Citadel to Redeem $500 Million From Melvin Capital

Melvin, a hedge fund that had bet that GameStop’s share price would fall, received a $2 billion infusion from Citadel after the stock skyrocketed.

#citadel-investment-group, #cohen-steven-a, #gamestop-corporation, #griffin-kenneth-c, #hedge-funds, #melvin-capital-management-lp, #plotkin-gabriel, #point72-asset-management-lp, #short-selling, #stocks-and-bonds

He’s a Dogecoin Millionaire. And He’s Not Selling.

Glauber Contessoto went looking for something that could change his fortunes overnight. He found it in a joke cryptocurrency.

#content-type-personal-profile, #contessoto-glauber, #credit-and-debt, #dogecoin-project, #gamestop-corporation, #reddit-inc, #social-media, #stocks-and-bonds, #virtual-currency

Who Wins in a Meme Stock World?

Jannick Malling, Public’s co-C.E.O., weighs the risks and rewards of the retail trading boom.

#gamestop-corporation, #malling-jannick, #mobile-applications, #robinhood-financial-llc, #stocks-and-bonds, #twitter

S.E.C. Chair Gensler Emphasizes Transparency in Markets

In a hearing focused on the frenzied trading of GameStop stock, the new S.E.C. chairman suggests more disclosure is needed.

#archegos-capital-management-llc, #banking-and-financial-institutions, #gamestop-corporation, #gensler-gary-s, #house-committee-on-financial-services, #house-financial-services-committee, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #securities-and-commodities-violations, #securities-and-exchange-commission, #stocks-and-bonds

Meme Stocks and Archegos: Fed Calls Out Financial Weak Spots

The Federal Reserve painted a picture of a generally stable financial system, but one bubbling with risk-taking that merits attention.

#archegos-capital-management-llc, #federal-reserve-system, #gamestop-corporation, #stocks-and-bonds, #united-states-economy

The GameStop Craze Was Mostly Just Crazy

The congressional hearing about the “meme stock” frenzy shows it was definitely bizarre, but maybe not as meaningful as we desire.

#banking-and-financial-institutions, #computer-and-video-games, #gamestop-corporation, #short-selling, #united-states-politics-and-government

The Boredom Economy

The pandemic is terrible. It can also be tedious. And that tedium is shaping what people buy and how productive they are.

#boredom, #gamestop-corporation, #robinhood-financial-llc, #shopping-and-retail, #united-states-economy

In GameStop Saga, Robinhood Is Cast as the Villain

Lawmakers at a congressional hearing kept coming back to the chief of the stock-trading app with pointed questions and a key argument: “Something very wrong happened here.”

#banking-and-financial-institutions, #citadel-investment-group, #computer-and-video-games, #gamestop-corporation, #house-financial-services-committee, #house-of-representatives, #melvin-capital-management-lp, #robinhood-financial-llc, #stocks-and-bonds, #tenev-vladimir, #united-states-politics-and-government, #waters-maxine

A Shadowy but Powerful Wall St. Firm Has Its Moment in Washington

Citadel and its sister business, Citadel Securities, were all over the GameStop debacle. Its founder will face sharp questions on Thursday.

#citadel-investment-group, #gamestop-corporation, #griffin-kenneth-c, #hedge-funds, #house-financial-services-committee, #short-selling

Reddit’s ‘Roaring Kitty’ Will Speak at GameStop Hearing

The trader who pumped up the stock on the internet will appear next week with the leaders of the Robinhood app and hedge funds that lost big during the frenzy.

#citadel-investment-group, #gamestop-corporation, #gill-keith-1986, #hedge-funds, #house-committee-on-financial-services, #huffman-steve-1983, #melvin-capital-management-lp, #reddit-inc, #robinhood-financial-llc, #short-selling, #tenev-vladimir

Do Fed Policies Fuel Bubbles? Some See GameStop as a Red Flag

Analysts warn that low-interest rates are promoting speculative bubbles. The Fed itself has downplayed the possibility that it’s behind asset prices.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #federal-reserve-system, #gamestop-corporation, #interest-rates, #powell-jerome-h, #reddit-inc, #stocks-and-bonds, #united-states-economy

Reddit’s 5-Second Ad Was an Unlikely Super Bowl Winner

Other companies spent millions on ambitious commercials made for advertising’s biggest day. Reddit’s blip of an ad, made in under a week, connected.

#advertising-and-marketing, #gamestop-corporation, #online-advertising, #r-ga, #reddit-inc, #social-media, #stocks-and-bonds, #super-bowl, #television

Wall Street’s Most Reviled Investors Worry About Their Fate

Short sellers — self-described financial detectives who make money when companies fail — were already worried about their success and safety. Then GameStop happened.

