Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "U.S . Securities"


25 mentions found


Triller owner prepares direct listing amid social media pivot - sources
  + stars: | 2021-06-14 | by ( Echo Wang | ) www.reuters.com sentiment -1.00   time to read: +2 min
Unlike with a traditional initial public offering, TrillerNet would not sell any shares in its direct listing, which could come as early as September, the sources said. The company plans to register its direct listing confidentially with the U.S. Securities and Exchange Commission next month, hoping stock market investors will value it at more than $5 billion, according to that source. Launched in 2015, Triller has been diversifying beyond short video apps to live events, mobile gaming and pay-per-view streaming. In a sign it no longer views itself as a direct competitor to TikTok, Triller stopped reporting daily or monthly active users for its short video app. TrillerNet also owns Triller Fight Club, a live-event platform in partnership with rapper Snoop Dogg and operates TrillerTV, a long-form content streaming platform with more than 65 original shows.
Persons: TrillerNet, Triller, Amplify.ai’s, Mahi de Silva, Snoop, Paul Kahn Organizations: Reuters, U.S . Securities, Exchange Commission Locations: Ukraine
Electric truck maker Lordstown Motors shares slide after CEO and CFO resign
  + stars: | 2021-06-14 | by ( Michael Wayland | ) www.cnbc.com sentiment -0.99   time to read: +2 min
Lordstown Motors Corp Chief Executive Steve Burns poses with a prototype of the electric vehicle start-up's Endurance pickup truck, which it will begin building in the second half of 2021, at the company's plant in Lordstown, Ohio, U.S. June 25, 2020. Lordstown said its lead independent director, Angela Strand, has been appointed executive chairwoman and would oversee the firm's transition until a permanent CEO is identified. Shares of Lordstown, which went public through a special purpose acquisition company, or SPAC, in October, slid by about 13% during premarket trading. Lordstown Motors said Monday that CEO Steve Burns and CFO Julio Rodriguez have resigned, days after the electric truck maker warned that it had "substantial doubt" about its ability to continue as a going concern in the next year. Hindenburg accused Lordstown in a March report of using "fake" orders to raise capital for its Endurance electric pickup.
Persons: Steve Burns, Lordstown, Angela Strand, Becky Roof, Lordstown Motors, Julio Rodriguez, Hindenburg, Strand, Organizations: Lordstown Motors Corp, Lordstown, Hindenburg, U.S . Securities, Exchange Commission, SPAC DiamondPeak Holdings, SPACs, General Motors, – Reuters Locations: Lordstown , Ohio, U.S, Ohio
Musk says Tesla will accept bitcoin again as crypto miners use more clean energy
  + stars: | 2021-06-13 | by ( Emma Newburger | ) www.cnbc.com sentiment -1.00   time to read: +1 min
Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions." Tesla revealed in an SEC filing in February that it purchased $1.5 billion worth of bitcoin and said it would begin accepting bitcoin as a payment method for its products. On Sunday, Musk disputed Wierzycka's allegations of market manipulation, explaining, "Tesla sold roughly 10% of its bitcoin holdings "to confirm BTC could be liquidated easily without moving market," he said. Bitcoin was trading around $37,442, according to Coindesk, at around 2:30 pm ET, up more than 4% on the day.
Persons: Elon Musk, Tesla, Magda Wierzycka, Sygnia, Musk, Bitcoin Organizations: U.S . Securities, Exchange Commission, SEC, bitcoin, BTC
AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders
  + stars: | 2021-06-11 | by ( Matt Wirz | Juliet Chung | ) www.wsj.com + 0.00   time to read: +7 min
A multipronged bet on AMC Entertainment Holdings Inc. AMC 12.84% boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Day traders took their first run at AMC shares in late January. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2.
