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☆ In About-Face, Wall Street’s Big Donors Warm to Trump
▼ + stars: | 2024-05-15 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

When President Donald J. Trump left office, some of Wall Street’s biggest names, who had taken to him during his first term in the White House, swore they were moving on from him for good. They were fatigued by his leadership style, disappointed by some of his policies and shocked by the U.S. Capitol riot. With Mr. Trump leading in the polls, big financiers on Wall Street, in Silicon Valley and elsewhere are edging into his corner, according to interviews with more than a dozen people who sought anonymity because they didn’t want their personal views to be tied to their employers. In other cases, the willingness to support a return of Mr. Trump reflects a growing dissatisfaction with what many big Wall Street donors see as the White House’s hardening stance against Israel in its war on Gaza. A prominent example of the about-face is Kenneth Griffin, a hedge fund magnate and political megadonor who publicly derided Mr. Trump as a “three-time loser” less than two years ago.

Persons: Donald J, Trump, didn’t, —, Biden, Kenneth Griffin, megadonor Organizations: U.S, Capitol, Israel, Citadel Locations: Wall, Silicon Valley, Gaza

☆ Money or talent? What's actually driving hedge funds to Abu Dhabi and Dubai
▼ + stars: | 2024-05-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Millennium, Brevan Howard, Schonfeld, and ExodusPoint are just a few of the funds that have put roots down in either Abu Dhabi or Dubai. Meanwhile, Bridgewater's Ray Dalio bought a penthouse in Abu Dhabi as he compliments the country's policies. When one US-based hedge fund fundraiser met with Abu Dhabi officials late last year, he didn't expect much to come of it. He lauded everything from the Louvre outpost in Abu Dhabi to the warm weather to the responsiveness from government officials. A Bloomberg story on Abu Dhabi notes that it's fast-tracking country-club admissions for new wealthy immigrants.

Persons: —, Brevan Howard, Schonfeld, Bridgewater's Ray Dalio, Austen Smart, Tighe, Smart, Alan Howard, Greg Coffey, Danny Yong, hoover, Doug Greenig, Morgan, Point72, Steve Cohen, Viking Global's Andreas Halvorsen, keynotes, Howard, Abu Dhabi, Craig Bergstrom, Bobby Jain's, Florin Court's Greenig, Abu, Floring Organizations: Service, United Arab Emirates, titans, Business, Tighe International, Florin Court Capital, Morgan Stanley's, Dubai Financial Services Authority, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Corbin Capital, Abu Dhabi Global, Hong Kong, pats, Bloomberg Locations: Dubai, Abu Dhabi, London, New York, Mumbai, UAE, Asia, Switzerland, It's, Gaza, Iran, Palm, Europe, Cayman Islands, Jersey, Miami, San Franciso, Riyadh, Saudi

GameStop shares rallied more than 40% in premarket trading Monday after "Roaring Kitty," the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years. Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance. Currently, the short position in GameStop shares amounts to more than 24% of all its shares that are freely-available to trade, also known as the float. In response, one Robinhood user filed a class-action lawsuit following the app's decision to restrict GameStop trading on its platform. Another class-action lawsuit brought against Gill alleged that he pretended to be a novice trader despite being a licensed professional.

Persons: Roaring Kitty, Keith Gill, Gill, Capital, Ken Griffin's, Robinhood, Melvin Capital, Paul Dano Organizations: GameStop, Massachusetts Mutual Life Insurance, Ken Griffin's Citadel, Citadel Locations: Reddit

☆ Citadel CEO Ken Griffin says the anti-Israel college campus protests are just 'performative art'
▼ + stars: | 2024-05-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Anti-Israel protesters are just engaging in a form of performance art, says Citadel CEO Ken Griffin. Griffin said he was pausing his donations to Harvard over its approach to on campus antisemitism. AdvertisementCitadel founder and CEO Ken Griffin, 55, isn't a fan of the anti-Israel protesters that have taken over American college campuses. That's just anarchy," Griffin said of the student protesters. Griffin's criticisms of student protesters highlight the huge influence that Corporate America has on higher education.