#enron-corp, #gamestop-corporation, #hedge-funds, #point72-asset-management-lp, #reddit-inc, #regulation-and-deregulation-of-industry, #securities-and-commodities-violations, #securities-and-exchange-commission, #short-selling, #social-media, #stocks-and-bonds

The Hopes That Rose and Fell With GameStop

Fueled by amateur traders and online enthusiasm, the struggling retailer’s shares took investors on a ride like no other. For them, it ended in different ways, including apathy, defiance and regret.

#amc-entertainment-holding-inc, #computers-and-the-internet, #gamestop-corporation, #hedge-funds, #reddit-inc, #stocks-and-bonds

Quest for Hollywood Fame Splits Redditors at Heart of Market Frenzy

The moderators of the Reddit message board WallStreetBets battled over movie deals after their sudden fame with the GameStop mania.

#computers-and-the-internet, #gamestop-corporation, #movies, #reddit-inc, #social-media, #stocks-and-bonds, #wallstreetbets

Pumps and Dumps and Chumps

Please, stop falling for fake populism.

#computer-and-video-games, #gamestop-corporation, #hedge-funds, #reddit-inc, #short-selling, #social-media, #stocks-and-bonds

How to Win at the Stock Market by Being Lazy

The drama of GameStop is misleading; the surer path to wealth is extremely boring.

#content-type-service, #gamestop-corporation, #mutual-funds, #personal-finances, #savings, #stocks-and-bonds, #vanguard-group-inc

Are GameStop’s ‘Degenerates’ Just Getting Started?

They may have lost their bet. But they haven’t lost their political power.

#banking-and-financial-institutions, #gamestop-corporation, #gill-keith-1986, #hedge-funds, #reddit-inc, #stocks-and-bonds

Why GameStop Reminds Mark Cuban of the ’90s

The billionaire says the current stock market is reminiscent of the first dot-com boom. “Everybody’s a genius in a bull market — until they’re not.”

#cuba, #cuban-mark, #gamestop-corporation, #icahn-carl-c, #reddit-inc, #shark-tank-tv-program, #stocks-and-bonds, #yahoo-inc

A GameStop Evangelist’s Videos Draw a Regulator’s Attention

Keith Gill was an early endorser of GameStop on his YouTube channel. But a regulator in Massachusetts wants to know about his day job.

#gamestop-corporation, #gill-keith-1986, #massachusetts-mutual-life-insurance-co, #regulation-and-deregulation-of-industry, #securities-and-commodities-violations, #stocks-and-bonds

A GameStop Ringleader’s Videos Draw a Regulator’s Attention

Keith Gill was an early endorser of GameStop on his YouTube channel. But a regulator in Massachusetts wants to know about his day job.

#gamestop-corporation, #gill-keith-1986, #massachusetts-mutual-life-insurance-co, #regulation-and-deregulation-of-industry, #securities-and-commodities-violations, #stocks-and-bonds

Can We Please Stop Talking About Stocks, Please?

The stock market isn’t the economy, but that’s hard to remember in a bubble.

#dow-jones-stock-average, #gamestop-corporation, #income-inequality, #nasdaq-composite-index, #reddit-inc, #social-media, #stocks-and-bonds, #united-states-economy

Plunging GameStop Shares Test the Will of Investors to Stick With the Ride

After a crazy run-up, the price dropped 72 percent over two days, putting it just 18 percent higher than it was at the start of last week.

#cuban-mark, #gamestop-corporation, #hedge-funds, #stocks-and-bonds

Robinhood’s C.E.O., Vlad Tenev, Is in the Hot Seat

Vlad Tenev has incited the fury of the trading app’s fans amid a stock market frenzy. His lack of preparedness on nuts-and-bolts issues was part of a pattern, former employees and analysts said.

#banking-and-financial-institutions, #bhatt-baiju, #computer-and-video-games, #computers-and-the-internet, #customer-relations, #financial-brokers, #gamestop-corporation, #millennial-generation, #mobile-applications, #robinhood-financial-llc, #social-media, #start-ups, #stocks-and-bonds, #tenev-vladimir

Here’s Six Ideas to Fix the Market

Six ideas for making the markets more fair and trustworthy.

#financial-brokers, #gamestop-corporation, #robinhood-financial-llc, #stocks-and-bonds

Robinhood, Under the Gun, Raises $2.4 Billion

The high volume of trading by its customers, many of them egged on by social media, has put a strain on the company’s balance sheet.