Persons: Jason Mudrick, Bing Guan, Mudrick, Mudrick’s, Adam Aron, — Alexander Gladstone, Soma Biswas, Matt Wirz, Juliet Chung Organizations: AMC Entertainment Holdings Inc, AMC, Mudrick Capital, GameStop Corp, Bloomberg, Mudrick, Bloomberg News, U.S . Securities, Exchange Commission, GameStop, NJOY Holdings Inc, Globalstar Inc, HSBC Alternative Investment, Federal Reserve, Capital Locations: Mudrick
U.S. charges Israeli traders in healthcare insider trading scheme
  + stars: | 2021-06-10 | by ( Jonathan Stempel | ) www.reuters.com sentiment -0.99   time to read: +2 min
U.S. prosecutors on Thursday unveiled criminal charges in Manhattan accusing two Israeli traders of illegal trading in several biotechnology and healthcare companies in connection with a sprawling international insider trading scheme. Tomer Feingold and Dov Malnik were accused in a 15-count indictment of securities fraud, wire fraud, tender offer fraud, concealment of a money laundering scheme, and conspiracy. The U.S. Securities and Exchange Commission filed related civil charges against Feingold and Malnik in March 2020. The other trader, identified in media reports as Marc Demane Debih from Geneva, pleaded guilty to 38 charges and cooperated in U.S. prosecutors' insider trading case against Telemaque Lavidas, a pharmaceutical executive. He had been among six people charged in four indictments in October 2019 over an insider trading scheme that prosecutors said generated tens of millions of dollars in illegal profit.
Persons: Tomer Feingold, Dov Malnik, Feingold, Audrey Strauss, Malnik, Benjamin Taylor, Darina Windsor, Marc Demane Debih, Telemaque Lavidas, Lavidas Organizations: Authorities, Ariad Pharmaceuticals Inc, Avanir Pharmaceuticals Inc, InterMune Inc, U.S . Securities, Exchange Commission, Malnik, SEC, Moelis, Centerview Partners, Thomson Locations: Manhattan, Geneva, Switzerland, U.S
Lilly spokesperson Kathryn Beiser and a Justice Department spokesperson declined to comment. The firm also has several lawyers whose reputations would carry weight with the Justice Department and the FDA, including former Attorney General Eric Holder, legal experts said. ANSWERING DIFFERENT QUESTIONSThe company-backed investigation was based on interviews with more than 100 people, the May 20 memo to Lilly employees said. The memo denies the company made false statements to the FDA. The company memo said Lilly couldn’t substantiate allegations that employees faced retaliation for refusing to make false statements.
Persons: Eli Lilly, Mike Segar, Lilly, Burling, Nellie Clark, Kathryn Beiser, Clark, Covington, it’s, , Paul Pelletier, Eric Holder, Gerald Masoudi, Masoudi, Amrit Mula, Mula, Trump, New Jersey Democrat Bob Menendez, ” Menendez Organizations: Reuters, U.S . Justice, Company, REUTERS, U.S . Food, Drug Administration, Washington D.C, Covington, Burling LLP, Justice Department, U.S . Securities, Exchange Commission, Justice, U.S, Department, FDA, New, New Jersey Democrat Locations: New Jersey, Branchburg , New Jersey, , New Jersey, Washington, Covington, Mula, U.S
GameStop tumbles, Clover Health rises in 'meme stock' rollercoaster
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
June 10 (Reuters) - Shares of GameStop fell 7.6% and Clover Health Investments jumped 5.9% in early deals on Thursday, setting the stage for another rollercoaster session for stocks favored by small-time investors on social media platforms. Clover Health, which had a short interest of 43.5% of free float as of Tuesday, was up 5.9% at around $17.92 before the bell. In the past two weeks, the so-called “meme stocks” have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price. Shares of AMC Entertainment were down 6.0%, while prison operator Geo Group - the latest “meme stock” - slumped 8.5% after surging 38% on Wednesday.
