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“#‘Roaring Kitty’ Keith Gill defends his GameStop posts amid lawsuit” A star Reddit trader known as “Roaring Kitty” plans to defend his bullish GameStop calls in front Congress one day after being slapped with a lawsuit for his role in the trading frenzy. The trader, whose real name is Keith Gill, is set to testify…
“#Goldman Sachs launches robo-adviser for Marcus customers” Goldman Sachs has jumped into the red-hot retail investor market — but don’t expect it to recommend stock tips that you’ve found on Reddit. The megabank unveiled a new robo-adviser tool on Tuesday, giving customers of its Marcus savings account access to its wealth management services, which had…
“#Robinhood’s Vlad Tenev admits GameStop communication failure” Robinhood CEO Vlad Tenev said the investing app could have more clearly explained why it had to block trades of GameStop and other stocks during last month’s Reddit-fueled market frenzy. “I think the challenge was that no doubt we could have communicated this a little bit better to…
“#Reddit, Robinhood bosses to testify at GameStop hearing” The bosses of Robinhood, Citadel, Melvin Capital and Reddit will testify next week at a House hearing about the wild trading involving GameStop and other stocks. Citadel’s Ken Griffin, Robinhood’s Vlad Tenev, Melvin Capital Management chief Gabriel Plotkin, Reddit co-founder Steve Huffman, and Keith Gill, a Reddit user…
“#Irate Robinhood traders fling poop, damage statue at HQ: report” Some Robinhood customers think the investing app is full of crap — and they’re not afraid to show it. Irate users threw dog poop, vandalized a sculpture and held a protest at Robinhood’s Silicon Valley headquarters as the startup limited GameStop trades amid the recent…
“#Is Elon Musk the new stock market oracle?” Has the “Oracle of Omaha” Warren Buffett been replaced by Elon Musk, the “Oracle of Memes”? The futurist billionaire, chief executive of Tesla and SpaceX, and world’s richest person is now also able to move markets, from cryptocurrencies to actual stocks, using a single tweet. It’s a…
“#Feds reportedly probing traders behind GameStop frenzy” Federal law enforcement authorities are investigating whether market manipulation or other financial criminal activity fueled the meteoric rise of stocks such as GameStop and AMC Entertainment last month, a report said Thursday. Investigators from the Justice Department’s fraud section and the US Attorney’s office in San Francisco have…
“#Why GameStop decided not to cash in on Reddit rally: report” GameStop considered cashing in on the recent Reddit-fueled rally in its stock price — but regulatory concerns stopped the retailer from pulling the trigger, a new report says. The Texas-based video-game chain weighed the possibility of selling new stock as rookie traders on Reddit’s…
“#Massachusetts regulators subpoena GameStop bull ‘Roaring Kitty’” Massachusetts securities regulators have issued a subpoena seeking the testimony of a YouTube streamer who helped drive a surge of interest in GameStop as part of a review of his registration, including his “outside business activities,” an official said Wednesday. The office of the Secretary of the Commonwealth…
“#Ken Griffin expected to testify at House ‘Reddit Rally’ hearing” Congress is eyeing both Main Street and Wall Street to testify at its upcoming “Reddit Rally” hearing, including billionaire trader Ken Griffin. The hearing before the House of Representatives on Feb. 18 is expected to include testimony from Griffin, founder and CEO of investment giant…