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“#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…
“# Robinhood users are still limited to one GameStop share ” Troubled trading app Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop (GME) shares. According to its website, Robinhood has lowered its list of restrictions to eight different stocks including GME, AMC, BlackBerry,…
“# 85% Dogecoin rally shows Wall Street Bets aren’t done with DOGE yet ” After gaining the spotlight due to a 980% pump on Jan. 28, Dogecoin (DOGE) briefly entered the top 10 ranking by market capitalization for the first time since 2015. Once the massive pump lost momentum and traders quickly took profits, it…
“# Hedge fund behind shorting GameStop reports 53% loss in January ” Melvin Capital started 2021 with $12.5 billion in assets before retail investors from Reddit caused the firm to lose billions on its GameStop short positions. According to a Wall Street Journal report, the hedge fund has a little more than $8 billion in…
“#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…
“# Thanks Bitcoin, MicroStrategy stock is up 113% since being downgraded by Citigroup ” On Dec. 8, 2020, Citigroup, one of the largest banks in the world, downgraded MicroStrategy’ss stock (MSTR). Since then, MSTR stock is up 113.27% from $289.45 to $617.31, as the price of Bitcoin (BTC) rallied. In the same period, the Citigroup…
“# Bitcoin ‘ascendant’ as GameStop saga unfolds, Bitfinex CTO says ” The sudden rise of stocks like GameStop (GME) have shined a positive light on Bitcoin (BTC), as more retail investors look to “rail against” the financial status quo, according to Bitfinex CTO Paolo Ardoino. Bitcoin’s price peaked north of $38,500 on Friday, just as…
“#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,…
“# FTX Token (FTT) rallies 105% as interest in derivatives trading grows ” FTX is a cryptocurrency derivatives exchange backed by Alameda Research, a quantitative trading firm and crypto liquidity provider. The exchange launched in April 2019 and offered the usual spot trading, inverse swaps and futures contracts that can be found at other major…