Category: GME Stock (Page 1 of 3)

Citadel Has a Long History of Market Manipulation

Citadel Market Manipulation
Market News: Citadel and friends are entering the crypto space | Ken Griffin.

Ken Griffin and friends are entering the crypto world very soon — investors are concerned as Citadel has a history of several violations and fines.

EDX Markets plans to bring ‘traditional finance’ to the crypto space, a not so ‘traditional’ space to begin with.

The exchange made up of Citadel, Sequoia, Paradigm, Virtu, Charles Schwab, and Fidelity is debuting in November.

EDX Markets will start trading a limited number of spot, crypto tokens starting with a November trial period, with the official launch in January, per Bloomberg.

Similar to trading equities and options, EDX will allow investors to buy and sell digital assets through their existing broker dealer, rather than an outside venue or directly through a crypto-native exchange. 

“We’re taking some of the best features of traditional finance and bringing it to the digital markets to make it more efficient, and bring that cost saving to investors,” Nazarali said.

Nazarali is the former global head of business development at Citadel Securities.

But as many are aware, these financial institutions have a long history of playing unfair.

Will these sharks taint the crypto space too?

Let’s look at Citadel’s market manipulation history as well as other Citadel violations and fines in the past.

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Citadel Market Manipulation

Citadel Fines and market manipulation.
Citadel violation and fines – market manipulation.

2015

In 2015, an account operated in China by the brokerage arm of US hedge fund Citadel was suspended.

It was the latest casualty of regulators’ hunt for market manipulators and short sellers at the time.

The China Securities Regulatory Commission said that the Shanghai and Shenzhen stock exchanges had suspended 24 accounts as part of a probe into high-frequency trading.

The investigation focused on a practice known as “spoofing” in which an investor submits a buy or sell order but then withdraws it before a sale is completed — a practice that can mislead investors by creating the false impression that a stock is trading at a particular price.

Citadel confirmed that one of its accounts managed by Guosen Futures was among those suspended.

2017

SEC Citadel

In 2017 Citadel was fined by the SEC $22.6 million to settle charges of misleading conduct.

The hedge fund misled customers about the way it priced trades.

The SEC found that between 2007 and 2010, Citadel used two algorithms to execute stock trades on customers’ behalf that gave investors a worse price for their trades, even when Citadel knew better prices existed elsewhere.

“This affected millions of retail orders,” said Stephanie Avakian, the acting director of enforcement at the SEC at the time.

Citadel neither admitted nor denied the findings.

2021

Citadel violations and fines.
Citadel violations and fines – market manipulation.

In 2021, Failure-to-Delivers (FTDs) rose dramatically in the period leading up to January 28th, 2021, a phenomenon consistent with increasing short interest by market makers such as Citadel Securities.

FTDs are indictive of naked short selling, which occurs when a short seller does not actually possess the security it is supposed to borrow.

This practice is largely inaccessible to individual investors but accessible to market makers.

At the time, Citadel, Robinhood, and others restricted retail investors from buying ‘meme stocks’ in order to prevent escalating institutional losses.

Citadel eventually lost billions after betting against AMC Entertainment in 2021.

But the entire system needs a refresh – The DTCC waived a total of $9.7 billion of collateral deposit requirements on January 28, 2021, saving brokers, and screwing up retail investors.

2022

The Chicago Tribune published a piece explaining exactly what retail investors have been warning the SEC about.

Citadel Securities’ dark pool dominates a big part of the financial world, accounting for as much as half of U.S. stock market activity.

The Chicago Tribune says this prominent dark pool is run by Chicago Billionaire Ken Griffin’s Citadel Securities and has been targeting small scale retail investors.

And they’re not wrong.

Dark pools are typically involved in payment for order flow (PFOF), where they pay broker firms to receive retail order flow.

Brokers such as Robinhood and TD Ameritrade accept payment for order flow.

But retail investors have been bringing these nefarious practices in the market to light.

Related: Biotech Company Suing Citadel Over Market Manipulation

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Here’s How Meme Stocks Performed This Week

The performance of so called ‘meme stocks’ will be updated every week below. The latest news will also be available for your reading pleasure.

