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Hedge fund Melvin Capital closed out its short position in videogame retailer GameStop Corp., CNBC reported Wednesday. Fund manager Gabe Plotkin told CNBC's Andrew Ross Sorkin that the position was closed out Tuesday afternoon following a huge loss. Shares of GameStop have soared more than 600% in January after retail investors, organized via Reddit's WallStreetBets forum and other platforms, sought to push up a handful of heavily shorted stocks. Hedge funds Citadel and Point72 infused nearly $3 billion into Melvin Capital to shore up the fund, news reports said earlier this week. Plotkin told CNBC that speculation the fund would...

A usually reliable source informs me that the Walmarts in the area are doing land office business. Something like 50% more than normal, with one store having over double expected. I don't know of any specific news that would drive this, perhaps the smelly Walmart shoppers are prepping for a long Dark Winter?

“The big boys are no longer bullish,” bellowed Biggie Too in baritone. “The big boys are now bubble bullish,” continued the chief investment strategist for one of Wall Street’s Too-Big-To-Fail affairs. “They ask Biggie, why can’t the S&P trade 5,500?” said Too, easing into third person. “And Biggie asks ’em back: We got 6% GDP and 1% rates, who’s gonna short this?” he said. “You do the math, you gonna tell Biggie to short this thang?” asked Too. And I shrugged, having long since learned to recognize when Biggie’s question is the answer.“No one’s gonna short the S&P unless 6%...

Stocks rose Wednesday, extending Tuesday’s advances as investors looked ahead to the first actions of the incoming Biden administration. Each of the three major indexes rose, and both the S&P 500 and Nasdaq hit record intraday highs. Shares of Netflix (NFLX) spiked 12% after the company added more users than expected in the fourth quarter and surpassed 200 million paid subscribers for the first time ever. On Wednesday, all eyes turned to the inauguration of President-elect Joe Biden, which took place at the West Front of the Capitol just noon before in a scaled-down, socially distant event. In his first...

Wall Street may be facing an uncomfortable four years after President-elect Joe Biden’s team confirmed on Monday it planned to nominate two consumer champions to lead top financial agencies, signaling a tougher stance on the industry than many had anticipated. With Republicans appearing to have a good chance to maintain control of the Senate following the Nov. 3 election, financial executives had hoped Biden would pursue more moderate picks. But Democratic victories in two Georgia run-off elections earlier this month mean Democrats will have effective control of the chamber once Biden and Vice President-elect Kamala Harris are sworn in on...

Dear Chuck, Is America heading towards an economic collapse? If so, how do I prepare? Worried Boomer Dear Worried Boomer, My view is we are headed towards another economic crisis with a low risk of an actual economic and/or currency collapse. In either scenario, there are ways to be prepared. Economic Crisis vs. Collapse An economic crisis is different from a collapse. America has worked through several in my lifetime: ‘70s stagflation, ‘81 recession, ‘89 savings and loan crisis, post-9/11 recession, ‘08 great financial crisis, and the 2020 coronavirus crisis we are in now. A collapse is brought on by...

The U.S. Congress is in the process of approving a new stimulus package designed to counteract the damage from the COVID-19 pandemic. Pledging to spend $900 billion on stimulus checks, unemployment benefits, and other perceived benefits for both companies and the American people, this deal is set to help people get through the late stages of this practical nationwide lockdown. If this bill would have emerged a year ago, it would have been the most expensive spending bill in American history. But of course, that record was set by the $2.2 trillion stimulus package passed by Congress in March 2020....

Facebook and Twitter, the two largest social media platforms to permanently ban President Donald Trump for his role in last week's Capitol riots, saw $51.2 billion in combined market value erased over the last two trading sessions. Companies across sectors have responded to the president's rhetoric in recent days by pausing political donations, making statements decrying his inflammatory remarks, and pulling products with links to right-wing movements. Facebook and Twitter possibly took the biggest retaliatory steps when they indefinitely banned Trump from their platforms on Thursday and Friday, respectively. Both companies cited the risk of additional violence for their bans,...

Twitter’s overt leftist activism has been put on global display in the months leading up to the election and afterward. Recent research showed that the platform had censored Trump and his campaign a grand total of 625 times since May 31, 2018. By contrast, President-elect Joe Biden and his campaign haven’t been censored at all during that same time period. A recent MRC survey of 1,000 actual voters showing the effects of Big Media and Big Tech’s censorship of negative Biden stories found that “36 percent of Biden voters were NOT aware of the evidence linking Joe Biden to corrupt...

