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Capital - 3 Keith Gill - 3 Melvin Capital - 3 CNN Business ’ - 2 ” - 2 Kitty - 2 Gill - 2 David - 2
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GameStop - 6 AMC - 3 CNN Business - 2 New York CNN - 2 S3 Partners - 2 Elon - 1 Citron Research - 1 Wall - 1

Search resuls for: "Melvin Capital"


11 mentions found


☆ How bad bets on meme stocks led to a $1 billion wipeout
  + stars: | 2024-05-15 | by ( Allison Morrow | ) edition.cnn.com   time to read: +3 min
New York CNN —The only bet riskier than buying meme stocks like GameStop may be cheering for their decline. That’s the lesson Wall Street’s short-sellers are learning the hard way this week. See here: For the first four months of the year, GameStop short-sellers — investors who bet on a stock’s decline — were sitting on $392 million in gains, up nearly 50%. To understand the meme stock phenomenon, it helps to understand a bit of the tribalism underpinning it. Today’s GameStop shorts aren’t likely to hang on and repeat the mistakes of their Melvin Capital brethren.
Persons: CNN Business ’, Capital, RoaringKitty —, GameStop’s, Ihor Dusaniwsky, ” Organizations: CNN Business, New York CNN, GameStop, S3 Partners, Elon, Citron Research, Wall, Partners Locations: New York
☆ Roaring Kitty's tweet sent GameStop spiking. The company's cofounder shares his outlook on where the stock is headed and advises hedge funds on how to navigate it.
  + stars: | 2024-05-15 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +5 min
There's no sense in this, said Gary Kusin, the cofounder of Babbage, the company to which GameStop traces its roots. Imagine if Taylor Swift's brand or company went public, and all the Swifties bought stock, the shares would be overvalued. What Wall Street doesn't understand is that there are Swifties in the video game industry. "If I worked on Wall Street, I would find some other stocks and some other places to go; I wouldn't touch GameStop." And I believe that's exactly what's ailing Wall Street right now," Kusin said.
Persons: Michael Burry, Keith Gill, Gary Kusin, Babbage, Kusin, It's, Taylor, Swifties, Shorting, doesn't, Citron, Brooks, Macy's Organizations: GameStop, Melvin Capital Management, Technology, S3 Partners
☆ Goldman's 'short basket' is jumping as hedge funds rush to cover positions during meme rally revival. Here are the stocks in it
  + stars: | 2024-05-14 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
As meme stocks once again dominate discourse on Wall Street, a Goldman Sachs basket is benefiting as hedge funds try to cover themselves. Goldman's "short basket," known officially as the GS Most Short Rolling Index, has jumped along with the resurgence of the meme-stock craze seen this week. When the original meme-stock mania took place, hedge funds rushed to cover their short positions as everyday investors squeezed them. GameStop short sellers lost almost $1 billion in Monday's rally. That experience even led to the demise of some hedge funds like Melvin Capital .
Persons: Goldman Sachs, Melvin Capital Organizations: GameStop, AMC, Melvin, LSEG, Wayfair
☆ Trump Media has reawakened the meme stock monster as GameStop surges
  + stars: | 2024-05-14 | by ( Allison Morrow | ) edition.cnn.com   time to read: +4 min
New York CNN —We in the financial press tend to talk about the meme stock revolution (or craze, or frenzy, or mass delusion) in the past tense. Another meme stock, Trump Media and Technology Group, the Donald Trump-owned media company that controls Truth Social, brought back memories of the 2021 GameStop bonanza. With Trump Media, Trump supporters and other speculative traders pumped up the stock not for its (extraordinarily lousy) fundamentals, but more as a vote of support for the former president’s campaign and even a barometer of his winning chances. We’re not quite as exuberant today as we were then, but we’re still within spitting distance of all-time highs on major stock indices, Sosnick notes. In some ways, the arrival in the spring of Donald Trump’s media company reawakened the meme stock monster.
Persons: CNN Business ’, Wall, Keith Gill, Kitty, DeepF, Steve Sosnick, who’ve, Gill, Donald Trump, Donald Trump’s, DJT, ” Sosnick, Michael Pachter, David, Melvin Capital, Gabe Plotkin’s, ”, Plotkin, “ Organizations: CNN Business, New York CNN, GameStop, Interactive Brokers, Trump Media, Technology Group, AMC, Trump, Wedbush Securities Locations: New York
☆ GameStop shares jump 40% as trader 'Roaring Kitty' who drove meme craze posts online again
  + stars: | 2024-05-13 | by ( Yun Li Fred Imbert | Yun Li | Fred Imbert | ) www.cnbc.com   time to read: +2 min
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
☆ The meme stock mania is now a movie. Here's what has happened to GameStop and AMC
  + stars: | 2023-09-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +6 min