#banking-and-financial-institutions, #depository-trust-and-clearing-corporation, #fidelity-investments, #gamestop-corporation, #hedge-funds, #sequoia-capital, #stocks-and-bonds, #tenev-vladimir, #venture-capital

Biden’s Covid Relief Plan Could Help End the GameStop Frenzy

We can’t beat Wall Street at its own zero-sum game. But we can change the rules.

#banking-and-financial-institutions, #biden-joseph-r-jr, #citadel-investment-group, #financial-brokers, #gamestop-corporation, #united-states-economy

What Is GameStop, the Company, Really Worth? Does It Matter?

The frenzy for the troubled retailer’s stock has been a headscratcher for the analysts who try to determine a company’s value.

#company-reports, #computer-and-video-games, #computers-and-the-internet, #coronavirus-2019-ncov, #e-commerce, #gamestop-corporation, #prices-fares-fees-and-rates, #shopping-and-retail, #short-selling, #stocks-and-bonds, #united-states

Why Tackling Gamestop’s Wild Stock Rise Will be a Challenge for Gensler

There is broad agreement that the capital markets have been distorted but less consensus on what, if anything, the S.E.C. should do about it.

#banking-and-financial-institutions, #commodity-futures-trading-commission, #futures-and-options-trading, #gamestop-corporation, #gensler-gary-s, #hedge-funds, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #securities-and-exchange-commission, #stocks-and-bonds

The GameStop Rebellion

What began as a story about Reddit versus Wall Street has since revealed itself to be something larger. We have an explanation of what happened and what it means.

#computer-and-video-games, #computers-and-the-internet, #gamestop-corporation, #hedge-funds, #reddit-inc, #shopping-and-retail, #social-media, #stocks-and-bonds

Reddit C.E.O. on GameStop and the Forum Shaking Up Wall Street

Steve Huffman on the subreddit causing chaos on Wall Street.

#gamestop-corporation, #huffman-steve-1983, #reddit-inc, #stocks-and-bonds

Gensler Faces Big Challenge in Tackling GameStop’s Wild Ride

There is broad agreement that the capital markets have been distorted but less consensus on what, if anything, the S.E.C. should do about it.

#banking-and-financial-institutions, #commodity-futures-trading-commission, #content-type-service, #futures-and-options-trading, #gamestop-corporation, #gensler-gary-s, #hedge-funds, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #securities-and-exchange-commission, #stocks-and-bonds

Melvin Capital, Squeezed by Its Bets Against GameStop, Lost 53 Percent in January

A principal reason for the hit to Melvin Capital’s monthly performance were the massive losses the firm suffered when small investors bid up the stock of GameStop.

#citadel-investment-group, #cohen-steven-a, #gamestop-corporation, #hedge-funds, #point72-asset-management-lp, #stocks-and-bonds

Lawmakers Look at GameStop Furor and See a Populist Issue to Seize

Ted Cruz. Alexandria Ocasio-Cortez. The rush by both parties to side with young traders disrupting the markets reflects the broad recognition of the impulses driving American politics.

#banking-and-financial-institutions, #cruz-ted, #democratic-party, #fortenberry-jeffrey-l-1960, #gamestop-corporation, #gingrich-newt, #khanna-ro, #ocasio-cortez-alexandria, #politics-and-government, #reddit-inc, #regulation-and-deregulation-of-industry, #republican-party, #robinhood-financial-llc, #united-states-economy, #united-states-politics-and-government

A 10-Year-Old GameStop Investor Cashed In. His Return? Over 5,000%

Jaydyn Carr of San Antonio made $3,200 on shares from GameStop this week that his mother bought him in 2019 for about $60.

#gamestop-corporation, #personal-finances, #shopping-and-retail, #stocks-and-bonds

You Made Money on GameStop. Here’s What You Need to Know About Taxes.

Some investors may have notched tens of thousands of dollars in profits. Depending on when they sell the stock, they may owe hefty capital gains taxes.

#capital-gains-tax, #federal-taxes-us, #gamestop-corporation, #income-tax, #personal-finances, #robinhood-financial-llc, #stocks-and-bonds, #tax-preparers-and-preparation

The Silicon Valley Start-Up That Caused Wall Street Chaos

Robinhood pitched itself to investors as the antithesis of Wall Street. It didn’t say that it also entirely relies on Wall Street. This past week, the two realities collided.

