This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here. Good morning. Let’s spin the roulette wheel, and see what the Reddit brigade is targeting today… Yep, it’s silver. You may have seen #Silversqueeze trending on Twitter this weekend. Well, this […]
Enlarge (credit: Innocenti | Getty Images) Melvin Capital, the hedge fund that was wrongfooted by retail traders who drove up shares in GameStop and other companies it had bet against, lost 53 percent in January, according to people familiar with the firm’s results. The New York-based hedge fund sustained a $4.5 billion fall in its […]
Enlarge / A closed GameStop store in Frankfurt, Germany, on Friday, Jan. 29, 2021. (credit: Alex Kraus/Bloomberg via Getty Images) You’ve probably seen stories about GameStop, the struggling video game retailer that has improbably seen its stock quintuple since the start of the week. The stock isn’t up because GameStop announced strong financial results or […]
This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. Of course it did. Just about every single late-stage company in private markets at the moment has been contacted by a blank-check company looking for a deal. Kicking off […]
If you’ve been on the Internet at all the past 24 hours, you probably haven’t been able to avoid the buzz about GameStop stock. But… you know… what the serious eff is going on?! Reddit users bankrupting a huge hedge fund by buying stock in a failing video game store? How and why and huh?? Related: […]
Unless you’ve been hiding under a rock you’ve probably seen the hype surrounding $AMC and $GME stocks. Read more…
Unless you’ve been hiding under a rock you’ve probably seen the hype surrounding $AMC and $GME stocks. Read more…
This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here. Good morning. With the exception of the dollar, the screens are a blur of red this morning. Bitcoin, crude, gold, global stocks, U.S. futures—they’re all faltering. Not even Reddit bulls can […]
Enlarge / Pop goes the bubble… (credit: Aurich Lawson / Getty Images) Last week, an epic short squeeze had driven GameStop stock up to $40 a share, a roughly 1,500 percent increase from its low point nine months ago. Little did anyone know at the time that this would only be the beginning of the […]
The hope for the little guy, which all of us are, is that one day hell would come to breakfast for the hedge-fund tools that are pretty close to ruining baseball, the country, and the globe. And at that point, through some inexplicable force that could only be karma, they would all have to work […]