There's Anthony Ramos' Marcus, a GameStop cashier, being lectured by his parents that this stock trading thing isn't real. Reddit versus Wall StreetMany social media traders discussed the meme stock moment in David vs Goliath terms — the retail traders versus the hedge funds. Several brokerages limited trading in meme stocks at the height of the meme stock mania. In the second quarter of 2019, before the meme stock mania began, the company generated about $1.3 billion in net sales. The AMC stock sales have diluted the holdings of individual shareholders, and the market cap of AMC is still down more than 50% from its peak.
Persons: Pete Davidson, Paul Dano's Keith Gill, Kitty, There's Anthony Ramos, Marcus, Jenny, hasn't, David, Gabe Plotkin, Seth Rogen, Capital, Robinhood, Chewy, Ryan Cohen, Matthew Furlong, shakeups, Adam Aron, Plotkin Organizations: Sony Pictures Entertainment, GameStop, YouTube, Ferrari, AMC Entertainment, AMC, SEC, Amazon, Wall Street titans, Charlotte Hornets
☆ Recasting the upcoming GameStop movie: Here's who should play Ken Griffin, Steve Cohen, and the rest of the gang
  + stars: | 2023-04-27 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
Wall Street is getting the Hollywood treatment again. - Paul Giamatti as AMC's Adam Aron (This guy knows his way around Wall Street.) For more on the upcoming GameStop movie, including who is set to play the "pot-smoking retail trader," click here. Here's why the rest of Wall Street might be motivated to help First Republic. Meet the new generation of the ultra-rich on Wall Street.
☆ Burton Malkiel on why his classic investment book, 'A Random Walk Down Wall Street,' is relevant 50 years later
  + stars: | 2023-01-06 | by ( Bob Pisani | ) www.cnbc.com   time to read: +8 min
You recommended index funds 50 years ago even before index funds existed. Standard & Poor's publishes annual reports showing how actively managed funds compare with index funds. Random Walk means that the history of past stock market prices cannot be used to predict the future. Exchange Traded Funds (ETFs), most of which are tied to index funds, are continuing to rake in money. This suggests that returns over the next decade are likely to be below the 9%-10% long-run historical stock market returns.
☆ Billionaire investor Carl Icahn is reportedly betting big that GameStop shares will fall
  + stars: | 2022-11-22 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
Investing legend Carl Icahn holds a sizable short position in GameStop, according to Bloomberg. Icahn reportedly started building the position in January 2021 as retail investors piled into meme stocks. GameStop shares were close to their all-time high of $483 when Icahn first shorted the stock, Bloomberg said. GameStop stock has lost 79% of its value since the meme stock frenzy, once the four-for-one stock split the video-game retailer executed in July is accounted for. Icahn has never previously disclosed a bet against meme stocks, but the billionaire investor slammed the fact that many were trading at "ridiculous prices" in May 2021.
☆ 'Eat the Rich: The GameStop Saga' review: Netflix presents the David-vs.-Goliath battle that roiled Wall Street
  + stars: | 2022-09-28 | by ( Review Brian Lowry | ) edition.cnn.com   time to read: +3 min
CNN —The best part of “Eat the Rich: The GameStop Saga” is that it manages to tell a complicated financial story with a fair amount of humor and context, in a way that doesn’t demonize the various parties, which doesn’t spare them from various levels of mockery. The result is a Netflix docuseries that, despite a few excesses, exposes the more ridiculous aspects of stock trading and where all that paper can come to resemble a house of cards. Video Ad Feedback 04:37 - Source: CNN These GameStop traders struck gold. Perhaps the most salient impression watching “Eat the Rich,” though, is recalling just how big the story was – and how quickly media and markets move on, without addressing the vulnerabilities that allowed the GameStop saga to unfold. “Eat the Rich: The GameStop Saga” premieres September 28 on Netflix.
☆ $14 billion hedge fund Schonfeld is focused on hiring as underperforming shops face a shakeout
  + stars: | 2022-09-19 | by ( Alyson Velati | ) www.businessinsider.com   time to read: +4 min
The hedge fund industry in the early days of a consolidation wave, according to headhunter Ilana Weinstein. The writing is on the wall for hedge funds whose performance have taken massive hits over the last few months. The S&P 500 and the average hedge fund, according to Hedge Fund Research, dropped 18% and 4% year to date, respectively. To stay competitive amid consolidation in the hedge fund industry, Tolkin said $14.1 billion Schonfeld Strategic Advisors is looking to attract talent from different backgrounds and that can provide different ideas. This will help the firm become one of the "winners" amid the industry consolidation, Tolkin said.
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