A London-based hedge fund that bet against GameStop is shutting down following double-digit percentage losses suffered during the first meme stock rally in January, according to a report published Tuesday by the Financial Times. The report cites people familiar with the fund. White Square Capital, which reportedly ...Read More

London (CNN Business)In the early weeks of 2021, amateur traders backing meme stocks like GameStop (GME), AMC Entertainment (AMC) and BlackBerry (BB) captured the world’s attention. As spectacular gains triggered huge losses for hedge funds that bet the shares would fall, a David versus Goliath narrative took hold. Finally, the little guy was triumphing ...Read More

Congress is holding a hearing this week to discuss the GameStop saga, in which an army of retail investors conspired on Reddit’s WallStreetBets channel to take on hedge funds that were betting against the video game retailer. Some say the viral sensation was little ...Read More

By Jack Kelly   The pandemic brought upon us a lot of lunacy. One of the weirder quirks of the covid outbreak was that people found themselves stuck at home with time on their hands and unemployment and stimulus checks in their pockets.   ...Read More

Gazzilionaire Citadel hedge fund operator Ken Griffin has been summoned to Washington—and it’s not for a tour of the monuments. Griffin is anticipated to testify before Congress. He’ll be grilled on his firm’s involvement with the imbroglio of a Reddit social media mob of ...Read More

By Jack Kelly The Reddit WallStreetBets gang, along with Robinhood touting the hottest stocks being bought on its platform and an ever-growing army of day traders, have all piled onto “meme stonks” sending them to stratospheric heights. Gen-Z and Millennials—and now the older crowd ...Read More

NEW YORK (Reuters) – Months before the irrational trading in GameStop Corp, there was Hertz Global Holdings Inc. Operating under bankruptcy protection last spring once the COVID-19 pandemic wiped out its business, the car-rental giant confronted an extraordinary situation: Its stock price was skyrocketing ...Read More