Persons: Ken Griffin, Griffin, —, we're, That's, Griffin didn't, Harvard didn't, Darren Woods, Kevin O'Leary, O'Leary Organizations: Israel, Citadel, Harvard, Service, Financial Times, Columbia University, UCLA, The New York Times, BI, mater, Harvard University, Harvard Gazette, Senate, IBM, Funds Association Network Miami, Ivy League, CNBC, Fox News Locations: Israel

☆ More companies would move to Miami if there were more private schools, says billionaire Miami convert Barry Sternlicht
▼ + stars: | 2024-05-10 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

More companies would move to Miami if there were more private schools, said Barry Sternlicht. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne hiccup prevents Miami from attracting more money and talent, according to billionaire real estate fund manager and Miami transplant Barry Sternlicht. The city doesn't have enough private schools, he said in an interview on Thursday with Bloomberg Television. This story is available exclusively to Business Insider subscribers.

Persons: Barry Sternlicht, — Organizations: Citadel, Service, Miami, Bloomberg Television, Starwood Capital Group, Business Locations: Miami

☆ How $65 billion Marshall Wace is turning into the hedge funds it's criticized
▼ + stars: | 2024-05-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

There's a split internally at $65 billion Marshall Wace. The 27-year-old London-based hedge fund, founded by Paul Marshall and Ian Wace, has prided itself on its collaborative culture. Multi-strategy mightThe culture shift at Marshall Wace is just the latest ripple effect to come from the vast expansion of power, assets, and clout of the largest multi-strategy hedge funds. For Marshall Wace, that looks like a charge that can be up to 0.75% of the $22.4 billion Eureka fund's value — more than $150 million — on top of the set management fees and variable performance fees the firm already charges. A person close to the firm said that certain people still have access to aggregated positions, but the restriction helps Marshall Wace manage "complexity and confidentiality" as the manager continues to grow.

Persons: Marshall Wace, Paul Marshall, Ian Wace, Marshall, George Soros, It's, Marshall Wace's, You've, Dan Schatz, Ruchit, Jaime Brandwood, Derek Rosenthal, Marshall's Organizations: Business, BNP, Eureka, Citadel, Ruchit Puri Locations: London, Citadel, New York, Singapore, Shanghai, Hong Kong, Eureka

☆ TikTok is taking the US government to court in a showdown of free speech vs. national security
▼ + stars: | 2024-05-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And the knock-on effects extend beyond TikTok, impacting everything from President Joe Biden's reelection campaign to Apple and Tesla . AdvertisementTikTok, Tyler Le/BIThe TikTok-US government fight pits two pillars of American society against each other: free speech and national security. 3 things in businessDeliormanli/Getty, Olivier Verriest/Getty, Andrei Akushevich/Getty, Tyler Le/BIIn other newsAdvertisementWhat's happening todayToday's earnings: Airbnb, Uber, and other companies are reporting .

Persons: —, swiping, Tyler Le, ByteDance, Dan Whateley, Geoff Weiss, Joe Biden's, It'll, TikTok, hasn't, haven't, Fallon, Jane Fraser isn't, Fraser, Piper Sandler, Michael Kantrowitz, Josh Edelson, Isabel Fernandez, Mark Zuckerberg, Zuckerberg, Getty, Olivier Verriest, Andrei Akushevich, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Apple, Chinese Communist Party, Big Tech, Getty, Pujol, Associated Press, Facebook Locations: France, China, Beijing, Citadel, Millennium, AFP, New York, London

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Schonfeld's Asia cohead is leaving the $10 billion firm's fast-growing outpost
▼ + stars: | 2024-05-07 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Eric To is leaving the $10 billion New York-based multi-manager, people close to the firm told Business Insider. He was the cohead of APAC and head of APAC fundamental equity. This story is available exclusively to Business Insider subscribers. A person close to the firm told Business Insider that To's cohead, Chris Antonelli, will take over as the sole head of the Asia business going forward. In the five years To was there, this person noted, Schonfeld's Asia business expanded to Japan and Australia and nearly tripled its head count in the region.

