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    CDC reports 618 variant cases across 33 states; Johnson & Johnson applies for FDA authorization; 455K US deaths. Latest COVID-19 updates. What is COVAX? The worlds best hope for getting everyone vaccinated, explained Tax Implications of Buying and Selling Stocks During the Market Downturn When the market took a nosedive at the start of the coronavirus pandemic, did you dive into the stock market for the first time? Did you sell some of your holdings? Or did you start buying more? Or did you do a bit of both? © TheStreet Tax Implications of Buying and Selling Stocks During the Market Downturn Millions of Americans dove into the stock market and took advantage of low stock prices for the first time and millions also sold stock this year. You may be wondering "what are the tax implications of buying and selling stock?" or "what is the difference...
    Elon Musk has broken his silence on Twitter to promote the 'joke' cryptocurrency DogeCoin, sending the asset soaring as much as 60 percent and drawing concern over the Tesla CEO's ability to move markets. Musk, who earlier this week had vowed to stay 'off Twitter for a while', returned early Thursday with a flurry of memes promoting the obscure and frequently derided cryptocurrency. DogeCoin has the same technical underpinning as better-known cyrptocurrencies such as Bitcoin, but is little used and had long traded for less than one cent. It was created in 2013 and based on a then-popular internet meme of a Shiba Inu dog. Musk's tweets included a picture of a rocket soaring past the moon with the caption 'Doge,' and an image from the Lion King that showed himself holding up the dog from the Doge meme. Elon Musk has broken his silence on Twitter to promote...
    Reddit users on WallStreetBets (WSB) drew accusations of “market manipulation” last week as they cost hedge funds billions of dollars by driving up the price of GameStop and other struggling stocks, but hedge funds and billionaires have a long history of playing games with the market themselves. The share price of GameStop has come tumbling back towards earth, and the market has recovered from losses sustained at the peak of the WSB episode. But some billionaires like Leon Cooperman have continued to bash WSB and decry calls to increase taxes and regulations on billionaires. Here are five times billionaires and hedge funds played stock market games like some of them now accuse WSB of doing: New York Hedge fund billionaire Leon Cooperman just now on CNBC: “People are sitting at home getting their checks from the government. This ‘fair share’ is a bullshit concept and is just a way to...
    Golden State Warriors star Stephen Curry has listed a home he owns in Menlo Park for $1.349 million, reports the L.A. Times. Click  here if viewing from a mobile device. Curry acquired the home in 2019 for $1.2 million — around the same time he paid $31 million for his main residence in nearby Atherton. Golden State Warriors star Stephen Curry has listed a home he owns in Menlo Park. (Redfin)  Golden State Warriors star Stephen Curry has listed a home he owns in Menlo Park. (Redfin)  The quaint three-bedroom, one-bath home spans 1,240 square feet. It features a modern kitchen with quartz countertops, an updated bath and a converted attached garage that can be used as a bedroom. There is also a fun outdoor space with a patio and pergola for outdoor entertaining as well as raised vegetable garden boxes. A detached separate studio can be...
    3 National Guard pilots killed in helicopter crash near Boise Former Ohio Police Officer Charged with Murder in Fatal Shooting of Unarmed Black Man Andre Hill The dark side of the GameStop bubble: Driving stock prices to the moon can hurt America © Everett Collection / Everett Collection THE CONVERSATION Load Error Shares of GameStop and other companies or assets that shot up in value in recent weeks are now dropping like stones. While I feel sorry for the many investors who will likely lose a lot of money, the stocks’ return to Earth is actually a good thing — if you want to avoid financial meltdown to the long list of crises the U.S. is facing. The reason has to do with what financial markets are — and what they are not — as well as what happens when prices of stocks and other securities become untethered from the fundamental...
    New York (CNN Business)In his 2014 annual letter to shareholders, Amazon CEO Jeff Bezos wrote that a "dreamy business offering" comprises at least four elements: "Customers love it, it can grow to very large size, it has strong returns on capital, and it's durable in time — with the potential to endure for decades.""When you find one of these, don't just swipe right, get married," he wrote. Multiple Amazon businesses fit that bill, he added. Seven years later, that's proven to be true, but perhaps for none more than Amazon Web Services. AWS started in 2003 as an effort to use technology built to run Amazon's online store as an alternate revenue stream. It has since become the company's biggest moneymaker (although consumers may be more familiar with Amazon's marketplace and its massive distribution network). The service has also become the backbone of much of the internet, providing online infrastructure...
    Missouri lawmaker indicted for fake stem cell treatment DOJ drops Trump-era lawsuit against Yale claiming discrimination against Asian American and white applicants 5 things to know before the stock market opens Thursday Here are the most important news, trends and analysis that investors need to start their trading day: Dow, S&P 500 look to extend their rallies to four straight days Ken Frazier to retire as Merck CEO at end of June Apple and Hyundai-Kia pushing toward deal on Apple Car Klobuchar unveils antitrust reform that would impact Big Tech Biden signals flexibility on Covid stimulus 1. Dow, S&P 500 look to extend their rallies to four straight days © Provided by CNBC People walk past the New York Stock Exchange (NYSE) amid the coronavirus disease (COVID-19) pandemic in New York, February 3, 2021. U.S. stock futures rose Thursday as the Dow Jones Industrial Average and S&P 500...
    Black Americans lagging behind in COVID-19 vaccinations, data shows First Thing: House Republicans decide against punishing congresswomen Dow Futures Edge Higher, With Oil And The Dollar Gaining on Reflation Bets: Weekly Jobless Claims in Focus The Thursday Market Minute Global stock rally pauses ahead of weekly jobless claims and a rising U.S. dollar, . House Democrats approve procedural changes that will allow for the passage of President Biden's $1.9 trillion stimulus bill without Republican support. Treasury Secretary Janet Yellen will chair a hastily-arranged meeting of market regulators to discuss last week's retail-fueled rally on Wall Street that added billions in market value to money-losing companies like AMC Entertainment and GameStop. The dollar rises to the highest levels since late November, with bond yields also moving to the upside amid a broader 'reflation trade' powered by an improving U.S. economy. Global oil prices hold at 52-week...
    Reddit users on the subreddit “Wall Street Bets” joined forces on the stock market last week to stick it to hedge funds who bet against brick and mortar stores like GameStop and Bed Bath & Beyond, making themselves tons of money in the process. The reaction from those in power was to shut down trading, cry on television about this upending of the stock market, and even suggest criminality on the part of the Reddit users. The elites love gaming the stock market to make money, but all of a sudden its a problem when regular people do the same thing. Amber Athey explains the full saga on this week’s episode of Unfit to Print. (RELATED: How A Rabble Of Anonymous Redditors Stuck A Thumb In Wall Street’s Eye) LISTEN:  LISTEN:  WATCH:  Thanks for watching and check out past episodes of the podcast: Unfit To Print Episode 84: Media...
    VIDEO1:0101:01Why investors may need patience with the jobs numbersTrading Nation The economic report to watch this week may disappoint Wall Street. According to MKM Partners' Michael Darda, the January jobs report out Friday will likely show the labor market needs more time to recover from coronavirus case spikes and closures. "We have a slight chance of a beat, but it's uncertain," the firm's chief economist and market strategist told CNBC's "Trading Nation" on Wednesday. FactSet estimates the U.S. added 100,000 in non-farm payrolls last month versus a 140,000 decline in December. The unemployment rate is expected to hold steady at 6.7%. If the numbers fall short, Darda urges investors to have patience. He sees employment figures meaningfully improving by spring and summer. "If we get the reopening going, I think this V-shaped recovery that we saw in most of last year will come back," he said. "We're pretty optimistic. I...
    Derek Jeter has listed his waterfront mansion in Tampa — where Buccs QB Tom Brady currently lives — for $29 million. Realtor.com/Jasen Vinlove-USA TODAY Sports/Chris Graythen/Getty Images Derek Jeter is selling his massive Tampa mansion. The 21,796 square-foot home is currently occupied by newly-minted Tampa Buccaneers quarterback Tom Brady and his family. Jeter has listed the eight-bedroom, 16-bathroom estate for $29 million, and you can check out the full listing on Realtor.com. Visit Insider's homepage for more stories. Have you ever wondered what it's like to live like a sports legend? Look no further than 58 Bahama Circle in Tampa, Florida, the address that not one, but two American athletic icons have called home. Twenty-year New York Yankees shortstop and Hall of Famer Derek Jeter owns the sprawling, 21,796 square-foot mansion. Still, it's currently occupied by newly-minted Tampa Bay Buccaneers quarterback Tom Brady. The stunning estate boasts...