Optin for push notifications or join the newsletter to receive a weekly reminder straight to your inbox.

Here’s how meme stocks performed for the week of: 2/27-3/3

Here's how meme stocks performed this week: GameStop (GME).
Here’s how meme stocks performed this week: GameStop (GME).

#1. GameStop

GameStop Corp. (NYSE:GME) closed: up -4.79% this past trading week.

The latest press release details the retailer’s earnings for the third quarter of fiscal year 2022.

During that period, GameStop reported net sales of $1.186 billion, down from $1.297 billion a year ago.

Gross profit tallied in at $291.6 million, while selling, general and administrative expenses were $387.9 million.

That led to a net loss of $94.7 million compared to a net loss of $105.4 million the previous year.

According to an amended Schedule 13G filingVanguard owns a total of 24.66 million shares of GME as of Dec. 30, equivalent to an 8.1% ownership stake.

As of Q3, the firm owned 24.16 million shares, meaning it purchased about a half a million shares during Q4.

Here's how meme stocks performed this week: AMC Entertainment (AMC).
Here’s how meme stocks performed this week: AMC Entertainment (AMC).

#2. AMC Entertainment

AMC Entertainment Holdings, Inc. (NYSE:AMC) closed the week: up +4.28% this past trading week.

The company stock is now making higher highs and higher lows in 2023.

In recent news, AMC and its board members, including CEO Adam Aron, are getting sued by a pension fund.

The latest lawsuit comes from the issuance of AMC’s preferred equity, APE.

The shareholder vote to either convert APE equity back into common AMC shares or go through a reverse stock split has been delayed — though Adam Aron has not made an official statement yet.

Read: AMC Failure-to-Delivers Are Skyrocketing Through the Roof

#3. APE

AMC Preferred Equity (NYSE:APE) closed this week: down -17.65%.

The equity has risen more than +90% this year after surging from $0.35 to more than $3 per share earlier this year.

44% of shareholders say they hold more APE over AMC stock.

The company is also proposing converting APE shares back into common AMC stock through a shareholder vote.

If approved, AMC’s share price will rise and the equity will be delisted.

APE has been able to provide the company with hundreds of millions of dollars in liquidity to pay down debt.

Will APE squeeze prior to the merge (if approved)?

Leave your thoughts below.

Related: AMC CFO Sean Goodman Cashes in $230K of APE

Here's how meme stocks performed this week: Bed Bath & Beyond (BBBY).
Here’s how meme stocks performed this week: Bed Bath & Beyond (BBBY).

#4. Bed Bath & Beyond

Shares of Bed Bath & Beyond (NASDAQ:BBBY) were: down -5.04% in the past trading week.

On social media, shareholders of the so called ‘meme stock’ continue to buy the stock despite talks of bankruptcy.

The company edged closer to a bankruptcy filing in late January after the retailer said it had received a default notice from JPMorgan Chase & Co., its loan agent, and warned it didn’t have enough funds to make payments. 

Creditors are demanding immediate repayment of the company’s debt after it breached the terms of a credit line, according to a regulatory filing Thursday, per Bloomberg.

“Generally, in situations like this where a company defaults on their loan agreement our experience is, if they don’t come to an agreement with their lenders, the likelihood of a bankruptcy filing within the next 30 days is relatively high,” said Dennis Cantalupo, chief executive officer of Pulse Ratings, a credit-rating and consulting firm.

BBBY stock is up +1.73% this year-to-date.

Here's how meme stocks performed this week

#5. Hycroft Mining Holding Corporation

Shares of Hycroft Mining (NASDAQ:HYMC): rose +0.86% in the past week.

The mining company’s stock is down more than -28% this year-to-date.

In December, the company’s share price jumped 25% after announcements it had discovered more silver and gold deposits than anticipated.

Shares rose to $0.57 from a previous low of $0.44.

AMC CEO Adam Aron made the exciting announcement on Twitter stating, “so far ALL 20 of the newly drilled bores contained gold/silver, and 14 of the 20 showed higher grades than previously known to Hycroft.