Facebook sank as much as 4.5% on Monday as investors continued to balk at the platform's ban of President Donald Trump. The slide saw $33.6 billion erased from Facebook's market cap at intraday lows. Shares have since pared some losses and now trade about 2.6% lower. The stock's decline comes as Wall Street reconciles with the president's role in encouraging supporters to storm the Capitol on Wednesday. Facebook CEO Mark Zuckerberg announced on Thursday the company would ban Trump "indefinitely," adding the risks of allowing him to remain on the platform "are simply too great." Twitter, which permanently banned Trump...

It looks as though Big Tech is learning a very staunch financial lesson on your Monday morning. Twitter has now lost over $5 billion in market share since opening bell on Monday, as the tech giant faces major backlash after banning President Trump. The massive fall is following the platforms banning of President Donald Trump, General Michael Flynn, Lin Wood, Sindey Powell, and a slew of other high profile conservatives the site banned in the last 72 hours. Banning the leader of the free world is not only a violation of the 1st amendment, but part of yet another coup...

Twitter’s stock price tumbled early Monday as investors appeared to balk at the social network’s decision to ban President Trump from posting. Shares in the San Francisco-based company tumbled 7.5 percent to $47.60 as of 8:07 a.m. in the first premarket trading session after it booted Trump from the platform on Friday, saying his account posed a “risk of further incitement of violence” after his supporters stormed the US Capitol on Wednesday. Twitter’s move against the outgoing president — whose account had more than 88 million followers — was the first permanent suspension for a head of state, and it’s...

Shares of the Palo Alto, Calif.-based company fell more than 10% at the opening bell, erasing more than $2.5 billion from Twitter’s $41 billion market capitalization. Facebook Inc. and Alphabet Inc. were also lower after Trump’s accounts were removed from their platforms.

Interest rates took off last week as investors grew more confident in an economic recovery. One problem: Stocks may be ill prepared for the increase. The yield on 10-year Treasury debt rose to 1.1% by Friday from 0.91% to end Monday.

Yahoo Finance Stock market news live updates: Stocks rise after Congress certifies Biden victory after unrest, jobless claims improve Emily McCormick Emily McCormick·Reporter Thu, January 7, 2021, 10:20 AM EST U.S. stocks gained Thursday morning as traders shook off Wednesday’s unrest in Washington and looked ahead to the policy implications of the incoming presidential administration and Congress. The Dow added more than 150 points, or 0.5%, shortly after the opening bell. Overnight, Congress certified President-elect Joe Biden’s victory in the Electoral College and formally recognized him as the next president, with lawmakers reconvening hours after protesters supporting President Donald Trump...

Stocks dropped on Monday, the first trading day of 2021, amid concerns about global coronavirus cases and the Georgia runoff elections. The Dow Jones Industrial Average traded 706 points lower, or 2.3%. The S&P 500 dipped 2.4%, and the Nasdaq Composite slid 2.5%. Both the Dow and S&P 500 hit record highs at the open. Coca-Cola and Boeing were the worst-performing Dow components, falling 4.9% and 4.8%, respectively. Real estate fell 3% to lead the S&P 500 lower. Wall Street is keeping an eye on Georgia as the state prepared for Senate runoff elections on Tuesday, which could give Democrats...

Investors will have their eyes peeled on the Georgia run-off elections on Tuesday to determine which party will control the Senate. A Democratic win of the two contested Senate seats could trigger a selloff in the markets, according to Oppenheimer strategist John Stoltzfus. “Should the Democrats win both seats, we expect the S&P 500 to become vulnerable to a downdraft in the neighborhood of 6% to 10%,” wrote Stoltzfus in a note to investors. “In our experience the markets prefer that Washington’s Capitol Hill have enough checks and balances in place to keep political power out of just one party’s...

let's say i have $100000. i want a short term investment portfolio (until EOY) consisting of SPY, AMZN, AAPL, AMD, TSLA (and possibly others) in some proportions. what should be the proportions? i already have most of these. thanks.

Chinese internet firm Sina Corp. agreed to go private and delist from Nasdaq, twenty years after its landmark U.S. IPO that led to a wave of Chinese companies listing their shares in the United States. Sina’s decision was crystallized after an entity led by its chairman Charles Chao sweetened the acquisition offer to $43.30 a share. New Wave Holdings, the entity making the takeover bid, increased its offer from its initial one in July 2020 of $41 a share. Inglorious End of a Trailblazer Sina was founded in 1998 by a group of software engineers and started out as an...

Dec. 22 (UPI) — The Dow Jones Industrial Average and the S&P 500 slid on Tuesday amid growing COVID-19 concerns despite Congress finally passing a long-awaited relief package. The Dow ended the day down 200.94 points, or 0.67%, and the S&P 500 dropped 0.21% as Tesla stock dropped 1.46% in its second day on the index, while the Nasdaq Composite gained 0.51% with Apple stock rising 2.85%.