    Rory McIlroy says a volunteer stepped on his ball at Torrey Pines A State-by-State Guide to the Best Diners In America Stock Market Today With Jim Cramer: The Future of Amazon © TheStreet Stock Market Today With Jim Cramer: The Future of Amazon Stocks were mixed Wednesday following better-than-expected sales and earnings from tech giants Amazon.com and Alphabet. TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Amazon founder and CEO Jeff Bezos's decision to step down after 26 years, Alphabet's record earnings and markets on Wednesday. Amazon: Buy Or Sell? Amazon said Tuesday that founder and CEO Jeff Bezos will step down to become executive chairman, marking the biggest change in leadership of the tech giant in 26 years. Load Error Cramer said it is understandable why investors would want to sell Amazon stock with Bezos moving to...
    Edson Barboza becoming frustrated with the UFC By: Daniel Cunningham February 3, 2021 ShareTweetFlipRedditOne of the most exciting fighters in the UFC over the last decade has been Edson Barboza (21-9). Barboza made his debut with the promotion back in 2010 and has had some highlight moments throughout his career. When Barboza first came on to the UFC scene, he looked like a fighter that was destined to be a champion. However, while he’s always been considered a top contender, he never was able to make that jump to the championship level. He’s had some opportunities in title eliminator matchups, but he was never able to get the job done. In 2020, Barboza decided to switch things up for the benefit of his career. He decided to drop from the UFC‘s lightweight division to featherweight. He made his debut in May...
    Congress pays tribute to fallen Capitol Police officer Brian Sicknick NYC Health Commissioner Dr. Chokshi tests positive for COVID LIVE: Jim Cramer on Bezos, Amazon, Alphabet, Chipotle and the Stock Market Wednesday Whew. Tuesday night felt like a Friday news dump. © TheStreet LIVE: Jim Cramer on Bezos, Amazon, Alphabet, Chipotle and the Stock Market Wednesday But, of course, this works in the favor of TheStreet Live as we have a lot to talk about. Load Error Let's start with the headline that not only surprised Wall Street, but managed to make it into the mainstream media and it has to do with Amazon. The company announced that Jeff Bezos is stepping down from his role as CEO of Amazon. Bezos founded Amazon in 1994. Bezos will be transitioning to the role of Executive Chair in the third quarter of 2021. Taking his helm as...
    3 National Guard members dead in Black Hawk crash in Idaho UN court takes on Iran-US sanctions case The NFL Quarterback Trade Market is the New GameStop Stock If you missed out on the GameStop stock explosion, I'm sorry to inform you another opportunity for exponential growth has likewise already slipped through your fingers. Like GameStop, the valuation of this commodity doesn't seem based in reality but is nevertheless soaring in cost. I'm talking, of course, about the NFL quarterback trade market, where middling and subpar quarterbacks now cost the same as blue-chip inventory. © Provided by The Big Lead Sam Darnold. | Sean M. Haffey/Getty Images Already this offseason, we've seen former Lions quarterback Matthew Stafford cost the Rams two first-round picks, a third-round pick and a two-time Pro Bowler (Jared Goff) in a trade with Detroit. That for a 32-year-old who has made one Pro Bowl...
    FBI raids homes of 2 men who held rally on eve of Capitol attack My Story in All Its Messy Glory. Michelle Obama Is Releasing a New Edition of Becoming for Young Readers Best & Worst Refinance Mortgage Companies of 2021 Ad Microsoft Seniors Are Getting These Unsold 2020 SUVs For Dirt Cheap Ad Microsoft A slam dunk if you need a balance transfer Ad Microsoft Full screen 1/26 SLIDES © gradyreese / Getty Images If you’re selling your home, you probably want to get it off the market ASAP....
    A TINY fisherman's shack that does not even have an indoor toilet has gone on the market for £1.8million. The corrugated iron shed surrounded by bushes contains two bedrooms and an old-fashioned kitchen - but its location is the big draw. 6This fisherman's hut surrounded by bushes is on sale for £1.8millionCredit: realestate.com.au The eye-watering price tag is because it is set on half an acre among sand dunes with stunning ocean views in New South Wales, Australia. The modest shack is positioned on Broulee Head, between two golden sandy bays around 180 miles south of Sydney. Estate agents say home owners in the area rarely sell - so prices have gone through the roof. It comes with an outdoor toilet, also made of corrugated iron, and a separate garage. “There’s some romance to the shack because of its age. It could be done up - it is very quaint,”...
    during the forecast period. The tomato segment of the fruit & vegetable seeds market is projected to have highest CAGR between 2020 and 2025, by type. Tomato belongs to the Solanaceae family. New York, Feb. 03, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Fruit & Vegetable Seeds Market by Family Type, Form, Trait, Crop Type And Region – Global Forecast to 2025” – https://www.reportlinker.com/p04880632/?utm_source=GNW It is a perennial plant and is grown in temperate regions. Tomato is one of the world’s most important vegetable crop.There are 7,500 varieties of tomatoes, including beefsteak, plum tomatoes, pear tomatoes, cherry tomatoes, and grape tomatoes. Tomatoes require cross-pollination for growth. China, India, the U.S., Turkey, Egypt, Iran, Italy, and Uzbekistan are among the largest producers of tomatoes. Israel exports more than USD 2 billion worth of produce tomatoes are its fourth-largest commodity and is among the world’s top developers of...
    Hong Kong (CNN)A team of World Health Organization investigators in Wuhan are visiting a laboratory Wednesday that has been the focus of conspiracies and speculation about the origin of the coronavirus pandemic. The WHO investigators began research in the central Chinese city last week, after a 14-day quarantine and bureaucratic delays. Their work has been subject to intense scrutiny and political pressure from both within China and outside the country. Few places they are visiting are as controversial as a laboratory run by the Wuhan Institute of Virology, which officials in former US President Donald Trump's administration suggested, without providing evidence, could have been the origin of the coronavirus. The lab in question, which is affiliated with the central government-run Chinese Academy of Sciences, is the only one in mainland China equipped for the highest level of biocontainment, known as Biosafety Level 4 (BSL-4).BSL-4 labs are designed to study the...
    By David Shepardson and Nandita Bose (Reuters) - Amazon.com's new chief executive, Andy Jassy, who joined the company in 1997 and has overseen its fast-growing cloud computing business, says the key to long-term success is reinvention. "You want to be reinventing when you are healthy, you want to be reinventing all the time," Jassy, 53, said in December at a company forum. "You have got to be manancial and relentless and tenacious about getting to the truth.... You have to know what's working and what's not working." He cited Netflix's decision to cannibalize its own DVD rental business in favor of streaming. The focus on the future is fitting given Jassy's career is defined by his leading Amazon into a wholly new market: cloud computing. Amazon Web Services rents space and software programming for customers to run their technical operations on the company's servers. The arm now fuels Amazon's profits...
    It hasn’t been a good day for WallStreetBets, as GameStop’s stock has plummeted today. AMC, the community’s other bet, dropped as well. But unlike previous dips, the stocks don’t appear to be rallying. Prices stayed low for the entire trading day, something that hasn’t happened since WallStreetBets became a household name one week ago. When the market closed today, the price of GameStop was $90 even, an 81 percent drop from GameStop’s peak at $483, and a 58 percent drop from its price of $218 on Friday evening. AMC is down too, closing today at $7.82, which is a 61 percent drop from its peak at $19.88. It’s hard to believe that in August of last year, GameStop was trading at $4.50. Between then and last week, some investors bet that the stock was undervalued, driving it up to around $30 a share. Then, the WallStreetBets subreddit decided it...
    Millions of Americans could lose their homes despite President Bidens eviction moratorium order Biden forms task force to reunify migrant families separated under Trump These trading strategies can make the stock market’s trend your friend © Provided by MarketWatch MICHAEL SINCERE'S LONG-TERM TRADER Load Error An orchestrated short-squeeze on GameStop and AMC Entertainment Holdings lured traders into the stock market last month for a chance to strike it rich. Some retail investors made small fortunes while a few well-financed hedge funds got smashed. Power to the small investor. Few of us have ever seen an organized raid by retail traders, and it worked.  In reality, fad trades work on occasion, but don’t confuse buying GameStop AMC or any other targeted stock with a trading strategy. As MarketWatch columnist Brett Arends wrote: “This is gambling, not trading.” He’s right. Many traders are treating the market like a lottery game....
    VIDEO5:0505:05GameStop plunges after wild trading caused by retail traders' short squeeze — Here's what experts are watchingTrading Nation GameStop stock returned to earth this week, plummeting 70% in the past two days after its wild surge to end January. The stock's volatile market activity roused many questions around market regulation, retail trader activity, and future events in the market. Five market analysts explain the different ways GameStop's unforgettable week could affect the market. Kyle Bass, founder and CIO of Hayman Capital Management, notes the market benefits of short sellers and what could be lost given the heightened risk around short trading. "You've got retail traders getting together and laser-focusing on companies, and so I think the risk profile of being a short seller has dramatically changed. I think the one negative consequence that I see coming out of all of this is the fact that short sellers are a natural...
