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☆ A freelancer who makes 6-figures says that anyone can turn writing into a side hustle. He shares the 'funny and unconventional' cover letter that landed him his first major gig without a writing bac
▼ + stars: | 2023-03-03 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

He sent The Motley Fool an unconventional cover letter and it worked. Still, he decided to try his hand at freelance writing to make some extra money to spend on travel. "I had no qualifications so I resorted to shock value," he said of his application to The Motley Fool. The 27-year-old believes that anyone can try out freelance writing as a side hustle, regardless of your background. Courtesy of Tony Dong"Fortune favors the bold, or so I'm told," added Dong, who still writes for The Motley Fool today.

☆ Movie theatre operator AMC's stock surged 23% after a potential legal delay to a plan that could dilute its shares
▼ + stars: | 2023-02-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

AMC stock surged 23% on Monday after a judge scheduled a hearing for shareholders suing the company. The stock became popular in 2021 as a meme stock on Reddit. Investors of the movie theatre chain are scheduled to vote on a conversion of the preferred shares to common shares on March 14 — which will increase the pool of common stock and thus dilute the voting power of common shareholders. This boosted market sentiment and sent AMC common shares soaring. Insider's Phil Rosen reported on Thursday that the rally is like the meme stock boom of 2021.

Feb 15 (Reuters) - The founder of WallStreetBets, which has been credited with helping ignite investors' frenzy into "meme" stocks, sued Reddit Inc on Wednesday, accusing it of wrongly banning him from moderating the community and undermining his trademark rights. According to the complaint filed in federal court in Oakland, California, Rogozinski applied to trademark "WallStreetBets" in March 2020, one month before his ouster, when the community reached 1 million subscribers. "Jamie was removed as a moderator of r/WallStreetBets by Reddit and banned by the community moderators for attempting to enrich himself. Meme stocks typically gain popularity through discussions, often among inexperienced investors, in online forums such as WallStreetBets and Twitter. The case is Rogozinski v Reddit Inc, U.S. District Court, Northern District of California, No.

☆ Europe’s now dealing with an oversupply of natural gas after hoarding it for months before winter
▼ + stars: | 2023-02-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The benchmark price for natural gas futures has cratered about 28% this year, and it's trading roughly 85% cheaper than record highs reached in August. At that time, natural gas was costing buyers about 10 times more than usual ahead of the winter months. As a key energy supplier to Europe, many feared that Russia would cut off natural gas flows in retaliation to Western sanctions. Europe enjoyed its third hottest January ever last month, meaning people used less heating and thus less natural gas. A former Gazprom official told Reuters this week that all the years of work to build up Russia's natural gas exports have become moot.

☆ ChatGPT has investors scrambling to get on the AI bandwagon so much that obscure stocks are soaring just like big-name chip companies
▼ + stars: | 2023-02-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

That's that for the latest Fed talk — but today, we're taking a closer look at the AI hype train passing through the stock market. And small-cap tech stocks with names that nod to bots like BigBear.ai and SoundHound AI have similarly notched gains so far this year. Tech stocks have come back with a "vengeance," Fundstrat's Mark Newton said. It's a necessary step for policymakers to take, the group said, even if it means declines in stock market returns. Wall Street's biggest firms are warning their clients not to trust the stock market rally.

☆ Did investors learn nothing from last year’s market meltdown?
▼ + stars: | 2023-02-05 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.

☆ This Redditor took out $76,000 in loans to trade meme stocks thanks to hype on Wall Street Bets. It became an 'addiction' and he even lost $6,000 of his girlfriend's money.
▼ + stars: | 2023-01-21 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +7 min

A Reddit user took out $76,672 in loans to trade meme stocks and lost nearly all of it. Aaron, a software engineer from Munich, took out tens of thousands of dollars in loans to trade stocks. The subreddit shot to fame in 2021 when it made some retail traders into millionaires while bankrupting others, often through trading meme stocks in "short squeezes." Bed Bath & Beyond, Aaron's meme stock of choice, has lost 88% of its value since January 2021. Within two months of accessing his girlfriend's money, he lost $6,000 of it betting on meme stocks.

☆ Bed Bath & Beyond stock skyrockets 65% even as it reports a bigger-than-expected quarterly loss
▼ + stars: | 2023-01-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond stock soared on Tuesday despite a downbeat earnings report. The home-goods retailer saw deeper quarterly losses than expected, after warning last week of a potential bankruptcy filing. On Monday, the meme stock saw a separate 30% surge amid speculation among Reddit users about a potential merger and acquisition deal. He explained how two December S-4 filings and an NT 10-Q document from Bed Bath & Beyond fueled the M&A theory. In early 2021, Bed Bath & Beyond was right there with GameStop as part of the meme-stock craze that dominated headlines and talks across Reddit's WallStreetBets page.

☆ Bed, Bath & Beyond rebounds in meme-stock rally
▼ + stars: | 2023-01-09 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

NEW YORK, Jan 9 (Reuters) - Shares of Bed, Bath & Beyond Inc (BBBY.O) rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller might be a potential acquisition target. As of mid-day, traders had exchanged $114 million worth of the Bed, Bath & Beyond's shares, nearly matching the company's entire stock market value of $157 million, according to Refinitiv data. Bed Bath & Beyond has struggled for years with shrinking sales as it competes against Amazon (AMZN.O) and other rivals, with investors pointing to problems including cluttered stores and an over-reliance on discount coupons. In a filing last week, Bed Bath & Beyond said it expected to show a net loss of $385.8 million for its fiscal quarter ending in November, including $100 million of impairment charges. Of the 13 analysts covering the company, three recommend "hold," eight rate the stock "sell," and two have "strong sell" recommendations.

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☆ Bed Bath & Beyond spikes 30% despite bankruptcy fears as Reddit crowd hopes for an M&A miracle
▼ + stars: | 2023-01-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond stock jumped 30% Monday after last week's heavy losses. However, Reddit users are speculating that a merger and acquisition deal could be looming to save the meme-stock company. The post cited an NT 10-Q form explaining why Bed Bath & Beyond may file earnings late as well as two December S-4 filings as fuel for the acquisition theory. However, shares tumbled 40% on August 18 when activist investor and GameStop exec Ryan Cohen sold his entire Bed Bath & Beyond stake — 9.45 million shares — via his firm RC Ventures. Bed Bath & Beyond is scheduled to report earnings on Tuesday, following warnings that losses could be as steep as 40%, or about $385.8 million.

☆ 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.

☆ Blackstone is betting big on lending out money in the private markets, and the PE giant has $182 billion to do it
▼ + stars: | 2022-10-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Blackstone has some money to lendBlackstone, the world's largest private-equity firm and a big fan of warehouses, reported earnings on Thursday. By comparison, back in the good ole days (see: Q3 2021), Blackstone reported a profit of $1.4 billion. Blackstone reported its private credit unit was up 3% in the third quarter and 9.3% over the past 12 months. To read more about Blackstone's push into private credit, click here. A Fed president spoke somewhere that a Fed president shouldn't really be speaking, The New York Times reported.

☆ '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.

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