trading rally in companies such as GameStop Corp that was fueled on social media […]
VC investment in the Asia-Pacific region remained strong with $25.2bn in Q4
(Opalesque) In its strongest performing quarter of the year, Asia attracted $25.2 billion in VC investment in Q4’20 – up from $24.4 billion in Q3’20, said a study. “VC investment in Asia continued to rebound in Q4’20, driven primarily by […]
Wells Fargo CEO Scharf’s pay drops nearly 12% in 2020
(Reuters) Wells Fargo & Co Chief Executive Officer Charles Scharf’s annual pay fell by about $3 million, or 12%, in 2020, a regulatory filing showed on Friday. Scharf will receive $20.3 million for his work during the year, compared with […]
SEC Charges Wells Fargo In Connection With Investment Recommendation Practices
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for […]