    Tiffany Hagler-Geard | Bloomberg | Getty Images GameStop, AMC Entertainment, BlackBerry, Dogecoin and silver – all have been subject to epic rallies and falls in recent days, spurred by droves of retail investors driving up prices and then selling. While it may be tempting to pile into an asset that's seen such rapid growth, financial experts say it's best to invest for the long-term. "A lot of the investors are just jumping in because of FOMO [fear of missing out]," said Yanely Espinal, director of educational outreach at Next Gen Personal Finance. It's important for investors to be aware of the cognitive biases they may have to recognize when they're being influenced by social media herd mentality, Espinal added. Speculating vs. investingSeveral stocks, including GameStop, AMC and BlackBerry, have spiked recently, driven by traders on WallStreetBets, a popular online forum on Reddit, looking to short squeeze hedge funds betting against the...
    An adorable dog has made a miraculous recovery after being rescued from a butcher who almost killed her. Sarah, a two-year-old small spitz, was rescued from a Chinese dog meat market in April, last year, where she lived in horrible conditions. The poor pooch nearly died after a butcher cut her throat but in a fantastic story of survival is now living her best life, waiting for a loving family to adopt her. Sarah was in a gutter searching for water when she was discovered by animal charity workers who rescued her with a life-threatening cut across her throat and one of her eyes smashed in. Sarah, a two-year-old small spitz, was rescued from a Chinese dog meat market in April, last year, where she lived in horrible conditions The poor pooch nearly died after a butcher cut her throat and smashed in one of her eyes. She...
    SolStock | E+ | Getty Images When Tim Maurer's two teenagers burst into his home office last week, excitedly talking about how a bunch of kids had taken on Wall Street, the Charleston, South Carolina, certified financial planner knew it presented a great opportunity to teach his boys about investing. Lecturing doesn't usually work, Maurer said. Therefore, it's important to be flexible so you can take advantage when kids show an interest. "When kids come to you and they are clearly curious, that is the best time to give them the education you would hope to instill in a speech and a lecture," said Maurer, wealth advisor and director of personal finance for Buckingham Strategic Wealth and BAM Alliance. Retail buyers, largely fueled by the Reddit chat room WallStreetBets, piled into GameStop and AMC Entertainment to squeeze hedge funds who had shorted the stock. Short selling is a strategy in...
    Dominik Osswald/Bloomberg via Getty Images Is silver the new GameStop? The question lingered Monday as the metal rallied, suggesting it was the market's next hot-ticket item. The answer is both yes and no — and they both signal investors should tread cautiously.   Silver prices hit an 8-year high on Monday, jumping to $29 an ounce, after an upswell of interest starting late last week. The iShares Silver Trust ETF, an exchange-traded fund, had spiked more than 11% last week. The metal's boom seemed to be tied to the same Reddit-fueled speculation that drove GameStop and other stocks like AMC Entertainment to dizzying levels in recent weeks. More from Personal Finance:Why the GameStop frenzy may hurt retirees along with hedge fundsGetting financial advice from TikTok and Reddit? That could backfireRepublicans push $1,000 stimulus checks. Here's who would qualify The frenzies don't seem to be tied to underlying investment fundamentals, but...
    EA Sports revives college football franchise as courts mull NCAA’s stance on amateurism 35 Unforgettable Royal Wedding Scandals, Shockers, and Bizarre Moments What happens after the GameStop bubble bursts? We don’t know where and when the GameStop story will end (though it may be ending fairly soon). But it’s easy to see the overall mania for day trading — propelled by a combination of social media, easy-to-use apps like Robinhood, Covid-19 stimulus checks, and Covid-induced boredom — and think of parallels to the dot-com boom a couple decades ago. © Sunset Boulevard/Corbis via Getty Images Charlie Sheen and Michael Douglas on the set of 1987’s Wall Street. Which makes it a good time to check in with Henry Blodget. Load Error Blodget is currently the CEO of Insider Inc., the digital publishing company he sold to Axel Springer in 2015. (Disclosure: I worked for Blodget when he started...
    VIDEO2:0702:07Why what happened with GameStop may not happen to silver ETFsHalftime Report Silver may have staved off the worst of its speculative frenzy. The precious metal retreated from eight-year highs on Tuesday after Reddit-fueled traders set their sights on the metals market in Monday's session, driving the price of silver up 8% in a day. But while retail traders may have been responsible for recent double- and triple-digit percentage moves in stocks including GameStop, their short squeeze play may not work on silver, GraniteShares founder and CEO William Rhind told CNBC's "ETF Edge" on Monday. "I don't think what happened in GameStop will happen to something like silver," said Rhind, whose firm runs the GraniteShares Bloomberg Commodity Broad Strategy ETF (COMB), 5% of which is invested in the metal. While silver is perceived as having high short activity from professional investors and the banks — providing an ideal "villain" for...
    Deadly storm continues to dump snow on Northeast Myanmar coup: Anger and anxiety after military seizes power and detains Aung San Suu Kyi 5 things to know before the stock market opens Tuesday Here are the most important news, trends and analysis that investors need to start their trading day: Dow looks for back-to-back gains after last week's decline GameStop's decline accelerates as Robinhood raises more money Pfizer raised full-year guidance after mixed quarter Democrats move to go it alone on Biden's Covid relief package CDC requires face masks on airlines, public transportation 1. Dow looks for back-to-back gains after last week's decline © Provided by CNBC People have a snowball fight outside the New York Stock Exchange (NYSE) during a snow storm in New York, February 1, 2021. The Dow is set to rise over 200 points at Tuesday's open, looking for a second day of gains...
    Key Companies Covered in the Europe Underfloor Heating Market Research Report Are Uponor Corporation, Danfoss, Siemens, Honeywell International Inc., nVent, Mitsubishi Electric Corporation, Emerson Electric Co., Warmup and others key market players. New York, Feb. 02, 2021 (GLOBE NEWSWIRE) — Owing to the COVID-19 pandemic, restrictions on international trade and travel were imposed to limit the spread of the virus, which severely impacted the import and export of several types of goods since January 2020, further hampering the trade flow of underfloor heating systems in the region. The fall in business resulted in low revenues of the key market players, which further enforced them to adopt cost-cutting measures. However, as per the key players, this market condition is anticipated to normalize by 2023 and is likely to witness an uptrend thereafter. During the 2nd Quarter of 2020, the market across the nations in Europe witnessed a decline as compared to...
    No. 15 Creighton looks for home win vs Georgetown The best breakfast burrito in every state Hedge funds are getting crushed by the worst short squeeze in a quarter century Hedge funds that bet against GameStop and other stocks have been crushed by the Reddit army -- and they're infecting the rest of Wall Street. © Mark Lennihan/AP A man walks past the New York Stock Exchange during a snowstorm, Monday, Feb. 1, 2021, in New York. (AP Photo/Mark Lennihan) The most heavily shorted stocks have nearly doubled in value over the last three months, according to Goldman Sachs. Those staggering gains created distress for short-sellers, setting off a negative spiral in the broader markets. Load Error "The past 25 years have witnessed a number of sharp short squeezes in the US equity market," Goldman Sachs strategists wrote in a note published Monday, "but none as extreme...
    Biden to sign executive orders on family separation and asylum Tech billionaire Elon Musk says hes off Twitter for a while The difference between speculation & investing © gopixa / iStock Stock risk concept All investments carry some risk, but the difference between speculating and investing can illustrate the level of risk involved. Speculating often describes scenarios when there’s a high chance the investment will deliver losses but also when the investment could result in a high profit. In contrast, investing generally refers to situations when an individual researches an asset and puts money into it with the hope that prices will rise over time a reasonable amount. The difference between speculating and investing can be nuanced and a matter of opinion. But when traders are speculating, they can wager on higher-risk markets such as cryptocurrencies, commodities or shares of smaller companies. They may use investment tools such as...
            by Andrew Kerr  A class-action lawsuit filed against the investing app Robinhood on Thursday just hours after it prohibited its users from purchasing GameStop stock is unlikely to be successful in court, legal experts told the Daily Caller News Foundation. And federal regulators with the Securities and Exchange Commission are going to have a hard time proving that the millions of retail investors from the Reddit forum WallStreetBets who forced a monumental short squeeze on GameStop, causing the company’s price to skyrocket nearly 1,500% in January, violated any securities laws, the experts said. “They may be ganging up, but it doesn’t seem like there are a lot of material misrepresentations being made. And the SEC’s standard modus operandi is to go after people who are making material misrepresentations,” University of Michigan Law professor Adam Pritchard told the DCNF. “These people may just be stupid. But...