AMC acquired a 22% stake in the silver and gold mining company in 2022 when they received 23.4 million warrants in Hycroft at $1.07 per share.

The stock at the time surged to $1.70 after trading at $0.60 earlier that same year.

More updates coming soon

market news - meme stocks this week

This page will get updated every week with news, performance, and updates.

Readers are receiving updates like this from various stocks and news daily via push notifications or from the newsletter.

Are you holding any of these ‘meme stocks’?

Leave your thoughts on this week’s performance or ideas on how to make this page better down in the comment section.

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Steve Cohen’s Point72 Buys 606,000 Shares of GameStop

Market News: Steve Cohen's Point72 Buys 606,000 shares of $GME stock.
Market News: Steve Cohen’s Point72 Buys 606,000 shares of $GME stock.

(Business Insider) Steve Cohen’s Point72 supersized its bet on Elon Musk’s Tesla last quarter and made an unexpected wager on GameStop (NYSE:GME) stock.

The billionaire investor’s hedge fund purchased nearly 878,000 Tesla shares, worth $108 million as of December 31.

It also held bullish call options on another 60,500 shares of the automaker at the year’s end, a Securities and Exchange Commission filing revealed earlier this week.

Cohen and his team scooped up 606,000 shares of the video-game retailer, a stake worth $11 million as of December 31.

In 2021, the New York Mets owner deactivated his Twitter account after receiving several threats from users during the ‘meme stock’ rally.

“I’ve really enjoyed the back and forth with Mets fans on Twitter which was unfortunately overtaken this week by misinformation unrelated to the Mets that led to our family getting personal threats,” Cohen said in a statement.

Cohen’s hedge fund, which managed nearly $19 billion in assets at the time, lost nearly 15% after retail investors caused shares of videogame retailer GameStop to surge in 2021.

The losses at Point72 are mainly due to the company’s investment in hedge fund Melvin Capital, which bet against GameStop and had to receive nearly $3 billion in emergency cash from two outside investors, one of which was Point72.

Melvin Capital shut its doors in June of 2022.

GameStop News Today

Market News: Latest GME stock news.
Market News: Latest GME stock news.

Today, GameStop shareholders are looking to recreate the events that occurred in 2021 when stocks soared to all-time highs.

One creative way ‘apes’ are fighting Wall Street in 2023 is by registering their shares via a Direct Registration System, or DRS.

The company says at least 30% of its shareholders have registered their shares with the Direct Registration System (DRS) which equates to approximately 71.3 million shares.

The efforts from retail investors come as a means to prevent manipulative short seller attacks.

By registering their shares, company stock can no longer be lent out to short sellers.

$GME stock is up more than +25% this year-to-date.

Related: Will DRS Trigger a GameStop Short Squeeze?

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Market News: Latest GME stock news.

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Goldman Says Bigger Short Squeezes Coming Since Meme Stock Frenzy

Goldman Sachs Short Squeeze
Market News Today: Goldman Sachs talks short squeezes in 2023.

Goldman Sachs (NYSE:GS) is reporting hedge funds betting against stocks globally abandoned those short positions last week at the fastest pace since 2015, surpassing the speed of exits during the ‘meme stock’ frenzy in 2021.

The latest short squeeze, implying that stock prices rose so much that bearish bets become too expensive to hold, saw hedge funds caught out by a sharp rally in equities on Feb. 2 after the U.S. Federal Reserve slowed the pace of interest rate hikes and markets anticipated that rates would peak soon, per Reuters.

According to the Goldman note, the speed at which hedge funds exited bearish positions surpassed that seen in January 2021 when retail traders managed to squeeze short sellers out of stocks such as videogame retailer Gamestop (NYSE:GME) and movie theatre operator AMC Entertainment Holdings (NYSE:AMC).

During the ‘meme stock’ frenzy in 2021, GameStop shares rose to nearly $500 per share, or +1,500% that year.

AMC shares rose from $2 early that year to an all-time high of $72 per share, more than +3,000%.

Today, both AMC and GameStop remain heavily shorted with AMC Entertainment having a higher-than-ever cost to borrow fee.

