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“#Potential regulations on hedge funds over GameStop frenzy is not prudent” New counterproductive regs on hedgies? There will undoubtedly be a regulatory response to the insanity surrounding GameStop and a few other one-time penny stocks. And it’s easy to see why: Only a few weeks ago shares of GameStop, along with Blackberry and AMC theaters,…
“#Robinhood posts help wanted ad for lobbyist” Good news, job seekers! One of the most vilified companies in America at the moment is hiring a lobbyist. Trading app Robinhood posted a listing for a manager of federal affairs position to a variety of job sites on Friday, giving some lucky applicant a chance to promote…
“#Elizabeth Warren enters GameStop discourse with letter to SEC” Sen. Elizabeth Warren on Friday asked the Securities and Exchange Commission to investigate the recent boost in GameStop stock price that was driven by calls for ordinary people to punish hedge funds. The Massachusetts Democrat raised the possibility that the stock rally, described as a populist…
“#American Airlines to issue $1B in new stock after price run-up” American Airlines’ stock rose earlier this week during market volatility around struggling companies, and now the airline is using the opening to sell up to $1.1 billion in new shares. American said Friday that it reached an agreement with lenders including Goldman Sachs and…
“#Biden, Psaki dodge GameStop trading scandal for second day” President Joe Biden refused to weigh in on the Reddit-fueled GameStop market frenzy on Friday as White House press secretary Jen Psaki for a second day also remained mum on the pressing issue. Biden ignored shouted questions from reporters in the Oval Office after the Securities and Exchange Commission earlier Friday said it…
“#Reddit co-founder Alexis Ohanian backs WallStreetBets rally” Reddit co-founder Alexis Ohanian endorsed the stock-market revolution unfolding on his website while slamming hedge-fund investors who he said use “bulls—” tactics to make their money. In a live-streamed interview with Rep. Alexandria Ocasio-Cortez, Ohanian said online traders like those in Reddit’s WallStreetBets forum have exposed the hypocrisy…
“#Jon Stewart joins Twitter to defend Reddit GameStop traders” Jon Stewart was prompted to join Twitter on Thursday to defend the renegade Reddit traders who turned Wall Street upside down this week. The former “Daily Show” host hit back at critics of the rogue day traders who used WallStreetBets to send GameStop’s stock skyrocketing in defiance…
“#Will the SEC probe the GameStop stock mania? Not so fast” The GameStop trading frenzy has morphed from an insane market story to a political one as well. Regulatory sources tell me that Wall Street’s top cop, the Securities and Exchange Commission, is eyeing a possible market manipulation case over the tremendous run-up in shares…
“#Robinhood to allow ‘limited buys’ of GameStop shares after freeze” Robinhood on Friday will again “allow limited buys” of shares in GameStop and other companies boosted by market-roiling Reddit users, according to the stock trading app’s co-founder. Vladimir Tenev tweeted the update Thursday afternoon, hours after Robinhood froze purchases of shares in the companies during…
“#Dave Portnoy of Barstool Sports loves GameStop stock chaos” Barstool Sports founder Dave Portnoy is cheering on the Reddit-fueled GameStop chaos rocking the stock market. “I love it,” he told The Post late Wednesday, before a wild day on Wall Street Thursday caused by the GameStop affair. “All the people complaining are just the establishment….