    TOM BRADY has made himself at home on the field for the Buccaneers - and he's settled into his rented house too. The Tampa Bay quarterback and wife Gisele Bundchen are currently renting the seven-bedroom, nine-bathroom property worth $29million. ???? Follow all our latest news & stories on the Super Bowl. 15Derek Jeter's luxurious Tampa, Florida estate has hit the market for $29million 15One of the dining rooms features a 12-person dining table overlooking the water Star quarterback Tom Brady and supermodel Gisele Bündchen And their landlord is a sports legend as well - New York Yankees Hall of Famer Derek Jeter. The luxury Tampa property boasts a six-car garage, two boat lifts and nearly 9,000 square feet of outdoor space. It also features an 80-foot-long saltwater lap pool with a heated spa and is surrounded by a six-foot-tall privacy wall that residents in the area reportedly dubbed “The Great...
    Super Bowl stars: Where are they now? Angelina Jolie Just Made a Rare Comment About Her Split From Brad Pitt Stock futures open little changed after Wall Streets strong start to the week U.S. stock futures were little changed on Monday evening after the equity market kicked off the week with a bounce-back session. © Provided by CNBC Traders on the floor of the New York Stock Exchange. Futures contracts tied to the Dow Jones Industrial Average ticked up 18 points, or less than 0.1%. Those for the S&P 500 and the Nasdaq 100 hovered even closer to the flat line. Load Error The move in futures follows a broad-based gain for the market on Monday, which saw the Dow add nearly 230 points and all 11 sectors in the S&P 500 rise. The stock market was coming off its worst week since October. The positive day...
    Traders on the floor of the New York Stock Exchange.Source: The New York Stock Exchange U.S. stock futures were little changed on Monday evening after the equity market kicked off the week with a bounce-back session. Futures contracts tied to the Dow Jones Industrial Average ticked up 18 points, or less than 0.1%. Those for the S&P 500 and the Nasdaq 100 hovered even closer to the flat line. The move in futures follows a broad-based gain for the market on Monday, which saw the Dow add nearly 230 points and all 11 sectors in the S&P 500 rise. The stock market was coming off its worst week since October. The positive day for equities came despite another volatile day in parts of the market that have been the focus of retail traders. Shares of GameStop, fresh off a 400% rise last week, slid 30% on Monday and continued...
    VIDEO4:3704:37Reddit traders move on to silver as their next short — Here's what's next for the precious metalTrading Nation Silver prices surged Monday, hitting an eight-year high. The rise was possibly connected to the online WallStreetBets community on Reddit, a group of retail traders who played a major role in the rise of GameStop last week. Three experts broke it down. Jim Cramer, host of CNBC's "Mad Money," discussed the complex nature that comes with investing in precious metals, which faces its own limits as a resource. "People need to recognize that silver, while a precious metal, is chiefly used for LED. It's used a great deal for autos, obviously a great deal for jewelry. When you take it away, you're talking about a market that is very small. There are only two stocks that are really investable … Pan American Silver does have 17.5 million silver ounces, they failed...
    China’s state-run Global Times on Sunday celebrated the GameStop stock-shorting saga as a failure of free market capitalism, boasting that such a wild ride could never be taken in China’s tightly-controlled financial system. As far as the Chinese Communist paper was concerned, the GameStop stock market revolt was merely an extension of the January 6 riot on Capitol Hill, with both events “exemplifying a fragmented democracy.” Chinese analyst Wu Jinduo of Great Wall Securities said America’s loose monetary policies and clumsy pandemic stimulus efforts set the stage for the GameStop revolt, which looks like a victory for the retail investors, unlike the outcome on Capitol Hill: As part of moves to revive the pandemic-plagued US economy, the Fed slashed interest rates to zero and implemented unlimited quantitative easing, and as a result, US stocks stabilized since the second quarter of last year. But it is Wall Street that has benefited...
    ANONYMOUS redditors have shaken up the stock market again just a week after boosting the value of GameStop stock - this time, they've sent the price of silver and gold soaring. Just a month into the new year, the price of silver soared to its highest in eight years thanks to thousands of active stock market investors on Reddit. 1The price of gold has spiked after investors on Reddit drove up its stock market valueCredit: AP:Associated Press Why is the price of gold going up? A week after investors on Reddit's WallStreetBets forum drove up the price of GameStop, users also increased the price of silver after creating similar interest in the commodity. Some analysts believe gold prices are being led by the massive surge in silver prices, which rose above the $30 mark for the first time since 2013. US gold futures on the markets steadily traded nearly one...
    Why Tom Brady is one of America’s most polarizing athletes The Hilarious Story Behind Mila Kunis & Ashton Kutchers Super Bowl Ad Buy-the-Dip Candidates in the Stock Market: Buy Ford Stocks are higher Monday after this past week that saw heavily-shorted stocks rise behind a wave of retail investors from Reddit's WallStreetBets. The Nasdaq is up over 300 points Monday. © TheStreet Buy-the-Dip Candidates in the Stock Market: Buy Ford GameStop was the main focus of the subreddit traders but AMC , Koss , Bed Bath & Beyond and Virgin Galactic were also targeted. Load Error Here are several stocks that fell this past week and could present an opportunity to "buy the dip". 1. eHealth | -39.99% 5 day | -32.66% 1 Month eHealth announced its support to re-open ACA enrollment for people impacted by the Covid-19 pandemic this past week.. TheStreet Quant Ratings...
    Online brokerage firm Robinhood raised $2.4 billion from shareholders over the weekend, bringing the company's fundraising total to $3.4 billion since Thursday as the company continues to address the fallout from volatility in stocks such as GameStop. Robinhood called the investments, the most money the company has ever raised, "a strong sign of confidence from investors" and said that it "will help us build for the future and continue to serve people through the exponential growth we’ve seen this year." The company said in a blog post that it plans to use the funds to "build and enhance our products that give more people access to the financial system." "This round of funding will help us scale to meet the incredible growth we’ve seen and demand for our platform. We are humbled by our customers’ response to our offering, and remain inspired by everyday people taking control of their financial...
    Markus Golden: It really matters to me to be in Arizona This Is Exactly When Well See the Next COVID Surge, Experts Warn Best & Worst Refinance Mortgage Companies of 2021 Ad Microsoft Seniors Are Getting These Unsold 2020 SUVs For Dirt Cheap Ad Microsoft A slam dunk if you need a balance transfer Ad Microsoft ...
    By Jacqueline Davalos | Bloomberg In sharp contrast to the “slacker” stereotype that has defined their generation, millennials aren’t living in parents’ basements. They’re buying multimillion-dollar homes. At 38%, millennials—adults born from 1981 to 1996—represent the largest share of homebuyers in the U.S., according to a survey by the National Association of Realtors released last year. “They’re just as interested in owning a home. They just waited longer to buy their first one,” says Bradley Nelson, chief marketing officer of Sotheby’s International Realty. Breaking from the notion of a “starter home” that older generations embraced, wealthy millennials, Nelson says, are going big. “In the past, people bought a modest property, lived in it until starting a family, and then traded up to a larger property,” he says. “Millennials are finally coming out of the gate, and it’s not uncommon for the first purchase as a first time homebuyer to be a multimillion-dollar luxury...
    Australian Rules: Collingwood promise change after review finds systemic racism at club Groupe Clarins Unveils New Institutional Campaign, Logo 5 things to know before the stock market opens Monday Here are the most important news, trends and analysis that investors need to start their trading day: Wall Street set to bounce on first day of February Biden to meet with GOP senators on Covid stimulus GameStop volatile Monday after last week surge Reddit trading craze appears to spill over in silver Elon Musk talks Robinhood and bitcoin on Clubhouse 1. Wall Street set to bounce on first day of February © Provided by CNBC Traders work on the floor of the New York Stock Exchange. February trading began where January left off, with volatility in stocks as Dow futures swung from down more than 200 points overnight to up over 200 points Monday morning. Starting off a new...
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    LONDON (AP) — The price of silver is rallying as the online trading movement fuelling the rise of unloved shares like GameStop took a shine to the precious metal. Silver futures jumped more than 10% on Monday, after briefly rising above $30 an ounce early trading, following strong gains over the weekend. On Twitter, #silversqueeze was trending as investors turned their attention to the latest market strategy to emerge from the “WallStreetBets” forum on Reddit. The online army of Reddit traders have over the past week rallied to defend out-of-favor companies such as Gamestop and AMC, defeating hedge funds that had bet the shares would fall by selling them short, in a stunning reversal of financial power transfixing Wall Street. Now silver has become the latest example of the influence wielded by followers of WallStreetBets targeting inequality in the global financial system. Michael Every, global strategist at Rabobank,...
    VIDEO1:4401:44It may be difficult to find 'hard evidence' of collusion in GameStop saga: ProfessorStreet Signs Asia It's unlikely that the recent market frenzy in stocks such as Gamestop and AMC Entertainment was purely driven by retail investors, argues Bart Zhou Yueshen, assistant professor of finance at INSEAD. "Given the amount of trading volume last week we saw, it is just hard for me to believe it was only these retail investors who were trying to push the squeeze," Zhou told CNBC's "Street Signs Asia" on Monday. In the past week, U.S. market headlines have been dominated by the stunning rallies in stocks like GameStop, which has rocketed more than 1,500% since the start of the year. Investors were piling into stocks with a large percent of their shares sold "short" and creating "short squeezes," or driving traders on the other side of the bet to buy more stock to cover their losses....
