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Andrew Left just placed a fresh bet against GameStop shares amid its latest rally. AdvertisementAndrew Left, the famed short-seller who lost big betting against Gamestop's stunning rally in 2021, is back to shorting the meme stock amid its latest surge. Left, who also shorted Hertz and Tesla competitor Nikola in 2020, told Bloomberg he placed a bet against Gamestop stock on Monday. His latest short comes amid a surge in retail interest in GameStop. Left's firm, Citron Research, stopped publishing notes on its short bets in January 2021, around the time GameStop shares notched their all-time high.
Persons: Andrew Left, , Nikola, Keith Gill, Kitty, Gill Organizations: GameStop, Service, Gamestop's, Bloomberg, Gamestop, Citron Research
Elon Musk is facing backlash from business leaders after he appeared to endorse an antisemitic conspiracy theory. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementElon Musk is facing backlash from the business community after he appeared to endorse an antisemitic post on X. AdvertisementAnother Tesla bull, Gary Black, whose Future Fund invests in Tesla, similarly reported that clients had reached out to him regarding Musk's comments. While the backlash escalates, Musk's chosen X CEO Linda Yaccarino is left to clean up the growing mess.
Persons: Elon Musk, , Elon, Musk, Musk's, Dustin Moskowitz, Marc Bodnick, Andrew Left, Tesla, Ross Gerber, I've, Gary Black, Kristin Hull, Nia, demote, Bravo —, Linda Yaccarino Organizations: IBM, Service, Buffalo, Elon, SpaceX, BMW, CNBC, EV, Tesla, Nia Impact, Employees, Media, Apple, Oracle Locations: Pittsburgh
Elon Musk's response to an antisemitic post has caused an uproar among some Tesla fans. Some Tesla owners and investors said they're looking to sell their cars and their stock over it. AdvertisementSome Tesla owners are sounding off after Elon Musk's latest online outburst that voiced support for an antisemitic tweet. AdvertisementAnother "livid and appalled" Tesla owner told BI they've already spoken to their financial advisor about selling their Tesla stock after over 10 years volunteering and investing in the company. AdvertisementAs a former Musk critic turned supporter and Tesla owner, I once admired Elon Musk for his anti-establishment stance, particularly as a father of a son with Asperger's.
Persons: Elon, Musk, , Elon Musk's, Tesla, Peter, Arthur Kulak, Ross Gerber, they've, Citron, Andrew Left, Elon Musk, Asperger's, who's Organizations: Service, Business, Tesla, Citron Research Locations: Vermont, Reddit
Feb 16 (Reuters) - Citron Research said on Thursday Etsy Inc (ETSY.O) has become one of the largest platforms in the world for counterfeit goods, sending the e-commerce firm's shares down about 6%. Citron Research, which cemented its reputation in the research industry by calling out poor performers and betting against their stock, said the percentage of counterfeit goods on the platform had become too large and Etsy could no longer defend it as a small percentage of revenue. The research firm alleged that Etsy has allowed sellers on the platform to buy "ad words" of the brands and then labeled many of them as trusted websites. In November, the e-commerce platform posted a third-quarter loss for the first time in eight quarters, hurt by higher shipping costs and a strong dollar. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
It is rare for investors to take short positions in securities of Indian companies. Securities rules in India also make it hard to quietly build short positions. Institutional investors are obliged to disclose their short positions upfront and there are other restrictions and registration requirements on foreign investors. In Adani, for example, Hindenburg held the short positions through U.S.-traded bonds and non-Indian-traded derivatives. China's strict investment rules make it all but impossible to take short positions in domestic-listed Chinese stocks from overseas.
[1/2] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. On Wednesday, a $2.5 billion sale of shares by one of its companies Adani Enterprises ADEL.NS was called off. Adani Group and the stock market regulator the Securities and Exchange Board of India (SEBI) did not respond to a request for comment. Cracking the code of how Hindenburg did the trade could lead to more short sellers taking positions against Indian companies, which have been rare, analysts said. But several bankers familiar with trading in Indian securities said the more profitable piece of the short seller’s bet would likely lie in the derivative trades it had placed.
Rich Fury/GettyDear Readers,A strange dynamic is afoot in the stock market. The institutional heavyweights on Wall Street are being beaten at their own game by upstart day-traders and retail investors — and it's not been particularly close. Peter Cecchini, the former global chief market strategist at Cantor Fitzgerald, also recently weighed in on the retail-investor phenomenon. Put simply, Main Street is putting Wall Street to shame since late March. — Peter Cecchini, former global chief market strategist at Cantor Fitzgerald, commenting on Barstool Sports founder Dave Portnoy's irreverent day-trading exploits
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