Persons: Vanda, Sagarika, Sriraj Kalluvila Organizations: GameStop, Clover Health Investments, Wednesday, Medicare, Clover Health, AMC Entertainment, U.S . Securities, Exchange Commission, SEC, Vanda Research, Geo Locations: Bengaluru
GameStop tumbles, Clover Health rises in 'meme stock' roller coaster
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 7% and Clover Health Investments Corp (CLOV.O) jumped 6.4% in early deals on Thursday, setting the stage for another roller coaster session for stocks favored by small-time investors on social media platforms. Shares of cinema operator AMC Entertainment Holdings Inc (AMC.N) were down 4.1%, while prison operator Geo Group Inc (GEO.N), the latest "meme stock", slumped 8.8%, after surging more than 38% on Wednesday. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Clover Health Investments Corp, Wednesday, ContextLogic Inc, Clean Energy Fuels Corp, AMC Entertainment Holdings Inc, Geo Group Inc, Medicare, AMC, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop tumbles, other "meme stocks" falter after big runups
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell more than 17% on Thursday and other so-called meme stocks also declined, setting the stage for another roller-coaster session for stocks favored by retail investors on social media platforms. AMC shares were off around 11%. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Wedbush Securities, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop falls 25% on potential share sale, other 'meme stocks' falter
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +3 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 25% on Thursday and other so-called meme stocks also declined in a sell-off that hit a broad range of stocks favored by retail investors on social media platforms. "It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run up,” Ablin said. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Jack Ablin, ” Ablin, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Cresset Capital, , Wedbush Securities, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
The lawsuit alleges investors purchased RLX shares at artificially inflated prices, in part because the company omitted and misrepresented information in the registration statement. As the stock price dropped, RLX investors lost hundreds of millions of dollars, the lawsuit said. Rosen Law Firm PA and Bronstein, Gewirtz & Grossman LLC, among others, said Thursday they are seeking RLX investors who want to join a class-action suit. RLX on June 2 reported revenue of 2.4 billion Chinese yuan, equivalent to $366.1 million, for the quarter ended March 31, up from 368.6 million yuan the prior-year period. The company booked a net loss of 267 million yuan, or $40.8 million, compared with a profit of 12.1 million yuan during the prior-year quarter.
Persons: Alex Garnett, Garnett’s, RLX didn’t, RLX, Garnett, Garnett didn’t, Labaton Sucharow, Bronstein, Gewirtz, Jacek Welc, Cash, Welc, , Erik Gerding, Mark Maurer Organizations: RLX Technology Inc, U.S, Southern, of, U.S . Securities, Exchange Commission, Inc, Nasdaq, New York Stock Exchange, Dealogic, Regulators, International, Schall, Rosen, Firm, Grossman, Poland’s Wroclaw University of Economics, Business, Wirecard, University of Colorado, mark.maurer Locations: U.S, of New York, Beijing, China
An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. If the Justice Department concludes that an internal investigation was thorough, it can result in a non-prosecution agreement with few, if any, penalties, the experts said. The firm also has several lawyers whose reputations would carry weight with the Justice Department and the FDA, including former Attorney General Eric Holder, legal experts said. ANSWERING DIFFERENT QUESTIONSThe company-backed investigation was based on interviews with more than 100 people, the May 20 memo to Lilly employees said. The company memo said Lilly couldn’t substantiate allegations that employees faced retaliation for refusing to make false statements.
Persons: Eli Lilly, Mike Segar, LLY.N, Lilly, Burling, Nellie Clark, Kathryn Beiser, Clark, Covington, it’s, , Paul Pelletier, Eric Holder, Gerald Masoudi, Masoudi, Amrit Mula, Mula, Trump, New Jersey Democrat Bob Menendez, Menendez Organizations: Company, REUTERS, U.S . Justice, Reuters, U.S . Food, Drug Administration, Washington D.C, Covington, Burling LLP, Justice Department, U.S . Securities, Exchange Commission, Justice, U.S, Department, FDA, New, New Jersey Democrat, Thomson Locations: Branchburg , New Jersey, New Jersey, , New Jersey, Washington, Covington, Mula, U.S
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. Worries that other companies could leverage recent stock price gains by announcing share sales may be rippling out to the broader meme stock universe, said Jack Ablin, chief investment officer at Cresset Capital. "It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run-up,” Ablin said. GameStop will likely sell all 5 million new shares but that amount only represents a “modest” dilution of 7%, Wedbush analysts wrote. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday, matching their January peak.
Persons: Carlo Allegri, Jake Dollarhide, Jack Ablin, ” Ablin, Inc's, GameStop's, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Longbow Asset Management, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Cresset, , Wedbush Securities, U.S . Securities, Exchange Commission, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
FILE PHOTO: A 2021 Lordstown Motors Endurance truck is pictured at the White House in Washington D.C. behind former U.S. President Donald Trump and two Lordstown employees. On Wednesday, Lordstown officials had no immediate comment, but Burns has scheduled an appearance with the Automotive Press Association next Tuesday. When Lordstown announced the SPAC deal, it boasted its electric truck would be first to market to serve commercial fleet customers. After Hindenburg’s report, Lordstown said the orders were nonbinding and on Tuesday it said it had no binding purchase orders. General Motors Co, which invested $25 million in cash in Lordstown and another $50 million in in-kind contributions including the Ohio plant, declined to comment.