    After President Biden signed executive orders addressing the pandemic itself and its financial fallout, it is reportedly looking at other ways to boost the economy and help Americans. One idea that was floated during the campaign may actually find bipartisan support — a Jill Schlesinger  $15,000 first-time homebuyer tax credit. Unfortunately, unlike so many other important proposals which are designed to help those most in need, a credit to help would-be homeowners, seems unnecessary. Related Articles GameStop’s online stock hype is old-school story Jill On Money: Biden stimulus could make 2021 even stronger Jill On Money: Why did stocks rise amid all the chaos in Washington? Despite pandemic, financial optimism “uncharacteristically high:” survey Jill On Money: The financial resolution you should be making in 2021 The Biden tax credit is modeled after similar ones created in the aftermath of...
            by Ed Ring  Short sellers claim there is a moral and economic worth to their trade. They supposedly keep the market honest by exposing overvalued stocks, thereby preventing “irrational exuberance” from creating stock bubbles. If that was all there was to it, they’d be right. Stock bubbles tend to pop eventually, and when they do, the worst case scenario is that the collateral they represent implodes, the loans that the collateral enabled go into default, and trillions in debt-fueled liquidity is erased in a cascading downward spiral. And just like that, the economy collapses into a deflationary depression that makes the 1930s look like a cake walk. There are good reasons we don’t want to demonize short sellers indiscriminately, or drive them out of the market. What’s happening with Robinhood and the Reddit “mob,” however, exposes the gritty reality behind the high-minded justifications for short-selling....
    The 5,000-square-foot home is in the upscale Kalorama neighborhood, where the Obamas live and Jeff Bezos owns a home. Rodrigo Valderrama Ivanka Trump and Jared Kushner's former Washington, DC house is available for rent for $18,000 per month. The couple rented the home for four years, paying $15,000 per month. Trump and Kushner have now reportedly moved to Florida, where they bought a $32 million lot on an island known as the "Billionaire Bunker." Visit Insider's homepage for more stories. Like the rest of the Trump clan, Ivanka Trump and Jared Kushner have reportedly decamped to Florida following President Joe Biden's inauguration. Now, their former Washington, DC rental is back on the market for $18,000 a month, the Washington Business Journal reported. The 5,000-square-foot house is in the upscale Kalorama neighborhood of northwestern DC, where Amazon CEO Jeff Bezos owns a $23 million mansion and where former...
    12 years after exploring the origins of Facebook and founder Mark Zuckerberg, author Ben Mezrich is now exploring the GameStop/Wall Street Bets saga, which will be turned into a movie. MGM picked up the rights to a new book proposal by Mezrich entitled The Antisocial Network, which will follow the Redditors at Wall Street Bets who took on the hedge funds trying to short sell GameStop, via Deadline. Mezrich's 2009 book The Accidental Billionaires was adapted into the 2010 movie The Social Network, with this new project reuniting Mezrich with Michael De Luca, who produced The Social Network and is now the chairman of MGM. Ben's book: 12 years after exploring the origins of Facebook and founder Mark Zuckerberg, author Ben Mezrich is now exploring the GameStop/Wall Street Bets saga, which will be turned into a movie GameStonk: MGM picked up the rights to a new book proposal by Mezrich...
    Drama surrounding the GameStop trading frenzy and user fury at the Robinhood platform shows that Wall Street is 'a rigged game,' Elizabeth Warren said on Sunday. The Massachusetts senator, known for her tough take on the financial system, said that the market had been turned into a 'casino'. She urged the Securities and Exchange Commission (SEC) - founded following the stock market crash in the 1920s to protect investors and the national banking system - to do their job. 'Let's start with the fact we actually don't know who all the players are in this, whether there is big money on both sides,' she said, alluding to accusations that Robinhood prevented purchase of GameStop and other stocks at the behest of large hedge funds, losing huge amounts of money. Elizabeth Warren appeared on CNN's State of the Union on Sunday to discuss GameStop Sen. Elizabeth Warren on the GameStop...
    VIDEO1:3201:32PNC's Amanda Agati lists three factors creating a 'perfect storm' in marketTrading Nation PNC Financial's Amanda Agati sees three reasons for the market's speculative craze: No commission trading, low interest rates and another round of stimulus checks. Together, the firm's chief investment strategist calls them a "perfect storm." "The rise in no commission trading, a la Robinhood and a number of retail trading apps, has no doubt added fuel to this fire," she told CNBC's "Trading Nation" on Friday. "Also, the low interest rate environment that we continue to find ourselves in really has made the cost of significant risk taking pretty reasonable." According to Agati, the timing of the giant short squeezes in stocks including GameStop and AMC Entertainment through Reddit and other chat rooms is no coincidence. "The final piece of it and not something to discount at all is really the stimulus checks," she said. "Those rolling out...
    Leverkusen sign winger Gray from Leicester The top 50 old-school Italian restaurants in America The Reddit Army Bailout: Desperate Companies Get New Lifelines (Bloomberg) -- It’s the kind of rescue that the most indebted companies in America can only dream of: a fresh injection of cash that doesn’t hurt their already depressed stock price or load even more costly debt onto their balance sheet. Load Error Yet thanks to the army of day traders who use Reddit to tout and bid up out-of-favor stocks and squeeze short sellers, firms such as American Airlines Group Inc. and AMC Entertainment Holdings Inc. have found themselves on the receiving end of just such a lifeline. Both took steps over the past week to sell hundreds of millions of dollars worth of shares and secure much-needed liquidity. Besides the companies themselves, there’s perhaps no bigger winner from the massive stroke of good...
    Deshaun Watson will now cost NFL teams a bit more than they cared to pay for thanks to Matthew Stafford. The Houston Texans were one of the worst franchises in 2020, but they had an ace in the hole. Deshaun Watson, the first and only franchise quarterback since the team’s arrival in 2002, made things a bit easier on a lost season. Matthew Stafford is LA bound. ???? pic.twitter.com/b6stbYP8md — NFL (@NFL) January 31, 2021 It doesn’t matter if Watson wants to play for two teams or 10. Stafford’s deal now is only making Caserio sit down to reevaluate what happens next. No one wants to deal a bonafide star, but in a rebuilding franchise, a multitude of picks might be too much to pass up. The Texans are one of the biggest winners of the Stafford trade late Saturday night. Entering the night, there was no plan...
    Traders work on the floor of the New York Stock Exchange.NYSE The vivid popular storyline in the markets last week portrayed the masses of small-fry investors getting the better of Wall Street's bullies, with frenzied buying of heavily shorted cast-off stocks dealing massive losses to smug hedge-fund managers who had had used bearish bets to abuse the likes of GameStop and AMC Entertainment. There's truth in this as far as it goes – but it goes only so far as to cover perhaps a few-dozen stocks with extremely high short interest, and does not imply the broad market is ripe for these short-squeeze stampedes to be a strong or lasting driver of the investment outlook. A couple of flawed premises are at work in the simple David-vs.-Goliath angle. For one thing, neither hedge funds nor short sellers have ruled the Wall Street playground by any stretch in recent years. Quite...
    By Stan Choe, Damian J. Troise and Alex Veiga | Associated Press Another bout of selling gripped the U.S. stock market Friday, as anxiety mounts over whether the frenzy behind a swift, meteoric rise in GameStop and a handful of other stocks will damage Wall Street overall. The S&P 500 dropped 1.9%, giving the benchmark index its biggest weekly loss since October. The Dow Jones Industrial Average and Nasdaq each fell 2%. GameStop shot up nearly 70%, clawing back much of its steep loss from the day before, after Robinhood said it will allow customers to start buying some of the stock again. GameStop has been on a stupefying 1,600% run over the last three weeks and has become the battleground where swarms of smaller investors see themselves making an epic stand against the 1%. The assault is directed squarely at hedge funds and other Wall Street titans that had...
    More On: gamestop Boomer Esiason unloads on Mets owner over stock madness: ‘Keep your mouth shut’ ‘They are playing dirty’: Small investors flee Robinhood Traders suing Robinhood will likely struggle in court: report Day 3 of the GameStop stock fiasco: Everything we know 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 rebellion against Wall Street, actually could be driven by “scam artists executing a ‘pump-and-dump’ stock scheme.” “I am deeply concerned that these casino-like swings in the value of GameStop and other company shares are yet another example of the gamesmanship that interferes with the ‘fair, orderly, and efficient’ function of the market,” Warren wrote in a letter to acting SEC Chairwoman...