Experts say hedge funds remain bearish

Despite the massive short covering, hedge fund managers do not seem to be more upbeat about markets.

“Positioning isn’t ‘high’ and it doesn’t seem like many investors are bullish, per se,” JPMorgan’s Positioning Intelligence said in a note reviewed by Reuters, adding it has also seen hedge funds adding some shorts in highly shorted stocks.

It seems institutional investors are not entirely switching sides yet but are continuing to add to their short positions on already heavily shorted stocks.

Still, short interest in both AMC and GameStop has both risen and fluctuated, signaling few shorts closing.

AMC Entertainment stock is up more than +60% this year-to-date, GME stock more than +34%.

The movie theatre chain has a high short interest of 22.84% with an extremely high cost to borrow of 239.91%.

Hedge funds will need to determine whether it’s worth paying millions of dollars per month in fees just to short AMC stock.

A short squeeze may be triggered at any moment as this weight gets too heavy.

Industrials and Information Technology Companies

The largest short positions held by hedge funds were in industrials and information technology companies, the Goldman note said.

It added that hedge funds also exited many long positions in Asian developing markets and Chinese equities last week.

Resurgent risk appetite among some investors has also fueled rallies in the shares of so-called meme stocks since the start of this year, though many analysts are skeptical the recent moves will last, said Reuters.

But I disagree.

AMC Entertainment may have bottomed out as we see the stock price bounce and retest major levels of support.

The company’s high short interest and cost to borrow has grown substantially over the past two years.

Major price action may trigger short sellers to close their positions, initiating a chain reaction that will lead to a short squeeze.

The short thesis for AMC Entertainment is getting weaker as new developments surface in the entertainment industry.

Goldman Sachs is right, massive short squeezes are coming.

And the retail investor is about to put Wall Street upside down again, just like they did during the ‘meme stock’ frenzy of 2021.

Market News Published Daily

Market News Today - Goldman Sachs talks short squeezes in 2023.
Market News Today – Goldman Sachs talks short squeezes in 2023.

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Top 5 Stocks Outperforming the Market Already This Year

Stock Market 2023: Top stocks outperforming the SPY.
Stock Market 2023: Top stocks outperforming the SPY.

The SPY is currently up +9.44% entering the second month of the year.

Shares of the S&P 500 index are trading at $416.78 at the time of this publication.

Last year, the index came down more than -10% bringing many companies down -50% to more than -80% on the year.

Today, stocks seem to be doing much better than experts and analysts anticipated.

Short sellers are currently down $81 billion this year-to-date.

Despite coming from a bear market, and all signs signaling an upcoming recession, early investors in some stocks are already killing it.

Here are 5 stocks currently outperforming the market already this year.

  1. Biora Therapeutics (NASDAQ:BIOR) +73.62%
  2. AMC Entertainment (NYSE:AMC) +54.71%
  3. AMC Preferred Equity (NYSE:APE) +135.83%
  4. Peloton Interactive (NASDAQ:PTON) +109.11%
  5. Tesla Inc. (NASDAQ:TSLA) +74.16%

#1. Biora Therapeutics (BIOR) Stock

Stock Market 2023: Top stocks outperforming the SPY.

Biora Therapeutics (NASDAQ:BIOR), formerly known as Progenity (PROG) stock was up more than +182% in the first week of the new year.

Today, BIOR stock is up more than +73% this year.

The stock surged from $2 per share and peaked around $7.36 last in only the second week of the new year.

BIOR is extremely shorted, we’re talking about the company being one of the most shorted stocks in the market at the moment.

Ortex is reporting the company to have a whopping 243.95% short interest.

Why did BIOR stock surge so much this year already?

Biora Therapeutics is on track to move into clinic with its lead targeted therapeutics program.

If approved, it will be massive for the company and for shareholders alike.

Read More BIOR Stock News Here

#2. AMC Entertainment (AMC) Stock

Stock Market 2023: Top stocks outperforming the SPY.

AMC Entertainment (NYSE:AMC) stock continues to be one of the biggest ‘meme stocks’ even after its massive debut in 2021 when shares rose from $2.50 to $72 later that year.