Persons: Donald Trump, Carlos Barria, Lordstown, Steve Burns, Burns, Lordstown’s, Hindenburg, Nathan Anderson, Joseph Spak, COVID, Ford, Hermes Kaufmann Organizations: DETROIT, Lordstown Motors Corp, Motors, White, Washington D.C, REUTERS, Endurance, Automotive Press Association, DiamondPeak Holdings, Hindenburg Research, U.S . Securities, Exchange Commission, SEC, RBC Capital Markets, U.S . Department of Energy, DOE, Energy, Ford Motor Co, Ford’s, Fidelity Management & Research Co, Wellington Management Co, Fund, BlackRock Inc, BlackRock, General Motors Co Locations: WASHINGTON, Washington, Washington , U.S, U.S, Ohio, Hindenburg, Lordstown
A 2021 Lordstown Motors Endurance truck is pictured at the White House in Washington D.C. behind former U.S. President Donald Trump and two Lordstown employees. Lordstown in a Wednesday statement reaffirmed it has "adequate capital to continue operations, meet supplier obligations and begin limited production," but will need to raise additional funds and was in talks to do that. read moreLordstown's situation has raised doubts about forecasts the company made on Aug. 3, 2020, when it announced its deal to go public through a reverse merger with special-purpose acquisition company (SPAC) DiamondPeak Holdings. When Lordstown announced the SPAC deal, it boasted its electric truck would be first to market to serve commercial fleet customers. Investors in the initial SPAC deal included Fidelity Management & Research Co, Wellington Management Co, Federated Hermes Kaufmann Small Cap Fund and BlackRock Inc (BLK.N).
Persons: Donald Trump, Carlos Barria, Lordstown, Steve Burns, Lordstown's, Burns, Hindenburg, Nathan Anderson, Joseph Spak, COVID, Ford, Hermes Kaufmann Organizations: Motors, White, Washington D.C, REUTERS, Lordstown Motors Corp, Endurance, DiamondPeak Holdings, Hindenburg Research, U.S . Securities, Exchange Commission, SEC, RBC Capital Markets, U.S . Department of Energy, DOE, Energy, Ford Motor, Ford's, Fidelity Management & Research Co, Wellington Management Co, Fund, BlackRock Inc, BlackRock, Thomson Locations: Washington, Washington , U.S, U.S, Ohio, Hindenburg
Southeast Asia's Grab sees $40 bln SPAC merger delayed to Q4
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga/File PhotoSoutheast Asia's Grab, which is going public through a merger worth $40 billion with special-purpose acquisition company Altimeter Growth Corp (AGC.O), said on Wednesday it expects to complete the business combination during the fourth quarter. It is also was working with the SEC to obtain pre-clearance of certain accounting policies and related financial disclosures. As a result, Grab's financial information for those periods remain subject to further review and revision, it said in a statement.
Persons: Anshuman, Grab Organizations: Trade, REUTERS, Growth, U.S . Securities, Exchange, SEC, Thomson Locations: Asia, Singapore
(Reuters) - Serial dealmaker Chamath Palihapitiya’s $16 million investment in the special purpose acquisition company (SPAC) that took Clover Health Investments Corp public was worth $682 million on Tuesday after a Reddit-fueled rally in the health insurer’s shares. FILE PHOTO: Chamath Palihapitiya, founder and CEO of Social Capital, speaks during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. A third of Palihapitiya’s stake in Clover is pledged as collateral to Credit Suisse for a loan, a regulatory filing shows. Palihapitiya took Clover Health public through a $3.7 billion merger that closed in January. Earlier in June, Palihapitiya launched four new, warrant-less SPACs that are looking to raise a total of $800 million through IPOs, with a focus on buying biotech firms.
