WASHINGTON—The Senate has approved President Joe Biden’s choice of Gary Gensler to head the Securities and Exchange Commission, signaling an emphasis on investor protection for the Wall Street watchdog agency after a deregulatory stretch during the Trump administration. The vote Wednesday was 53-45, mostly along party lines in the narrowly Democratic-controlled Senate, to confirm Gensler,…
GameStop Is Not the Revenge on Wall Street
Commentary The short squeeze forced on GameStop and other stocks through Reddit’s WallStreetBets has generated a massive media frenzy against hedge funds and comments all over social media hailing the decision of a group of small investors to trigger a huge repurchase of a beaten-down stock. The first thing we need to understand is that…
LIVE: NY Young Republicans Hold ‘Re-Occupy Wall Street’ Protest After GameStop Frenzy
Analyst: In GameStop Battle, ‘The Little Guy Has Been Winning’
Smaller investors have been winning in the battle with Wall Street over GameStop, according to a financial analyst. “The generic backdrop to all this is kind of a little guy against the big [Wall] Street firms. And, in this case, the little guy has been winning,” analyst Jeff Carlson told The Epoch Times’ “American Thought…
UK Platform IG Stops New Trades of GameStop and AMC
A British trading platform on Saturday announced it will block new trades of two U.S. stocks, GameStop and AMC Entertainment. “Due to extreme volatility, and to prioritise the service we give our existing clients, we are not allowing any new positions to be opened on the US stocks GameStop and AMC Entertainment,” IG Group said…
The Big Short 2.0—Crushing the Little Guy
Commentary Populism investing is here in a very big way, and Wall Street is not happy about it. What happened? Gaming GameStop Hedge funds have been heavily shorting GameStop (GME) stock this month. That means that they believed GME would fall in price. Savvy hedge fund managers at Melvin Capital and other Wall Street money…
GameStop Soars Again; Wall Street Bends Under the Pressure
Another bout of selling gripped the U.S. stock market Friday, as anxiety mounts over whether the frenzy behind a swift, meteoric rise in GameStop and a handful of other stocks will damage Wall Street overall. The S&P 500 dropped 1.9 percent, giving the benchmark index its biggest weekly loss since October. The Dow Jones Industrial…
New York Attorney General’s Office ‘Actively Reviewing’ Robinhood App Activity and Trading of GameStop Stock
New York Attorney General Letitia James’s office is “actively reviewing” activity related to the Robinhood application and the trading of GameStop stock.
Deep Dive (Jan. 28): Reddit Post Causes AMC, GameStop Shares to Soar
The Biden administration is facing another lawsuit, this time over an executive order halting oil and gas leasing on federal lands. The lawsuit argues that the administration’s suspension of the federal oil and gas leasing program is “an unsupported and unnecessary action that is inconsistent with the Secretary’s statutory obligations” and is “both arbitrary and capricious.”…
Small Investors Push Against Platforms’ Ban on GameStop Stock Buys
Small stock investors are fighting against broker platforms that have banned retail investors from buying certain stocks, including those of Gamestop (ticker: GME), which has been used by many small investors as a vehicle to force a short squeeze on hedge funds that aggressively shorted the video game retailer’s stock. The investors are accusing online…
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