The stock, at the publication of this article, is trading at $6.08, the same share price it was two years ago before gaining serious traction.

AMC Entertainment continues to improve its fundamentals and remains the #1 leader in the movie theatre industry.

While online streaming has grown to become quite popular, especially during the pandemic, experts are beginning to weigh in on AMC’s side in 2023.

CNBC stated, “Netflix has backtracked on its previous policies, including by introducing an ad-supported subscription option, leading many to wonder whether the company should rethink its resistance to the traditional Hollywood movie release model as it looks for new ways to grow revenue.

Even Amazon associates who asked not to be identified, per Bloomberg News, are stating the company plans to invest $1 billion per year in the movie theatre industry.

The world’s largest online retailer aims to make between 12 and 15 movies annually that will get a theatrical release.

“While a $1 billion annual investment for film development is on the lower end of what major Hollywood studios spend each year, it’s a positive sign for the movie theater business, which has struggled in the wake of the pandemic”, said CNBC.

#3. AMC Preferred Equity (APE)

AMC Preferred Equity (NYSE:APE) is currently up +135.83% this year-to-date.

The equity made its debut in August of 2022 as a dividend for AMC shareholders.

AMC Entertainment has been able to capitalize on the equity by using funds to pay off debt and raise capital for the company.

Shares have plummeted since its inception; however, we’re seeing APE shares outperform the market too.

Plans to merge APE shares with AMC common stock will soon be up for shareholders to vote on.

Also Read: AMC Warns Short Sellers of Possible APE Short Squeeze

#4. Peloton (PTON) Stock

Peloton Interactive, Inc. (NASDAQ:PTON) is an American exercise equipment and media company based in New York City.

The company’s products are stationary bicycles, treadmills, indoor rowers equipped with Internet-connected touch screens that stream live and on-demand fitness classes through a subscription service.

Company shares are up +109.11% year-to-date.

Peloton recently brought Leslie Berland, Twitter’s former marketing head, as its next chief marketing officer, per Bloomberg news reports.

She previously helped lead American Express for 10 years.

Peloton is trying to shift the tides after a rough 2022, when its stock dropped more than 75%.

The company in November posted wider losses than analysts expected for its first fiscal quarter.

Berland said in an announcement that she is “thrilled” to join the company at this “unique moment in its transformation journey.”

Read More Market News Here

#5. Tesla Inc. (TSLA) Stock

Stock Market 2023: Top stocks outperforming the SPY.
Stock Market 2023: Top stocks outperforming the SPY.

Tesla Inc. (NASDAQ:TSLA) had one of its worst years yet in 2022.

However, the company stock is outperforming the market today already gaining +74.16% in gains this year-to-date.

Tesla CEO Elon Musk sold 22 million shares of the company last year cashing in approximately $3.6 billion earlier in December according to this SEC filing.

After the massive selloff, Elon said during a Twitter space call that he will not sell any Tesla shares for about two years.

Musk said he sees a ‘serious’ recession in 2023 and is preparing for a worst-case scenario.

And although experts are saying a recession is likely to strike the U.S. economy during the first quarter of 2023, the company stock seems to be performing quite well today.

Related: Is Tesla Stock a Buy Right Now or Should You Wait?

Honorable mentions

#6. Hycroft Mining Holding (HYMC) Stock

Shares of Hycroft Mining (NASDAQ:HYMC) rose 25% earlier this year when the company announced it had discovered more gold and silver than it had anticipated.

Majority of the company is owned by AMC Entertainment.

22% of the company to be exact.

When the movie theatre chain acquired the mining company, headquartered in Nevada, shareholders followed.

Hycroft was able to raise an incredible $195 million in just two weeks after the acquisition.

Today, company shares are up nearly +10.31% year-to-date.

#7. GameStop Corp. (GME) Stock

GameStop Corp. (NYSE:GME) shares are currently up +31.98% year-to-date.

GME stock continues to be a retail investors favorite despite its popularity coming down since the ‘meme stock’ frenzy of 2021.

Today, shareholders are registering their shares through DRS to prevent short sellers from attacking the company stock.