Persons: —, Eric, Sol Kumin's, Chris Antonelli, Ken Organizations: Service, Business, Schonfeld, SAC Capital, Schonfeld's, Citadel Locations: York, Hong Kong, Folger Hill, Asia, Balyasny, Schonfeld's Asia, Japan, Australia, APAC

☆ Watch CNBC’s full interview with Citadel CEO Ken Griffin
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Citadel CEO Ken GriffinCitadel CEO Ken Griffin joins 'Power Lunch' to discuss inflation, deglobalization, and the markets.

Persons: Ken Griffin Organizations: Citadel

☆ Citadel CEO Ken Griffin: The Fed is making the right choice, higher for longer
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCitadel CEO Ken Griffin: The Fed is making the right choice, higher for longerCNBC’s Sara Eisen with Ken Griffin, Citadel CEO, joins 'Power Lunch' to discuss inflation, deglobalization and the markets.

Persons: Ken Griffin, Sara Eisen Organizations: Email, Citadel

☆ Elon Musk and Jeff Bezos hang out with celebrities in Miami during the F1 Grand Prix weekend
▼ + stars: | 2024-05-05 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

The Miami Grand Prix took place this weekend. AdvertisementBillionaires mingled with athletes and celebrities this weekend during the Miami Grand Prix. The third-annual Miami Grand Prix officially kicked off on Friday, with racers like Max Verstappen and Daniel Ricciardo duking it out on the Miami International Autodrome. Alexander Tamargo/Getty ImagesElon Musk also made an appearance during the Miami Grand Prix weekend. Alexander Tamargo/Getty ImagesAlthough the Miami Grand Prix is a spectacle that draws F1 fans from all walks of life, it also helps boost the local economy.

Persons: Jeff Bezos, Elon Musk, —, Max Verstappen, Daniel Ricciardo duking, Tom Brady, Clive Rose, Page, Miami Mayor Francis Suarez, Alex Spiro, Jamie Saltar, Brady isn't, Bezos, Brady, Ken Griffin, Alexander Tamargo, Musk, Ken Griffins, Jared Kushner, Ivanka, Romain Maurice, Ivanka Trump, LeBron James, Patrick Mahomes Organizations: Miami, Prix, Elon, Service, Miami Grand Prix, Miami International, NFL, Sports Illustrated, Miami Mayor, Getty, Express, Citadel, Citadel Securities, Ivanka Trump, Los Angeles Lakers, Kansas City Chiefs, Athletic Locations: SoFlo, Miami, Bezos, Citadel, Chicago, South Florida, Miami , Florida

☆ How Google Cloud is helping quants like Two Sigma work around the shortage of Nvidia's prized AI chips
▼ + stars: | 2024-05-03 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Google Cloud, one of the fund's cloud providers, developed new technologies that drew a full room of spectators at Google Cloud Next. When Google Cloud clients request GPUs through DWS, the platform requires clients to specify the region, the machine type and count of machines, and runtime duration. Knowing how many resources a given client needs allows Google Cloud to provision capacity more granularly, which "unlocks additional capacity," Mateo said. As a cloud provider for many financial firms, Google Cloud benefits from helping its clients run these models because many research platforms are hosted on Google's public cloud. In addition to Two Sigma, Citadel Securities has its research platform on Google Cloud.

Persons: Alex Hays, Hays, Sigma's Hays, Mateo, Dax, They'd, it's, Cook Organizations: Sigma, Google, Wall Street, Nvidia, prioritizes, Citadel Securities Locations: Las Vegas, Cook

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Citadel's stock-pickers lead the way in April — here's how hedge fund competitors fared
▼ + stars: | 2024-05-02 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +1 min

Ken Griffin's $61 billion Citadel is leading multistrat funds in performance this year. The firm's flagship fund returned 2% in April, bringing 2024 gains to 7.8%. Firms such as Walleye, Millennium, and Schonfeld are also off to a strong start this year. Despite equity markets tumbling in April, Ken Griffin's teams of stockpickers helped lead his firm to a 2% return in its $61 billion flagship fund. A person close to Griffin's Citadel told Business Insider that Wellington's year-to-date returns rose to 7.8% following April's gains.

