Pfizer will be able to supply the U.S. with 200 million Covid-19 vaccine doses two months sooner than previously expected https://t.co/80H7qcuVlE
ELI5: How is massive shorting of a stock any different than a pump and dump scheme besides the direction of the momentum?
So from what I understand, pump and dump is when you inflate a stocks price by coordinating a demand that by normal means does not exist to give a stock an upwards trajection that it should not have, and then selling high once other people are in on it. And what most of these hedge funds did was to short stocks that were priced fairly to dip them into lows they should not have been in the first place to profit by covering their positions at low prices. How are these 2 things different in any way besides one targeting the bulls and the other targeting the bears?
A new watchdog group will track companies that hire people who worked as top aides to former President Trump https://t.co/6G4IhDaqjo
New Zealand is likely to keep its border closed to the world through most of 2021, Prime Minister Jacinda Ardern said. For travel to restart, she said: “We either need the confidence that being vaccinated means you don’t pass Covid-19 on to others — and we don’t know that yet — or we need enough of our population to be vaccinated and protected that people can safely re-enter New Zealand. Both possibilities will take some time.” The country will continue to pursue travel bubbles with Australia and some Pacific Islands. Link in the bio to read more.
● GameStop nearly doubled in Tuesday trading, taking its market value over $10 billion as its shares soared 685% this year. Link in bio for the full story.⠀ ⠀ ● The stock’s gain vaulted its market value past more than 10% of S&P 500 stocks including American Airlines, Under Armour and Invesco. It started the year with a market capitalization of $1.2 billion.⠀ ⠀ ● Better-known names piled into the stock today with venture capitalist Chamath Palihapitiya pushing the gains higher during trading hours after tweeting about buying calls. Elon Musk later tweeted a link to a Reddit thread about the company.⠀ ⠀ ● GameStop surged as much as 68% in extended hours, climbing past $240 a share at one point after soaring 93% during the regular trading day.
Elon Musk tweeted “I kinda love Etsy,” and shares jumped on Tuesday. In a follow-up post, Musk explained that he had “bought a hand knit wool Marvin the Martian helm (sic) for my dog” and posted a picture of it. Shares gained as much as 8.6% and hit an intraday record. It’s the second time this month the Tesla CEO drove up a stock with the push of a social media button. Link in bio for more.
HSBC CEO Noel Quinn defends the lender to U.K. lawmakers against accusations it had become a tool of the Chinese authorities https://t.co/691u9SC5Vx
Drop a 💯 if you agree.
Florian Homm titled his 2012 memoir "Rogue Financier: the Adventures of an Estranged Capitalist." Now he faces allegations of a $200 million fraud. His trial on charges including criminal mismanagement, money laundering and forgery is scheduled to start in a Swiss court today. The German hedge-fund manager, who founded Cayman-Islands based Absolute Capital, has already fended off U.S. extradition over what prosecutors called "portfolio pumping." Homm denies the charges. Link in bio for more. 📷: Florian Homm in 2004. By Christof Koepsel/Bongarts/Getty Images
Billionaire investors Steve Cohen and Ken Griffin pour $2.8 billion into a GameStop short seller https://t.co/uwaAlX7H1b
'Big Short' investor Michael Burry blasts Reddit-fueled GameStop rally as 'unnatural, insane, and dangerous' https://t.co/yo3GBjEPUW
Today in tech: - Google stops donations to U.S. Congress members who voted against election results - Twitter permanently suspends My Pillow CEO for election misinformation - Grindr faces $11.7 million fine in Norway for breach of data privacy https://t.co/jdqLjGSRVI
Thinking about meaning in five pillars — belonging, purpose, competence, control, and transcendence — can help you reinvent your life. https://t.co/C4skTnJ9gC