According to GameStop, approximately 30% of GME’s float is registered with the Direct Registration System (DRS).

This equates to 71.3 million retail shares.

How much of GME’s float is owned by retail investors?

Nearly 70% of the float is owned by individual shareholders according to Vickers Stock Research.

While DRS certainly prevents the company from being shorted, it’s only one piece of the puzzle for a GameStop short squeeze.

Shareholders will need to create massive buying pressure next.

Read More About GameStop and DRS Here

Check out the latest market news for retail investors!

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GameStop Says 30% of Shareholders Have Registered Their Shares

Market News: At least 30% of GameStop shareholders have registered their shares.
Market News: At least 30% of GameStop shareholders have registered their shares.

GameStop says at least 30% of its shareholders have registered their shares with the Direct Registration System (DRS).

According to the filing, approximately 30% of GME’s float is registered equating, to 71.3 million shares.

The efforts from retail investors come as a means to prevent manipulative short seller attacks.

GME stock is trading at $21.66 on Monday with trading volume surpassing the company’s average volume of 5.1 million.

Shares of GameStop (NYSE:GME) are up +26% this year-to-date, a great start to the new year.

On Monday, GameStop shares have risen more than 11% intraday where shares rose to nearly $22.50.

GME’s short interest is currently sitting at 23.55% with approximately 95 million shares out on loan.

This means that despite DRS, the game retailer continues to be heavily shorted.

GameStop Ownership Structure

How much of GameStop’s float is owned by retail investors?

Nearly 70% of the float is owned by individual shareholders according to Vickers Stock Research.

GameStop Ownership Structure - Franknez.com.
GameStop Ownership Structure – Franknez.com.

This means nearly 40% of retail investors have not registered their GameStop shares through DRS.

Yet it’s very possible the percentage of GameStop shareholders who have registered their shares has grown in the past months.

GameStop’s Chair Ryan Cohen himself owns more than 12% of GME shares.

These are held through Ryan’s holding company RC Ventures, which Vickers considers to be Institutional ownership (12% on graph).

Is DRS working out for GameStop shareholders?

It very well could be, considering GME shares are up nearly +26% this year despite having a high short interest rate.

AMC Entertainment (NYSE:AMC) stock on the other hand is up +44% this year despite DRS being significantly less popular within shareholders.

The movie theatre stock is also heavily shorted at 21.96%.

And according to AMC’s CEO, roughly 90% of shareholders own the float.

Where is GameStop headed in 2023?

GameStop 2023
30% of GameStop Shareholders have registered their shares according to GameStop.

GME stock has the potential to have a big year in 2023.

GameStop continues to be a popular company amongst retail investors, primarily due to the massive community of shareholders who are looking to squeeze short sellers again.

During the spark of the ‘meme stock’ frenzy, GameStop shares rose to $483 per share, a superior all-time high.

But shareholders are not convinced the stock is done running.

2023 opens up new possibilities for GameStop as e-commerce, NFTs, and Web 3.0 gaming continues to grow.

While the company may benefit from arming itself with more short-term capital, GameStop enters the new year with positive cash flow, an incredible start for the company as many continue to struggle.

Also Read: Occupy the SEC 2023 is Here: What’s Happening?

Market News Published Daily

Market News, Business News, Updates + more by Frank Nez.
Market News, Business News, Updates + more by Frank Nez.

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Big Reddit Stocks Worth Putting on Your Watchlist This Year

Reddit Stocks 2023
Here are 7 Reddit stocks you’ll want to keep an eye out on in 2023.

Reddit stocks have become more and more popular as we saw penny stocks such as GameStop (GME) and AMC Entertainment (AMC) explode to all-time highs during the ‘meme stock’ frenzy two years ago.

In late January of 2021, GameStop shares rose to nearly $500 before getting halted.

At the same time, AMC Entertainment stock had risen from $2.50 to $22 per share only to peak at $72 five months later in June.

Since then, investors have been wanting to find the next BIG Reddit stocks that might just have the potential to yield +1,000% (thousands) in percentage gains.

While there are never any guarantees, here are 7 Reddit stocks gaining traction that are worth putting on your watchlist this year.