Persons: Ken Griffin's, stockpickers Organizations: Citadel, Walleye, Griffin's Citadel, Business Locations: Miami

☆ China hedge fund Pinpoint is bouncing back in 2024 after years of poor performance
▼ + stars: | 2024-05-02 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Pinpoint Asset Management is a Hong Kong-based hedge fund with offices in Shanghai and Singapore. According to HSBC's Hedge Weekly report, the firm's China fund gained more than 2% through the first two weeks of April to bring its year-to-date returns to just under 8%. The firm's multi-strategy fund was up 1.8% for the month through April 15, to bring its 2024 gains to 6%. The China fund had a run of poor performance given the country's economic slowdown. The performance so far in 2024 has beaten out other funds focused on the region — Hedge Fund Research's China index was up just 0.43% through the end of March.

Persons: —, Wang Qiang Organizations: Service, HSBC's, HSBC, Citadel Locations: Hong Kong, Shanghai, Singapore, China, Asia

☆ An AI-focused ETF from a hedge fund veteran is gaining attention by soaring 60% over the past year
▼ + stars: | 2024-04-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

A hedge fund veteran, having worked at Citadel, Millennium and Tiger Management, Delevska specializes in the industrial sector, communicating with more than 100 companies she covers. Delevska's Spear Alpha ETF (SPRX ), with $70 million in assets under management, has about 26 holdings and almost everything in her portfolio is expected to benefit in some way from AI. SPRX 1Y mountain Spear Alpha ETF Almost 11% in Nvidia The actively managed ETF is up more than 60% in the past 12 months, outpacing the better known Ark Innovation ETF . AI apart, Spear Alpha ETF invests in other themes, like enterprise digitalization, space exploration and decarbonization. Spear Alpha ETF has taken in $54 million in inflows so far in 2024, according to FactSet.

Persons: Ivana Delevska, Delevska, ARKK, Spear, Wood hasn't Organizations: Citadel, Tiger Management, Alpha, Nvidia, First, Spear Alpha Locations: FactSet, outflows

☆ Miami is 'ground zero' for climate risk. People are moving to the area and building there anyway
▼ + stars: | 2024-04-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +20 min

South Pointe Beach in Miami Beach, Florida. Climate risk is "always on our thoughts," said Habibian, 39, who moved to Miami-Dade County about six years ago. Despite that risk, 66% of Miami-Dade County residents said they'd never leave, according to a study published in the journal Climate Risk Management. "We try to be smart about it, try to be proactive as best we can," Arditi said of climate risk. Juxtaposed at left was one of the last remaining patches of mangroves in the urban Miami area, a living memorial to a once-thriving population.

Persons: Greg Iacurci, Daniel Habibian, Harold Wanless, Sonia Brubaker, Saul Martinez, Andrew Rumbach, Rumbach, Joe Raedle, Irma, Al Diaz, they'd, Steven Bustamante, Bustamante, Jeff Greenberg, There's, David Arditi, Arditi, Aria's, Jeff Bezos, Goldman Sachs, Douglas Sacks, Ken Griffin, Brubaker, Biscayne Bay . Miami Worldcenter, Chandan Khanna, Dion Williams, Williams, Dion, Todd Crowl, Crowl, We're, Erik Salna, Chris Baraloto, Rita Teutonico, Amy Knowles, Knowles, it's, City of Miami Beach Greg Iacurci Miami Organizations: Greg Iacurci MIAMI, University of Miami, City, CNBC, Cumming Group, Florida Department of Transportation, Bentley, Bloomberg, Getty, Urban Institute, Organisation for Economic Co, Miami, Volunteers, Florida Keys, Miami Herald, Tribune, Service, Dade, Risk, Yale University's School of, Finance, SEC, Miami Beach, Universal, Group, Aria Development, National Association of Realtors ., Miami Realtors, Amazon, Citadel, Resorts, Bloomberg News, Dade County's, Getty Images, Residences, Pointe Park, Fifth, Afp, Federal Emergency Management Agency, Management, Sunshine, Insurance, Institute, Florida International University Institute of Environment, Hurricanes, University of Pennsylvania, International Hurricane Research, of, Florida International University, City of Miami Beach Locations: Pointe Beach, Miami Beach , Florida, Miami, South Beach, Dade, City of Miami, Dade County, New York, Fort Lauderdale, West Palm, South Florida, Florida, Tampa, St . Petersburg, Miami , Florida, Southeast Florida, Miami Beach, City, Aria's Miami, U.S, California , New York, New Jersey, America, Caribbean, New York City, Biscayne Bay . Miami, Pointe, It's, Surfside, . Florida, Biscayne Bay, Miami's, Bermuda, Kampong, Coconut Grove, Brittany Bay, South Pointe, City of, Brittany Bay Park