    Shares of GameStop and AMC saw tremendous gains this week as an army of small retailer investors beat back sophisticated hedge funds that had bet against the stocks. 1. A Bet That GameStop Won’t Stop Although GameStop’s meteoric price climb—from $35.50 last Friday to $280 today—grabbed lots of attention this week, a group of online investors have been saying the company was undervalued for over a year. Keith Gill, better known through his online handles Roaring Kitty on YouTube and DeepF*&^%Value on Reddit’s WallStreetBets group, started buying up shares in 2019. The basic concept was simple. A lot of big investors had decided that GameStop was the next Blockbuster, a brick-and-mortar retailer doomed to financial ruin by technological change. Gill and others wondered if it could become the next Netflix, ramping up its online sales, or revive its physical stores by turning them into places where customers would go for...
    Traders work on the floor of the New York Stock Exchange.NYSE Earnings news from Amazon and Alphabet, the important January jobs report and Washington's discussion of stimulus could all be important to markets in the week ahead, but none of it is likely to get more attention than the short squeezes driven by retail investors. Stocks had a rocky week, with the S&P 500 down 3.3% to 3,714. The S&P was down 1.1% for January, its first negative month since October and a warning for the year, according to the old Wall Street adage. "We were due for some type of decline. We've been straight up since October. It's not usual that we're backing off a bit," said Steve Massocca, managing director at Wedbush Securities. Trading could remain bumpy in the coming week, as the S&P 500 struggles to hold above 3,716 its 50-day moving average and a key technical...
    Fact check: No evidence for false claims on vaccine warning label Pedophile financier Jeffrey Epstein used a bizarre messaging system called Mindspring to boss around the people in his home Tesla Mutual Funds: Understanding TSLAs Addition to the S&P 500 When Tesla (ticker: TSLA) was added to the S&P 500 in December 2020, it was likely the biggest company by market value added to the benchmark index. © (Getty Images) Fremont, CA, USA - January 20, 2021: Tesla factory plant, an American electric vehicle and clean energy company based in Palo Alto, California At the time, Tesla's market cap was $600 billion. That has grown to around $800 billion, and the company has seen monster valuation growth. In 2020 alone, TSLA stock rose more than 700%. Goldman Sachs said in a research note that had the electric vehicle maker been in the S&P 500 since the beginning of the...
    Happy Friday MarketWatchers. Don’t miss these top stories:The simple way to raise your financial IQ in just three days To get better at money, you have to get better at life. You have to make the effort to understand the world, finance, the economy, and most importantly, yourself. That is the idea behind Mastering Your Money MarketWatch’s new live free event series that kicks off February 3rd.Some furious Robinhood users are suing — but there’s potentially a big road block in their way to court 'Class actions are incredibly difficult.' Don’t worry, the GameStop-Reddit fiasco won’t tank your 401(k) Amid all the freneticism of the Reddit-hedge fund battle, the simple fact is that it means very little to the majority of investors.‘You have to be smart’: Are you a first-time investor who wants a slice of GameStop’s epic ride? Read this first 'Some ways of betting on the movement of...
    The markets are not okay. If you’ve paid any attention to internet chatter this week, you’ve probably seen the names RoaringKitty or DeepFuckingValue — the bullish trader behind the recent GameStop stock phenomenon who’s inspired millions of retail investors to get behind his bet, which has nearly bankrupted at least one hedge fund. Until recently, the person behind the handles has been something of a mystery; they post their balance sheet with their millions in gains and losses on Reddit’s r/WallStreetBets forum, but that’s all there’s been to go on. Today, however, The Wall Street Journal catches up with the 34-year-old behind the sensation: his name is Keith Gill, and he’s a father and certified financial analyst who lives in Massachusetts. In his own words, he didn’t expect any of this. He’s just a guy who used to market life insurance. (Though he does say that he might build...
    NEW YORK -- GameStop's stock is back to the races Friday, and the overall U.S. market is down again, as the saga that's captivated and confused Wall Street ramps up the drama.GameStop shot up more than 70% in afternoon trading, clawing back most of its steep loss from the day before, after Robinhood said it will allow customers to start buying some of the stock again. GameStop has been on a stupefying 1,900% run over the last three weeks and has become the battleground where swarms of smaller investors see themselves making an epic stand against the 1%.The moves are reverberating across Wall Street, as concerns rise about how much damage the frenzy could do as its effects spill out into the broader market. The big professional investors who had been banking on a drop for GameStop's stock are taking sharp losses. Investors say that's pushing them to sell other...
    Louisiana cemetery changes whites only contract after Black sheriffs deputy denied burial First responders describe chaos at US Capitol riot Time to reduce risk in the broader stock market amid the nonsense around Robinhood, Reddit and GameStop © AFP via Getty Images REVOLUTION INVESTING Load Error Wall Street is a tough place. If it were featured in a movie: It has gangsters, such as Tier 1 investment banks with divisions that never have down trading days because they trade in front of, and with, other investors. It has swindlers, who will promise and say anything in their fancy presentations and on their websites about how the companies they recommend you invest in will someday do great things, while the people in charge are selling as much stock to as many fools as they can. Wall Street is stacked to make sure the big boys always win, and if...
    Bidens OSHA issues new COVID-19 worker safety guidelines, considers enforceable orders Traveling to Ghana during Covid-19: What you need to know before you go Is the Stock Market in a Dangerous Bubble? Investing in stocks can be emotionally draining. You’re obviously nervous when stocks are falling, but when times are good — and they’ve been very good lately — you’re worried the fat lady is warming up in the wings. © Money Talks News / Shutterstock.com The later scenario is where we find ourselves today. By virtually any historical measure, valuations are stretched, stocks are overvalued, the markets are frothy and speculation is running rampant. There’s no question stocks are expensive. The problem? They could easily get more expensive before the bottom drops out. Bubbles can run for months, even years, before they finally pop. So what’s an investor to do? That’s what this week’s “Money!” podcast is about: deciding whether...
    More On: gamestop Facebook reverses course on banned Robinhood trading group ‘Dr. Frankenstein’ of short selling says his firm will make a major shift Biden, Psaki dodge GameStop trading frenzy scandal for second straight day Rush Limbaugh compares Robinhood’s GameStop freeze to political elites Keith Gill, the Redditor known as “DeepF–kingValue” who led an army of average Joes to drive up the cost of GameStop stocks, is everything you’d expect him to be. He’s 34, wears an orange samurai-esque headband over his shoulder-length hair, loves cat t-shirts and operates a YouTube channel from a Boston basement behind a desk littered with used cups, assorted tech gear, sports hats and Uno cards. But in a recent interview with the Wall Street Journal, the man who goes by “Roaring Kitty” on YouTube insisted he’s just a normal guy, albeit a nerdy one that just got extremely wealthy. “I didn’t expect this,”...
    Titans to promote tight ends coach Todd Downing to offensive coordinator Report: Lack of diversity, low morale plague Louisville PD GameStop traders outsmart the smart guys, leaving an indelible mark on Wall Street The battle between retail traders and big investors has empowered a large group of investors to find market inefficiencies and force hedge funds and others to reassess their strategies and exposure. GameStop was the poster child for an assault on heavily shorted stocks by small investors, giving the stock a wild ride. Online brokers were criticized for barring some trading in the most active short names, drawing the interest of lawmakers who are now expected to use it as an opportunity to look more broadly at Wall Street. © Provided by CNBC Traders work on the floor of the New York Stock Exchange. Small investors outsmarted the smart money, and the war between the...
    PHT Morning Skate: Waiting for Dubois, Laine; $1B in new debt for NHL How much Covid-19 protection does travel insurance offer in 2021? This surprising strategy for timing the stock market has an academic seal of approval © Getty Images MARKETWATCH PREMIUM There is an easy way to successfully time the stock market, according to a recent academic study: Increase your equity exposure when the market’s volatility (as measured by indicators such as the VIX) is lower than where it was a month previously—and vice versa. This advice is surprising for at least three reasons: First, we’ve been told for years that the VIX needs to be interpreted in just the opposite way—that higher levels are more bullish than lower readings. That turns out to be at misleading, if not outright wrong. Secondly, notice that this new advice is to follow our emotions rather than fight them: Going...
    Child care problems skyrocketed under COVID. Women paid the price. Julia Roberts tested Matthew Perry before agreeing to appear on Friends ‘To the moon’: How GameStop-boosting stock traders kicked off a shocking Wall Street feeding frenzy A feisty group of rebels goes against the evil empire. It's a classic Hollywood setup for a good-vs-evil tale like Star Wars. The story is simple to understand and easy to moralize, and it's how some pundits are characterizing the fight between a group of traders who have rallied behind GameStop stock and forced some short sellers to take significant losses. © Spencer Platt/Getty Images A few pedestrians pass in front of a GameStop store But this narrative is a bit too simplistic to show what's actually happening with GameStop - who's winning, who's losing and why. Blow up that story like the Death Star blew up Alderaan. Load Error While the...