Persons: Palihapitiya, Brendan McDermid Clover, Clover Organizations: Reuters, Clover Health Investments Corp, Social Capital, Investment, REUTERS, Hindenburg Research, U.S . Department of, U.S . Securities, Exchange Commission, Credit Suisse, Clover Health, Finance Technologies, Virgin Galactic Holdings Inc, Technologies Locations: New York City, U.S
Palihapitiya's $16 mln bet on Clover worth $682 mln on Reddit rally
  + stars: | 2021-06-08 | by ( Anirban Sen | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Brendan McDermidSerial dealmaker Chamath Palihapitiya's $16 million investment in the special purpose acquisition company (SPAC) that took Clover Health Investments Corp (CLOV.O) public was worth $682 million on Tuesday after a Reddit-fueled rally in the health insurer's shares. Clover shares ended trading up 86% on Tuesday as it became the latest 'meme stock' to capture the imagination of amateur investors on Reddit and other social media platforms. A third of Palihapitiya's stake in Clover is pledged as collateral to Credit Suisse for a loan, a regulatory filing shows. Palihapitiya took Clover Health public through a $3.7 billion merger that closed in January. Earlier in June, Palihapitiya launched four new, warrant-less SPACs that are looking to raise a total of $800 million through IPOs, with a focus on buying biotech firms.
Persons: Chamath Palihapitiya, Brendan McDermid, Clover, Palihapitiya Organizations: Social Capital, Investment, REUTERS, Clover Health Investments Corp, Hindenburg Research, U.S . Department of, U.S . Securities, Exchange Commission, Credit Suisse, Clover Health, Finance Technologies, Virgin Galactic Holdings Inc, Technologies, Thomson Locations: New York City, U.S
(Reuters) -U.S. electric truck maker Lordstown Motors Corp said on Tuesday there was “substantial doubt” about its ability to continue as a going concern in the next year because of problems funding the production of its vehicle, causing its shares to plummet. Lordstown, which went public last year through a reverse merger with a special-purpose acquisition company (SPAC), has struggled with the launch of its Endurance pickup truck. A Lordstown spokesman declined further comment, pointing to statements made by the company during its earnings call last month. Lordstown said on the call that its Endurance production this year would be half its prior expectations and it needed additional capital to execute its plans. Lordstown reported a first-quarter loss of $125 million, and said it had cash and cash equivalents of about $587 million.
Persons: Lordstown, Lordstown’s, COVID, Steve Burns, Burns, Mike Pence, Donald Trump, ” Pence, Trump’s, Trump Organizations: Reuters, Lordstown Motors Corp, General Motors Co, U.S . Securities, Exchange Commission, Hindenburg Research, SEC, SPAC DiamondPeak Holdings, GM, Locations: Ohio, Lordstown, Mahoning, United States
The contracts grant SPAC sponsors and outside investors the right to buy common stock in the new entity created by the merger at a pre-agreed price, an attractive offer if the stock price rises. But the SEC has taken issue with them in part because they often give some investors such as SPAC sponsors a better deal than public investors, the sources said. ALTERNATIVE CONTRACTSSponsors looking to launch a SPAC IPO may have more options, said the Wall Street accountants and lawyers. Rights agreements, equity contracts that also give investors the right to buy shares at a set price and date, are one alternative being considered, said Weiner and others. Industry executives hope finding new terms or something to replace warrants will provide a jolt to the flagging SPAC market.
Persons: Andrew Kelly, David Brown, Bird, Jeffrey Weiner, Marcum, Angela Veal, EisnerAmper, Weiner, Chamath Palihapitiya, Marcum's Weiner Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Andrew Kelly Wall Street, Reuters, Securities and Exchange Commission, SEC, Alston, Bird LLP, Retail, Marcum LLP, EisnerAmper LLP, Street, Thomson Locations: Washington ,, U.S, SPACInsider, Dealogic, United States
Clover Health jumps 13% as 'meme stock' rally builds
  + stars: | 2021-06-08 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoShares of Clover Health Investments Corp (CLOV.O) and other "meme stocks" jumped in premarket trading on Tuesday as small-time individual investors again piled into some of the most heavily shorted U.S. stocks. read moreMedicare-backed insurance seller Clover and electric-truck maker Workhorse Group Inc (WKHS.O) are among the most shorted stocks across U.S. exchanges, with Clover being the target of short seller Hindenburg in February. read moreClover's shares were last up 13.3% at $13.50 after jumping 32% on Monday. Workhorse shares gained 2.5%, while AMC and GameStop rose 4.1% and 3.5%, respectively.