☆ Trump Media has gotten Congress involved in its crusade against short sellers
▼ + stars: | 2024-04-24 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Trump Media CEO Devin Nunes wrote a letter to lawmakers asking them to look into "unlawful manipulation" of the firm's stock. Citadel Securities last week called Nunes a "loser" for blaming shorts for the stock's decline. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTrump Media stock has been on a roller coaster ride since its IPO at the end of last month, hitting $35.05 a share Wednesday, up almost 8% after a 54% drop from its peak.

Persons: Devin Nunes, Nunes, there's, —, Donald Trump Organizations: Trump Media, Citadel Securities, Service, Social, —, Securities, VIRTU, Jane, Capital, Nasdaq, Trump Locations: VIRTU Americas

☆ Truth Social owner Trump Media asks Congress to investigate ‘troubling’ market manipulation claims
▼ + stars: | 2024-04-24 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Trump Media & Technology Group is asking Congress to investigate its suspicions that illegal activity is driving down its share price. Nunes, himself a former Republican congressman from California, pointed to how Trump Media has been among the most expensive stocks to borrow. Nunes suggested there are signs of “naked” short selling, which involves someone selling shares they don’t own or have not borrowed. Jay Ritter, a finance professor at the University of Florida, said there are more obvious explanations for why some traders are betting against Trump Media. Last week, Nunes wrote a letter to Nasdaq, where Trump Media shares trade, alerting the exchange to concerns about market manipulation.

Persons: New York CNN —, Devin Nunes, ” Nunes, Nunes, ” Jonathan Macey, Jay Ritter, ”, Jay Ritter, Ritter, Jane Street, Ken Griffin, “ Devin Nunes, ‘ Organizations: New, New York CNN, New York CNN — Trump Media & Technology Group, Truth Social, Trump Media, Financial Services, Republican, Traders, Yale Law School, CNN, University of Florida, ” Trump Media, Trump, Citadel Securities, Virtu, Jane, Capital, Citadel, Nasdaq, CNBC Locations: New York, California, Virtu Americas, America

☆ Donald Trump will get $1.3 billion in Trump Media bonus shares if the stock doesn't crash today
▼ + stars: | 2024-04-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Trump is set to get millions of extra shares if Trump Media trades above $17.50 through Tuesday's session. That would see the former president awarded $1.3 billion in extra stock. AdvertisementTrump Media & Technology just has to manage not to crash Tuesday for former President Donald Trump to be awarded an extra $1.3 billion worth of stock in the Truth Social parent company. When Trump Media made its market debut in late March, the stock peaked sharply before crashing nearly 40% in a matter of weeks. Last week, Trump Media CEO Devin Nunes lashed out at short sellers for helping to tank the stock.

Persons: Trump, —, Donald Trump, Devin Nunes, Nunes Organizations: Trump Media, Service, Trump Media & Technology, Social, . Company, Trump, Bloomberg, Truth, Citadel Securities

☆ The new 62-story tower set to transform New York City’s skyline
▼ + stars: | 2024-04-20 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

And now, a multi-billion-dollar tower featuring floor-to-ceiling glass will add another dimension to the cityscape, according to new details unveiled by New York City Mayor Eric Adams this week. Stretching up 62 stories, a planned office tower at 350 Park Avenue will provide space for more than 6,000 jobs, plus 1.8 million square feet of commercial office space, according to a press release. White columns will frame a new public concourse at the base of the new building on Park Avenue, complete with green space, seating and art displays, images show. Building this new office space comes at a fraught time for the commercial real estate market as businesses struggle to entice workers back to the office after years of working from home. The project will begin the city’s public review process early next year and the tower is expected to be completed by 2032, according to the release.

