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“#Reddit’s ‘epic’ silver squeeze is only helping Wall Street” Finally, a “Reddit rally” Wall Street can get behind. The merry band of day traders behind runaway stocks like GameStop piled into silver on Monday in an effort to squeeze Wall Street. But metals market experts say the resulting rally is more likely helping, rather than…
“#Social security will fail and other commentary” Fiscal watch: Social Security Will Fail At The Washington Post, Mitch Daniels admits defeat: All efforts to stop Social Security and Medicare from collapsing are futile, as “our political process is not capable of the kind of decisions that are necessary. The temptation to savage anyone proposing safety-net…
“#’You gotta let people trade, man’” Rapper Ja Rule, one of GameStop’s more famous investors, wants the little guy to keep trading. The Grammy-nominated artist joined CNBC’s “Squawk Alley” Monday to talk all things GameStop and Robinhood, after the millennial investing app restricted trading on some stocks. “I love Robinhood. It puts the stock market…
“#Robinhood explores raising $1 billion in debt” Robinhood, the online broker that has emerged as a gateway for amateur traders challenging Wall Street hedge funds, has held talks with banks about raising $1 billion in debt so it can continue to fulfill orders for heavily shorted stocks, according to people familiar with the matter. The…
“#Robinhood raises another $2.4 billion from investors” Robinhood raised another $2.4 billion from shareholders, just days after existing investors pumped in $1 billion in funding, the online brokerage said in a blog post on Monday. The round was led by Ribbit Capital, with participation from existing investors including ICONIQ, Andreessen Horowitz, Sequoia, Index Ventures and…
“#Analyst says AMC stock now a ‘sell’ as price target drops to $1” Wall Street analyst Eric Handler downgraded AMC to ‘sell’ Monday, despite the movie theater chain’s recent stock spike and announcement that it wouldn’t file for bankruptcy anytime soon. Handler, of MKM Partners, said AMC’s stock has been “decoupled” from the fundamentals and…
“#Multiple GameStop Stock Movies Are Now in the Works – /Film” That was fast. Following the very recent news that MGM has acquired the rights to a book proposal called The Antisocial Network in a bidding war, Netflix is now jumping on the bandwagon to make its own movie about the chaos that’s happening on…
“#Price of silver surges as Reddit traders find new target” Silver surged to its highest price in years on Monday as it became the latest target for a brigade of day-traders on Reddit. The precious metal was recently trading up about 9 percent at about $29.40 an ounce after rising above $30 for the first…
“#Hollywood already eyeing movie on WallStreetBets, GameStop” This was a sure bet… Hollywood already has its sights set on last week’s GameStop trading frenzy. MGM recently scored the rights to a book proposal about the WallStreetBets Reddit forum tentatively titled “The Antisocial Network,” Deadline reported Sunday. The planned tome, by Ben Mezrich, will explore how…
“#Melvin Capital lost 53 percent due to GameStop but got aid” Melvin Capital, the hedge fund at the center of the GameStop drama, lost 53 percent in January but received commitments for fresh cash from investors in the last days of the month, a source familiar with the fund said on Sunday. Melvin ended January…