    Celebrity kids then and now: See how theyve grown How Oprah and These Other Big-Name Celebs Made Their Fortunes The latest Robinhood news has GameStop stock exploding again If you’ve been following the GameStop stock saga — which is what I’m calling it but it’s really a stock market saga involving a bunch of companies and some investors on Reddit who are driving prices up all over the place — you know the latest chapter was investment app Robinhood restricting trades of certain stocks, including GameStop. © Provided by For The Win That might have led to the already huge price of GameStop dipping a bit on Thursday, but still at pretty extraordinary values. But now there’s some reports about what’s next for Robinhood: per the New York Times, it raised $1 billion from its investors after all this “activity [that] has put a strain on Robinhood, which has...
    The Whiteboard is The Step Back’s daily basketball newsletter, covering the NBA, WNBA and more. Subscribe here to get it delivered to you via email each morning. NBA trade rumors are slowly heating up but with James Harden now in Brooklyn, it’s hard to tell where the next big deal is going to come from. Today we’re taking a quick spin around the league to see where things stand. SUBSCRIBE: Get The Whiteboard delivered daily to your email inbox #OtherContentTrading for Bradley Beal would certainly maximize the fun factor for the Warriors. But would it make them a contender again? Katie Heindl’s splendid NBA advice column is unpacking the (terrible) idea for an NBA All-Star Weekend. Mid-range auteurs will be delighted to hear that this ‘dying’ art is being revitalized by none other than Jaylen Brown. Rob Mahoney on Joel Embiid’s unique brilliance is perfect. Contract year Julius Randle is a...
    Opinion: With lost games, NBA could be heading toward competitive fairness issue This Online Store Has the Worst Customer Service in America 5 things to know before the stock market opens Friday Here are the most important news, trends and analysis that investors need to start their trading day: Dow futures extend losses as Wall Street's volatile week continues J&J says vaccine less effective against some Covid variants Robinhood raises $1 billion, taps credit lines to facilitate GameStop trading Elon Musk's tweets about cryptocurrencies spark rallies Democrats reject GOP attempts to break up Biden relief measure 1. Dow futures extend losses as Wall Street's volatile week continues © Provided by CNBC American flags hang from the facade of the New York Stock Exchange (NYSE) building in New York January 28, 2021. The Dow Jones Industrial Average was set to drop 300 points at Friday's open, extending losses with...
    Reuters January 29, 2021 0 Comments The army of small investors behind this week’s dramatic squeeze on Wall Street hedge funds returned to drive shares in GameStop and other hot companies higher on Friday as online broker Robinhood eased disputed trading restrictions. Shares in the video game store chain and headphone maker Koss Corp both doubled in early deals after slumping on Thursday when several online platforms imposed buying halts, sparking a backlash from investors, celebrities and policymakers. Robinhood said on its website that it was easing the restrictions, but still not allowing purchases of fractional shares in GameStop and 12 other companies, effectively meaning smaller investors have to bet more in order to buy in further to the trade. The website also showed the brokerage, which has said its hand has been forced by the surge in market volatility, was maintaining numerical limits on the number of shares...
    DALLAS (CBSDFW.COM) – Sranan Krishna spent years watching stock in Grapevine-based GameStop plummet. He bought his shares in 2014 for about $8,000. “A long rollercoaster, but it went up!” he said. In the midst of sudden surge, he sold it all two days ago for $19,000 and nearly hit a much larger jackpot. “I had it for like six years. One more day and I would have made like $40,000 more,” he said. Southern Methodist University (SMU) finance professor Don Shelly has been watching closely. “I’ve never seen like this in my lifetime and I’ve seen a lot of market cycles,” said Shelly. Social media, he said, was key in allowing momentum to build so quickly. Independent investors communicating on Reddit started purchasing GameStop shares, driving up the price. AMC Theaters, American Airlines, and Bed Bath & Beyond became hot commodities, too. Hedge funds that had bet against the struggling...
    The Big Idea is a series that asks top lawmakers and figures to discuss their moonshot — what’s the one proposal, if politics and polls and even price tag were not an issue, they’d implement to change the country for the better? Republican Sen. Jim Inhofe this week rolled out legislation that would make China "play by the same rules as everyone else," and would protect the United States from intellectual property theft. The bill, titled "Protecting American Innovation and Development Act of 2021," seeks to ensure the "continued strength and leadership" of the U.S. in the research and development of key technologies for future wireless telecommunications standards and infrastructure, by providing additional authority for sanctions against certain foreign entities that pose a threat to the country’s national security. US COUNTER-INTEL CHIEF WARNS BIDEN ADMIN OF CHINA'S MALIGN INFLUENCE: 'ONE OF THE BIGGER CHALLENGES' Inhofe’s office told Fox News that many Chinese companies are selling...
    More states seek federal waivers from standardized tests as Biden’s Education Department extends deadline for requests Why do wombats poop cubes? Scientists may finally have the answer Here are the biggest short squeezes in the stock market, including GameStop and AMC © MarketWatch illustration/iStockphoto DEEP DIVE Short squeezes will remain a big story in the financial-news media until heavily shorted stocks that have been pushed up by individual investors connected through social media come crashing back to earth. The biggest “winners” during this craze have been GameStop, up 1,745% for 2021 through Jan. 27, and AMC Entertainment, which has popped a more modest 839%. There are many others listed, below. There is more than one way to list short squeezes. Before moving to the lists, here are three definitions: Short selling is when an investor borrows shares and immediately sells them, hoping to buy them back...
    Hong Kong (CNN Business)The frenzy over GameStop has inspired amateurs everywhere to shake up stock markets. Now China's massive army of retail investors wants to get in on the action. Talk of the video game retailer's epic share surge has taken over Chinese social media and the eye-popping gains in that stock and others have become the envy of the country's young day traders. They're now calling on each other to band together to emulate their American counterparts in driving up the share prices of struggling companies. "Market makers are trembling in front of retail investors who grouped together," wrote one user on the social media website Weibo. "It will soon be China's turn."Just as Millennials and Gen Zers in the United States have bemoaned the hedge funds and short-sellers that are part of the Wall Street elite, many small investors in China have cried foul over what they see...
    Japan PM says Olympics will unite world in hope When to get a COVID-19 vaccine: A state-by-state guide Opinion: Im one of the 1%. We should support Biden in raising our taxes I expected the wealthy would do well under Donald Trump, but not as grotesquely well as those of us in the top 1% have done. From the day Trump won in 2016 to the day he lost in 2020, the stock markets were up at least $12.7 trillion, which means that the top 1% of the 128.5 million US households -- the 1.28 million that own 51% of the stock market -- could each have gotten richer by an average of around $5 million. © Provided by CNN A new report this week estimated that among billionaires alone, the surging market accounts for a $1.1 trillion increase in wealth since the pandemic began in March....
    (CNN)I expected the wealthy would do well under Donald Trump, but not as grotesquely well as those of us in the top 1% have done. From the day Trump won in 2016 to the day he lost in 2020, the stock markets were up at least $12.7 trillion, which means that the top 1% of the 128.5 million US households -- the 1.28 million that own 51% of the stock market -- could each have gotten richer by an average of around $5 million. John MacIntosh A new report this week estimated that among billionaires alone, the surging market accounts for a $1.1 trillion increase in wealth since the pandemic began in March. This windfall happened during a time when our democracy faced, in Trump, an existential threat, and when millions of Americans were devastated by Covid-19 while we were safely ensconced in second homes doing mostly non-essential jobs....
    Over the last weeks, something fantastic has been happening in the stock market: small-time investors are screwing with hedge funds using the market-manipulation techniques that those funds use all the time. And as GameStop and AMC shares ballooned in price for no reason other than the fact that a bunch of Reddit users with trading apps wanted them to, average Americans reading about this news have paused to think, by the millions: Wait a minute. The stock market is nonsense. The story of GameStop stock’s incredible run is the best thing to happen to financial news since that one guy went to jail for the global financial implosion of 2008, because it has exposed the utter absurdity of the stock market—and at a time when the stock market has gone up and up and up, even as unemployment has shot up and most Americans’ financial well-being is completely decoupled from...
    By: KDKA-TV News Staff WASHINGTON (KDKA) – Lawmakers on both sides of the aisle called the actions of Robinhood unacceptable. That includes Republican Pennsylvania Senator Pat Toomey. “Retail investors should be free to purchase, even highly-speculative stocks, just as hedge funds should be free to short them,” Sen. Toomey said. “All investors should accept the consequences, whether they gain or lose from their decision.” RELATED STORIES: Does GameStop’s Soaring Stock Indicate A Possible Market Bubble? GameStop And The Stock Market: What’s Going On? Young, Online Traders And Investors Put The Shock Into Wall Street With GameStop Stock Price Toomey also added that the new platforms have been great for retail investors who now have a greater opportunity to accumulate wealth. He did, however, warn against regulatory overreaction.
