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It's been a long time coming, but for precious metal fans the day of joy has finally arrived: following a coordinated campaign to buy both silver ETFs in the paper realm and precious metals in the physical, which over the weekend which left virtually US precious metals retailer with little to no physical inventory, silver has finally exploded higher following in the footsteps of other "most-shorted" names, and it was last trading just around $30/ounce, soaring by 11.5% - its biggest one-day jump since Sept 16, 2008 - the day Lehman filed for bankruptcy. And, if silver closes here, it...

Or a link that explains it. Thank youEven after watching Trading Places for 30+ years, I still don't understand exactly what they were doing at the stock exchange. 🙁

The story of some Reddit investors on a board called Wall Street Bets crushing a hedge fund has tapered off as the weekend has carried on, though they are promising to resume their mission when trading opens on Monday. RedState has covered the story extensively, including how they targeted GameStop (among other stocks) after Wall Street got way out over their skis shorting the stock in hopes of profiting off its demise (see Reddit Trolls Beat the Stock Market, and the Elites Are Really, Really Mad).Whatever your moral opinions on short sellers and hedge funds may be, watching a bunch...

Like the mighty Gulliver pinned down by the Lilliputians, the Reddit Raiders have had the giant hedge fund boys tied up in knots. The suits were executing a classic short squeeze where they collectively shorted GameStop shares. It’s a time tested strategy where their shorts alone were virtually guaranteed to drive the stock price down. They consistently made hefty profits while the small shareholders lost big. But a funny thing happened to the wolves on the way to this kill. They ran into an army of small day traders, armed with laptops. A few did the research and shared it...

Dan Pipitone, Co-Founder of TradeZero. Fought our Clearing Firm to Get $GME Approved, WE ARE LIVE. Ask about Dead Hedgies, Other Trading Platforms Lying - AMA! Business r/IAmA - Dan Pipitone, Co-Founder of TradeZero. Fought our Clearing Firm to Get $GME Approved, WE ARE LIVE. Ask about Dead Hedgies, Other Trading Platforms Lying - AMA! Hey guys - this is Dan Pipitone, Co-Founder from TradeZero. You wouldn’t believe the shit going on behind the scenes right now. 10 hedge funds have fallen, and our clearing firm emailed to block ALL trading platforms from $GME, $AMC, and the like. That some...

Here comes the Sun do-da, do, do.The Justin Sun, that is. He is a purported tech billionaire in Xining, Red China. He tweeted his plan to buy more GameStop stock as small investors continue their attempt to shortchange the hedge funds that shorted the stock.His tweet said, "$1 Mil doesn’t seem enough, I’ll be buying $10 Mil $GME [GameStop stock] instead tonight from Asia when market opens! It’s time to unite & squeeze out those greedy hedge funds! Wallstreetbets, 4 billion Asian community & 20 mil $TRX community supports u! Let’s do this!"Now we have to be cautious here. Never...

An analysis of the losses incurred by hedge funds in the GameStop crusade launched by retail investors indicates that the "short squeeze" has cost short sellers as much as $19 billion already. Data provider Ortex said that according to their analysis provided to Business Insider, those targeted by the "short squeeze" operation by members of a Reddit investment group were headed towards losing as much as $19 billion. And that's only by the end of Friday.

A best-selling fiction author could not have spun a more ironic tale so completely representative of our time. Just as an unprecedented situation—COVID and lockdowns—unfolded over the past year and led to massive gains for corporate titans like Walmart and Amazon while governments have crushed small businesses and individuals, a new, unprecedented situation has unfolded over the past week.Spilling off the pages of Reddit to become a substantial threat to the stock market’s stability is a microcosm of this tale of big business quashing the little guy, of Wall Street profiting despite the best, most subversive efforts of the underdogs....

The rules here are simple: Heads Wall Street wins, tails you lose.For those who haven’t heard, there’s a bit of a brouhaha brewing with the video game retailer GameStop, which is publicly traded. Much of Wall Street soured on the company, believing it to be the next Blockbuster or Radio Shack: a dinosaur from a bygone era that has no hope of succeeding in the increasingly internet-run future. As a result, a major Wall Street hedge fund worth billions decided to make a bet that the company’s already low stock price would just keep going lower. The traditional way to...

I remember despising the 2015 movie The Big Short for its cavalier representation of what was truly terrible carnage. Like many, the 2008 shorting of mortgage stock, and the pooling of solid mortgages with garbage ones, was devastating on the economy, and upended people’s lives. This is probably why what they have sought to do to us during the pandemic hasn’t completely taken me by surprise; I have already been chewed up by someone’s idea of gaming system.Between 2008-2010, my husband and I had lost two residences, our jobs, and our lives were reduced to our two dogs and what...