#banking-and-financial-institutions, #charles-schwab-corporation, #e-trade-financial-corporation, #fidelity-investments, #financial-brokers, #futures-and-options-trading, #gamestop-corporation, #jpmorgan-chasecompany, #mobile-applications, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #securities-and-exchange-commission, #silicon-valley-calif, #stocks-and-bonds, #td-ameritrade-holding-corp, #venture-capital

Everything’s a Joke Until It’s Not

Reddit communities grow powerful in plain sight. Why do they keep taking the world by surprise?

#4chan, #finances, #gamestop-corporation, #reddit-inc, #stocks-and-bonds

The Stock Traders of Reddit and TikTok

They are young, they are fearless and they are forcing everyone to pay attention.

#financial-brokers, #gamestop-corporation, #generation-z, #reddit-inc, #robinhood-financial-llc, #social-media, #stocks-and-bonds

Elon Musk, GameStop and the C.E.O. as Internet Troll

The billionaire Mr. Musk has inserted himself into the confounding stock market drama and solidified his role as the ultimate insider outsider.

#content-type-personal-profile, #gamestop-corporation, #high-net-worth-individuals, #musk-elon, #reddit-inc, #short-selling, #social-media, #stocks-and-bonds, #tesla-motors-inc, #twitter

GameStop and Investing for the Long Run

Signs of irrational exuberance abound. Stay sober and invest for the long run, our columnist says.

#banking-and-financial-institutions, #blockbuster-inc, #charles-schwab-corporation, #facebook-inc, #financial-brokers, #gamestop-corporation, #hedge-funds, #long-term-capital-management-lp, #stocks-and-bonds

Robinhood Faces a Cash Drain and Angry Customers

The online broker raised $1 billion to prop itself up. Overcoming customer anger may be harder.

#american-airlines, #corporate-social-responsibility, #depository-trust-and-clearing-corporation, #facebook-inc, #financial-brokers, #gamestop-corporation, #oversight-board-facebook, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #social-media, #world-economic-forum

The ‘Roaring Kitty’ Rally: How a Reddit User and His Friends Roiled the Markets

A Massachusetts man who goes by “Roaring Kitty” on social media helped fuel the frenzy around GameStop. His $53,000 investment in the company briefly reached $48 million in value.

#computer-and-video-games, #computers-and-the-internet, #gamestop-corporation, #hedge-funds, #reddit-inc, #robinhood-financial-llc, #short-selling, #social-media, #stocks-and-bonds, #video-recordings-downloads-and-streaming

GameStop Rally Stalls as Robinhood and Others Set Limits

Small investors accused one trading platform of being “dishonest” and “pandering to the elite” as new restrictions on some stock trades spurred a calmer day in the markets.

#banking-and-financial-institutions, #computers-and-the-internet, #financial-brokers, #gamestop-corporation, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #stocks-and-bonds

GameStop, Health Care, GM: Your Thursday Evening Briefing

Here’s what you need to know at the end of the day.

#ahmed-riz, #automobiles, #centers-for-disease-control-and-prevention, #coronavirus-2019-ncov, #emhoff-ella, #gamestop-corporation, #general-motors, #gorman-amanda, #united-states-politics-and-government, #vaccination-and-immunization

Taking GameStop ‘To the Moon’: Reddit vs. the Elites

This insurgency against the hedge funds isn’t an unequivocal populist win. For some, the point and the money already made is victory enough.

#crowdsourcing-internet, #finances, #gamestop-corporation, #united-states-politics-and-government

The GameStop Reckoning Was a Long Time Coming

This week, gleeful online hordes turned the stock market upside down. This shouldn’t come as a surprise.

#banking-and-financial-institutions, #computers-and-the-internet, #demonstrations-protests-and-riots, #financial-brokers, #gamestop-corporation, #reddit-inc, #robinhood-financial-llc, #stocks-and-bonds

How GameStop’s Reddit-Fueled Rise May End

Let’s have an honest conversation about GameStop.

#boards-of-directors, #california-state-teachersretirement-system-calstrs, #corporate-social-responsibility, #d-e-shawco, #exxon-mobil-corp, #gamestop-corporation, #oil-petroleum-and-gasoline, #reddit-inc

4 Things to Know About the GameStop Insanity

It’s been a weird few days in the stock market, where a video game retailer has suddenly become the center of attention.

#citron-research, #financial-brokers, #gamestop-corporation, #reddit-inc, #stocks-and-bonds

GameStop Stock Trading: 4 Things to Know

It’s been a weird few days in the stock market, where a video game retailer has suddenly become the center of attention.

#amc-entertainment-holding-inc, #citron-research, #e-trade-financial-corporation, #financial-brokers, #gamestop-corporation, #reddit-inc, #stocks-and-bonds