    Days after GameStop soared in the stocks thanks to the 'Wolves of Reddit' and people are still getting their laughs off on social media.   Investors have been on a GameStop buying spree, which not only pushes up the shares but puts pressure on short sellers to make purchases to 'cover' their bets to avoid steeper losses. This is known on Wall Street as a 'short squeeze' and can result in a dizzying rally by forcing short sellers into becoming buyers.  As a result, GameStop surged 18 percent on Monday, another 115 percent Tuesday and had leapt 135 percent Wednesday. That followed a stunning 50 percent jump on Friday.  GameStop stock has rocketed from below $20 earlier this month to close around $350 Wednesday as a volunteer army of investors on social media challenged big institutions who had placed market bets that the stock would fall. The action was even...
    SACRAMENTO (CBS13) – Not everyone knows the owner of the local corner store market, but Calvin Yang made sure they all knew him. Barely five feet tall, Yang had a heart and personality larger than life. “He would do everything for me and he’s gone. I’m so sad,” said his wife, See Xiong. His wife and family are still in shock that he’s gone. A customer found Yang on Tuesday. He’d passed away at his midtown store, DJ’s Market. “He had such a big heart. He cared for everybody and he never asked for anything in return,” said his son Long Yang. His community impact is clear from the flowers, balloons and notes gathering outside his store. “Seeing people come by and drop off flowers. I’ve been hearing people crying. It’s a big hole in the community right now,” said customer Virgil Versoza. “He has saved my butt a lot...
    The White House on Thursday ducked questions about the chaos in the stock market involving GameStop, which has seen its shares skyrocket this week thanks to a group of small investors on Reddit.  Over the last few days, a Reddit group called WallStreetBets that boasts some 4.7 million members has been an online rallying spot for those urging people to buy and hold GameStop shares, punishing short sellers by sending prices soaring.  Robinhood and Interactive Brokers then restricted trading in red-hot GameStop and other stocks that had soared this week. That dealt a blow to the army of retail investors taking on Wall Street professionals and prompted several policymakers to voice their concern.  As the chaos continued to spiral, CNN's Kaitlan Collins was the first to ask about press secretary Jen Psaki about the controversy.  'Given all the volatility surrounding Wall Street and GameStop, what is the Biden administration doing to...
    Climate Point: Biden takes aim at fossil fuels, Canada takes aim at journalists Democrats Prepare to Move on Economic Aid, With or Without the G.O.P. Book value vs. market value: Knowing the difference between these two measures can help investors pick stocks © mediaphotos/Getty Images Book value and market value are two different ways to measure a company's worth. Investors trying to determine whether a stock is a good buy should use them together. mediaphotos/Getty Images Book value and market value are ways to evaluate a company. Book value is based on its balance sheet; market value on its share price. If book value is higher than market value, it suggests an undervalued stock. If the book value is lower, it can mean an overvalued stock. Book value and market value are best used in tandem when making investment decisions. Visit Business Insider's Investing Reference library for more...
    Alleged Dog Fighting Ring Busted, 11 People Arrested Also Face Drug Charges Biden Moves to Expand Health Coverage in Pandemic Economy The GameStop and AMC drama doesn’t stop with the stock market © Getty Images MARKET EXTRA Load Error The bond market is largely out of reach for day traders, unless through a proxy, so it would seem safe from the dynamics that have launched volatility in equities like GameStop Corp. But it’s not, exactly. The stunning ascent this month of GameStop AMC Entertainment Holdings Inc. and other heavily shorted stocks targeted by day traders huddled in online forums in a battle against Wall Street short sellers has been met by lofty moves for the company’s corporate bonds too. While individual investors using Reddit’s WallStreetBets or other online forums still have little direct influence on the broader debt markets, speculative stock-buying can cause real ripple effects. “There is...
    More On: gamestop Creator of WallStreetBets calls GameStop surge a ‘train wreck’ Robinhood to allow ‘limited buys’ of GameStop shares following freeze ‘F–k Robinhood’: Protesters take to Wall Street amid GameStop stock chaos NY AG Letitia James ‘reviewing’ Robinhood over GameStop trade restrictions 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 that turned a penny stock into the next Amazon nearly overnight.  That sounds like a big deal until you realize that bringing the case would be the regulatory equivalent of the Jets winning the Super Bowl.  Possible . . . but highly, highly unlikely.  Sorry for all you good people out there who think there’s an easy fix to the ­craziness.  There...
    US airline execs push back on possibility of domestic COVID-19 testing requirement John Lewis memorial to replace Confederate monument in Georgia An open letter to the GameStop army on Reddit © Spencer Platt/Getty Images BRETT ARENDS'S ROI Load Error If you’re one of the thousands, maybe tens of thousands, who made money this week from the GameStop   ramp, this is for you. First, many congratulations if you just made bank — especially if you cashed in your gains before the stock’s 44% plunge on Thursday. All free money is good, but making it by beating hedge-fund managers at their own game is especially sweet. See: Here are the biggest short squeezes in the stock market — including GameStop and AMC It says something that people on Wall Street, along with various regulators, are huffing and puffing about “market manipulation.” Where were they when billionaire traders were, say,...
    In the House, Rep. Maxine Waters, who chairs the House Financial Services Committee, said she also intended to hold a hearing. “As a first step in reining in these abusive practices, I will convene a hearing to examine the recent activity around GameStop (GME) stock and other impacted stocks with a focus on short selling, online trading platforms, gamification and their systemic impact on our capital markets and retail investors,” she said in a statement.  News of the hearings comes after Robinhood was hit with a class action lawsuit after it restricted users — more than half of whom own GameStop stock — from trading on Thursday. The company said in an update it would resume “limited buys of these securities” beginning Friday.  Separately, Fox Business reported that Robinhood was anticipating an SEC investigation that “involves market manipulation.” “The SEC somehow goes and looks at the Reddit boards and tries...
    VIDEO9:3709:37GameStop stock mania continues, and regulators are monitoring the action — Here's what the experts are watchingTrading Nation The activity in GameStop continued Thursday, and it's caught the eye of regulators. The Securities and Exchange Commission said late Wednesday that it is "actively monitoring" the surge. With regulators starting to take action, many questioned what this week's events mean for the broader market. Seven experts weigh in on what to watch. Billionaire investor and Dallas Mavericks owner Mark Cuban noted how the market may not be that different; it's the demographics that are changing. "The reality is you just have to run your company and do your best. That doesn't change the fundamentals of the company at all. In so many respects, it's window dressing and if you are an owner of American Airlines, you're an owner of GameStop, hopefully prior to all this, hopefully you owned it for a...
    D.C. officials slam proposal to erect permanent fencing around U.S. Capitol Federal Appeals Court Denies Qualified Immunity to Officer Who Tear Gassed Reporters Covering 2014 Ferguson Unrest Robinhood, and its role in the GameStop saga, explained At the center of the GameStop stock trading frenzy is Robinhood, a trading app for regular investors that says it’s out to “democratize finance.” But the growing chaos in the stock market is really testing the limits of that mission. © Gabby Jones/Bloomberg via Getty Images Robinhood got millions of people into stock trading. Now it’s in hot water. Robinhood, which is currently the most downloaded app on both the Apple and Google app stores, was founded in 2013 and launched in 2015. It’s been a game changer in the retail trading space, largely because it allowed for commission-free trading, and others followed suit. Basically, that means when you buy or sell a...
    Hedge funds suffered their worst day in recorded history on the stock market Wednesday, caused in large part by the WallStreetBets (WSB) Reddit users who sent the price of GameStop shares skyrocketing. Hedge funds took cash out of the market at the fastest rate since 2008 on Wednesday, according to Bloomberg. Money managers experienced a “negative alpha,” or below-market return, of 3.1%, the business outlet reported. (RELATED: How A Rabble Of Anonymous Redditors Stuck A Thumb In Wall Street’s Eye) Wow. By one measure, yesterday was the worst day in history for equity hedge funds. https://t.co/DSj72ryYFd pic.twitter.com/gDypRszPfh — Joe Weisenthal (@TheStalwart) January 28, 2021 Short-sellers of GameStop, investors who bet that the price of the stock would go down, had reportedly lost more than $5 billion dollars through Wednesday. Retail investors in the WSB community executed a “short squeeze” on the stock in recent days, meaning they purchased shares...
    Texas governor vows to fight U.S. curbs on oil and gas activity ‘Brazen, entitled, dangerous’: D.C. judge jails man photographed in Pelosi’s office An open letter to the Reddit/ GameStop army © Spencer Platt/Getty Images BRETT ARENDS'S ROI Load Error If you’re one of the thousands, maybe tens of thousands, who made money this week from the GameStop   ramp, this is for you. First, many congratulations if you just made some free money. (Especially if you cashed in your gains before Thursday’s 44% stock plunge). All free money is good, but making it by beating hedge-fund managers at their own game is especially sweet. Read: Here are the biggest short squeezes in the stock market — including GameStop and AMC It says something that people on Wall Street, along with various regulators, are huffing and puffing about ‘market manipulation.’ Where were they when billionaire traders were, say,...