In today's episode I talk about Gamestop (GME), AMC, Blackberry (BB), Nokia (NOK) and everything else going on with wallstreetbets and the massive short squeeze!
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The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners. Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3. Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
AMC Entertainment is exploring raising more capital, including through yet another possible stock sale, to weather the Covid-19 pandemic and take advantage of this week’s rally in its shares, people familiar with the matter said on Thursday. Naked Brand Group Limited a global leader in intimate apparel and swimwear, today announced that it has entered into securities purchase agreements with certain institutional investors for the issuance and sale of 29,415,000 of its ordinary shares at a price of $1.70 per share, for aggregate gross proceeds of approximately $50 million, in a registered direct offering priced at-the-market under Nasdaq rules.
Jaime Rogozinski, the founder and former moderator of WallStreetBets, has shared his thoughts on the run-up in stocks that the Reddit forum has played such a central role in. Speaking to National Public Radio, Rogozinski said watching the Reddit rally has been bittersweet: He likes the protest aspect of it because it points out "absurdities" in the markets, but he also said he wouldn't have allowed things to get to this point. "I was still the moderator, this wouldn't have happened. I prevented this type of thing frequently," said Rogozinski, who was removed as moderator last April amid a dispute with members.
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⚠️⚠️⚠️⚠️DISCLAIMER⚠️⚠️⚠️⚠️
I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Michael Wrubel MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Michael Wrubel's videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor, or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Michael Wrubel. Any use of other media is by fair-use or license only.
✅ Access My $575,000 Investing Account: https://bit.ly/3aNRzAn
📈 Get Four Free Stocks on WeBull(Valued up to $1600): https://bit.ly/333Em5M
🎙 The Stock Room Show: https://bit.ly/34fFF1L
🏦 Get $20 on M1 Finance: https://bit.ly/2xiaSUB
💰 Get $5 on Acorns Investing App: https://bit.ly/2SfogQw
💎 Get a Free Stock on Robinhood(Valued up to $200): http://bit.ly/3aLi4q5
The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners. Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3. Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
AMC Entertainment is exploring raising more capital, including through yet another possible stock sale, to weather the Covid-19 pandemic and take advantage of this week’s rally in its shares, people familiar with the matter said on Thursday. Naked Brand Group Limited a global leader in intimate apparel and swimwear, today announced that it has entered into securities purchase agreements with certain institutional investors for the issuance and sale of 29,415,000 of its ordinary shares at a price of $1.70 per share, for aggregate gross proceeds of approximately $50 million, in a registered direct offering priced at-the-market under Nasdaq rules.
Jaime Rogozinski, the founder and former moderator of WallStreetBets, has shared his thoughts on the run-up in stocks that the Reddit forum has played such a central role in. Speaking to National Public Radio, Rogozinski said watching the Reddit rally has been bittersweet: He likes the protest aspect of it because it points out "absurdities" in the markets, but he also said he wouldn't have allowed things to get to this point. "I was still the moderator, this wouldn't have happened. I prevented this type of thing frequently," said Rogozinski, who was removed as moderator last April amid a dispute with members.
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
⚠️⚠️⚠️⚠️DISCLAIMER⚠️⚠️⚠️⚠️
I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Michael Wrubel MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Michael Wrubel's videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor, or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Michael Wrubel. Any use of other media is by fair-use or license only.