Reports are coming in that Robinhood, the stock broker app, is forcibly selling shares of GameStop on behalf of some of its users. The transactions cannot be canceled and it is being positioned as mitigating “unreasonable risk” on behalf of the company as well as the investor. Billionaire hedge funds have been taking a huge hit after a Reddit group started buying up GameStop shares in an effort to counter a massive amount of short positions. This prompted a “short squeeze” that sent the stock skyrocketing. As the dominos fell, GameStop reached a high of over $400 dollars per share,...

A subreddit, r/WallStreetBets, has caused mass hysteria in the financial markets as many hedge funds and Wall Street elites have lost billions as a result of their GameStop play. Was what they did “market manipulation?” Absolutely. Is that inherently wrong or even illegal. Absolutely not.Briefly, members of the subreddit noticed that most of the active shares for GameStop were in a short position, meaning hedge funds were betting that the stock price would drop dramatically, making them a lot of money. So, the Redditors put out the word to buy Gamestop stocks and drive the price up. It worked. One...

The craziest financial story of the week has got to be GameStop stock’s meteoric rise from $6 a share to $340 a share overnight. It all began when Melvin Capital hedge-fund managers decided to short GameStop, betting the stock would fall. But a lot of retail investors viscerally hate billion-dollar hedge-fund managers who make a living manipulating the stock market and driving small investors out of the game.The investors on Reddit’s “Wall Street Bets” page got together to buy, buy, buy GameStop and drove the stock way up, costing Melvin Capital billions of dollars. You could say it was a...

Wall Street traders and hedgefunds are currently very upset, as the “unwashed masses” lose them billions in a short squeeze of GameStop and other stocks.Users of the subreddit r/WallStreetBets are fighting back against the multi-billion dollar hedgefunds in a rather creative way. GameStop became one of the most shorted stocks on Wall Street last week, after a newsletter from a short seller, Andrew Left of Citron Capital, encouraged people to short the company. Gamestop had a short interest of 102% of its shares, making it one of the most shorted on the market.To “short” a company is to bet on...

https://twitter.com/RayDalio/status/1340110013122134019 It is with great pain that I am sharing with you that my 42 year old son was killed in a car crash yesterday. My family and I are mourning and processing and would prefer to be incommunicado for the time being. 7:41 PM · Dec 18, 2020

The son of the owner of the world’s largest hedge fund died Thursday after he crashed his car into a Verizon store in Greenwich, Conn., authorities said. Devon Dalio, 42, was the son of Raymond Dalio, 71, the billionaire founder of Bridgewater Associates, a hedge fund he founded in 1975. Dalio’s Audi crashed into the Verizon store at a shopping center Thursday afternoon and burst into flames. Police are still investigating the cause of the crash which almost destroyed the store, according to the Associated Press.

Campaign fundraising reports for Chellie Pingree, a former Democratic Senate candidate form Maine who now heads Common Cause, contain numerous infractions that may prompt an audit by the Federal Election Commission (FEC), The Hill has learned. The prospect of an election commission audit of Pingree has raised eyebrows among campaign finance experts and lawyers because the well-known government watchdog group spearheaded the passage of the landmark Bipartisan Campaign Reform Act last year. In fact, campaign finance regulation has become Common Cause's signature issue in recent years. Pingree, who last year lost her bid to oust Sen. Susan Collins (R-Maine), became...

Executives at a Bermudan firm funneling money to U.S. environmentalists run investment funds with Russian tycoons. A shadowy Bermudan company that has funneled tens of millions of dollars to anti-fracking environmentalist groups in the United States is run by executives with deep ties to Russian oil interests and offshore money laundering schemes involving members of President Vladimir Putin’s inner circle. One of those executives, Nicholas Hoskins, is a director at a hedge fund management firm that has invested heavily in Russian oil and gas. He is also senior counsel at the Bermudan law firm Wakefield Quin and the vice president...

House lawmakers want the Trump administration to investigate reports that a wealthy foundation used an offshore shell company to give millions of dollars to environmental activists opposed to U.S. energy development. “If you connect the dots, it is clear that Russia is funding U.S. environmental groups in an effort to suppress our domestic oil and gas industry, specifically hydraulic fracking,” Texas Republican Rep. Lamar Smith said Friday. Smith and Texas Republican Rep. Randy Weber asked Treasury Secretary Steve Mnuchin to investigate whether or not environmentalists were funneling money to U.S. environmental groups through a Bermuda-based shell company. Republicans are pitching...

..Over seven years, Payless went through a wringer of private equity and hedge fund stewardship that left it with inadequate technology, run-down stores and no financial cushion to survive an era of upheaval in retail. .. Financial managers exert greater control over nearly all American companies than they once did. Their willingness to cause some pain — to close factories, lay people off, renegotiate arrangements with longtime suppliers — is, many economists argue, a feature, not a bug .. The American economy has become markedly less dynamic. Fewer businesses are being started, and the newcomers are having less success unseating...