Persons: Eric Adams, Kenneth Griffin, Rudin, White, Foster, Partners Adams, “, ”, Adams, Meera Joshi, ” Joshi Organizations: CNN, Chrysler, Trade Center, Empire, New York City, Vornado Realty Trust, Citadel, Citadel Securities, Partners, Midtown, Rockefeller Center, St, Grand Central, Midtown —, Central Park Locations: New York, Midtown Manhattan, Patrick’s, York, Fifth, Central

☆ Trump Media CEO says he’ll do ‘whatever it takes’ to defend DJT investors from short sellers
▼ + stars: | 2024-04-20 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Trump Media CEO Devin Nunes on Friday said he would "do whatever it takes" to defend the company's retail investors from possible illegal short selling of its shares. Delivering remarks in Scranton, Pennsylvania, on Tuesday, Biden took a dig at Donald Trump, his November Republican election opponent, as shares of Trump Media tanked from its more than $70 debut price. Trump Media's stock, trading under the ticker DJT , rallied toward the end of this week, but has plummeted starkly from its peak. It involves a trader selling shares that have not been borrowed or arranged to be borrowed. Nunes said that Trump Media has appeared on the Nasdaq's "Reg SHO threshold list," which could indicate illegal trading behavior.

Persons: Devin Nunes, Nunes, Joe Biden, Biden, Donald Trump, Trump, DJT, SHO, Ken Griffin Organizations: Truth, Conservative Political, Trump Media, Trump, Republican, Trump Media tanked, Nasdaq, Securities and Exchange, CNBC, SEC, Citadel Securities, GOP Locations: National Harbor , Maryland, Scranton , Pennsylvania, California

☆ Citadel Securities blasts Trump Media CEO Devin Nunes over DJT short selling letter
▼ + stars: | 2024-04-19 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Al Drago | Bloomberg | Getty ImagesCitadel Securities ripped Trump Media CEO Devin Nunes on Friday for a letter he sent the Nasdaq Stock Market which mentioned Citadel Securities and other major market companies after warning of possible illegal short sale trading in DJT shares. "Devin Nunes is the proverbial loser who tries to blame 'naked short selling' for his falling stock price," said a spokesperson for Citadel Securities. Citadel Securities' founder and non-executive chairman Ken Griffin is a major donor to Republican candidates — among them the former GOP congressman Nunes. "If he [Nunes] worked for Citadel Securities, we would fire him, as ability and integrity are at the center of everything we do," the spokesperson added. "Data made available to us indicate that just four market participants have been responsible for over 60% of the extraordinary volume of DJT shares traded: Citadel Securities, VIRTU Americas, G1 Execution Services, and Jane Street Capital," Nunes wrote.

Persons: Devin Nunes, Al Drago, Ken Griffin, Nunes, Donald Trump, Pavlo Gonchar, Adena Friedman, Friedman Organizations: Truth, Conservative Political, Bloomberg, Getty, Citadel Securities, Trump Media, Nasdaq, Securities, GOP, Republican, CNBC, Lightrocket, Trump, Trump Media & Technology Group Corp, VIRTU, Jane Street Locations: National Harbor , Maryland, VIRTU Americas

☆ Why a Viking Global portfolio manager is worried about a multi-strat meltdown, plus his favorite European luxury stock
▼ + stars: | 2024-04-19 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCompared to some of its Tiger Cub peers, $48 billion Viking Global's highs and lows have been more muted. This story is available exclusively to Business Insider subscribers. "If the stock went up 25% tomorrow, we would probably sell it absent any other fundamental change in the business." AdvertisementThe firm's flagship long-short fund was up 5.8% in the first quarter, a person close to the firm told Business Insider, and its long-only fund returned 10.1%.

Persons: —, Justin Walsh, Walsh, Hermes Organizations: Service, Tiger Cub, Tiger, Business, Harvard Business School Investment, Citadel, Business Insider, Cartier Locations: Stamford, Swiss

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