Persons: Carlo Allegri, Clover Organizations: AMC, REUTERS, Clover Health Investments Corp, AMC Entertainment Holdings Inc, GameStop Corp, U.S . Securities, Exchange Commission, GameStop, Thomson Locations: Manhattan, New York City , New York, U.S
Clover Health soars 49% as 'meme stock' rally powers on
  + stars: | 2021-06-08 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. read moreMedicare-backed insurance seller Clover and electric-truck maker Workhorse Group Inc (WKHS.O) are among the most shorted stocks across U.S. exchanges, with Clover being the target of short seller Hindenburg in February. Clover's shares were last up 49% at $17.74 after earlier hitting a record high of $18.92. Call options speculating on the stock climbing all the way to $30 were among some of the most heavily traded contracts in recent days. Workhorse shares gained 10.0%, while AMC and GameStop rose 4.9% and 11.0%, respectively.
Persons: Carlo Allegri, Clover, Thomas Hayes, Chamath Palihapitiya Organizations: AMC, REUTERS, Clover Health Investments Corp, GameStop Corp, AMC Entertainment Holdings Inc, U.S . Securities, Exchange Commission, Great, Capital, Trade, GameStop, Thomson Locations: Manhattan, New York City , New York, U.S, New York
Clover Health soars as 'meme stock' rally gathers steam
  + stars: | 2021-06-08 | by ( ) www.reuters.com + 0.00   time to read: +3 min
Call options speculating on the stock climbing all the way to $30 were among some of the most heavily traded contracts in recent days. Today' peak gamma is at $16 and there isn't much gamma between $16 and $20 to drive it higher," Wolberg said. With Clover options trading in heavy volume, the gamma picture can quickly change as investors take new positions. Wendy's (WEN.O) was also jumping in high volume, and its shares were last up 15.8%. Workhorse (WKHS.O) shares gained 17.4%, while AMC was up 3.9%, GameStop rose 11.7% and Carlotz (LOTZ.O) was up 24.6%.
Persons: Carlo Allegri, Clover, Thomas Hayes, Jay Wolberg, Wolberg Organizations: AMC, REUTERS, Clover Health Investments Corp, GameStop Corp, AMC Entertainment Holdings Inc, U.S . Securities, Exchange Commission, Great, Capital, Trade, Clover, GameStop, Thomson Locations: Manhattan, New York City , New York, U.S, New York
Clover Health soars as 'meme stock' rally expands
  + stars: | 2021-06-08 | by ( ) www.reuters.com + 0.00   time to read: +4 min
read moreShort interest in Clover Health is at 49.10 million shares, or 43.5% of the float, Ihor Dusaniwsky, managing director of predictive analytics at S3 said on Tuesday. Shorts have been building their position in Clover Health as its stock price has been rallying, Dusaniwsky said. Call options speculating on the stock climbing all the way to $30 were among some of the most heavily traded contracts in recent days. With Clover options trading in heavy volume, the gamma picture can quickly change as investors take new positions. Electric-truck maker Workhorse Group Inc (WKHS.O) shares gained 17.4%, while AMC was down 0.8%, and Carlotz (LOTZ.O) climbed 23.3%.
Persons: Carlo Allegri, Clover, Thomas Hayes, Dusaniwsky, , Jay Wolberg, Wolberg Organizations: AMC, REUTERS, Clover Health Investments Corp, Medicare, Great, Capital, GameStop Corp, AMC Entertainment Holdings Inc, U.S . Securities, Exchange Commission, Clover Health, Trade, Clover, GameStop, Thomson Locations: Manhattan, New York City , New York, U.S, New York
Clover Health shares surge as 'meme stock' rally expands
  + stars: | 2021-06-08 | by ( ) www.reuters.com + 0.00   time to read: +4 min
Clover Health shares, which closed up 85.8% at $22.15 after earlier hitting a record high of $24.93, had the highest trading volume on U.S. exchanges Tuesday. More than 700 million shares changed hands versus their roughly 30 million average for the last 10 days. Clover Health shares shorted increased by 4.5 million shares, worth $54 million, over the last week, based on research from S3 Partners. By comparison, Clover Health shares shorted increased by 9.7 million shares, worth $115 million, over the last 30 days. Short interest in Clover Health is at $585 million, with 49.10 million shares shorted, or 43.5% of Clover's float, he said.
Persons: Carlo Allegri, Jay Wolberg, Clover, Wolberg, Dusaniwsky Organizations: AMC, REUTERS, Clover Health Investments Corp, Traders, Clover Health, GameStop Corp, AMC Entertainment Holdings Inc, U.S . Securities, Exchange Commission, Partners, S3 Partners, Trade, Clover, GameStop, Thomson Locations: Manhattan, New York City , New York, U.S, Wendy's
Total: 25