  1. Mullen Automotive (MULN): Analysts are predicting massive growth in 2023 with signs pointing towards a short squeeze.
  2. Tesla (TSLA): The growth stock is amongst the most discussed stocks on Reddit; perfect for long-term value investors.
  3. AMC Entertainment Holdings, Inc. (AMC): AMC’s short interest is still high and more than 93% of shareholders continue to hold the stock this year.
  4. GameStop (GME): More shareholders are direct registering their shares this year to limit shorting in the company stock and trigger price action from mere buying pressure.
  5. Amazon (AMZN): Despite a slowing economy, Amazon plans to invest billions of dollars in theatrical film releases and compete with Paramount Pictures.
  6. Warner Bros. Discovery (WBD): Goldman Sachs and Bank of America highlight an attractive “risk/reward” profile, with the former designating the firm its “favorite media stock.”
  7. Alibaba Group Holding Limited (BABA): Restrictions overseas are easing, and analysts are forecasting Alibaba to soar nearly 100% this year.

Mullen Automotive (MULN)

Mullen Automotive (NASDAQ:MULN) become one of Reddit’s trending stocks when a case study found that analysts are predicting shares to rise more than +7,000% by the end of the year.

Shares are currently trading around $0.37 but experts say favorable news during the company’s earnings report sometime in February has the potential to trigger a short squeeze.

Analysts predict shares of the automotive company to soar as high as $24 per share by the end of 2023.

Call options have decimated the number of put options on Webull by more than 96%.

Best of all, out of 173 financial institutions investing in Mullen Automotive, only 1 is short with 172 being long.

Share price at time of original publication 1/11: $0.40

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Tesla (TSLA)

Trending Reddit Stocks 2023.
Trending Reddit Stocks 2023.

Tesla (NASDAQ:TSLA) stock continues to be one of the most trending stocks on Reddit.

Tesla reported 1.31 million deliveries in 2022, a growth of 40% over the previous year.

In the fourth quarter, Tesla reported deliveries of 405,278 vehicles and production of 439,701 vehicles.

That brings Tesla’s 2022 full year deliveries to around 1.31 million vehicles.

In 2021, Tesla reported 308,600 vehicle deliveries in the fourth quarter, and full-year deliveries of around 936,172 vehicles.

Dan Raju, CEO of Tradier, a brokerage platform says, “if and when a market bottom emerges in the first half of 2023, we’d be looking to technology as a fantastic long-term opportunity, given the heavy drawdowns since late 2021.”

Given Tesla’s current low prices, investors all over Reddit stock forums can’t keep it off their watchlist.

Share price at time of original publication 1/11: $123.28

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AMC Entertainment Holdings, Inc. (AMC)

AMC (NYSE:AMC) currently has a high short interest of over 21% according to Fintel.

Company shares seem to have bottomed out around the $4-$4.50 range and shareholders are still holding.

A poll of nearly 4,000 market participants found that more than 93% of shareholders continue to hold their shares or plan to hold in 2023.

The AMC community known as ‘apes’ are determined AMC Entertainment stock will break its current all-time high record by squeezing short sellers again.

Not only does the community have the numbers, but the short interest is the same from 2021 levels when AMC soared to $72 per share.

Although company fundamentals have strongly improved over the past two years, 2021’s massive price surge proved fundamentals don’t necessarily have to be tied to a short squeeze play.

You can read frequently updated AMC breaking news here to stay up to date on the stock.

Share price at time of original publication 1/11: $4.71

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GameStop (GME)

GameStop (NYSE:GME) made its grand debut in January of 2021 shares rose to nearly $500 per share before ultimately getting halted.

But GME shareholders continue to innovate and find ways to re-spark that flame.

And it seems like they’re onto something.

According to GameStop, approximately 30% of GME’s float is registered with the Direct Registration System (DRS).

This equates to 71.3 million retail shares.

Furthermore, Nearly 70% of the float is owned by individual shareholders according to Vickers Stock Research.

This means nearly half of shareholders are on board so far, which is quite impressive.

While DRS certainly prevents the company from being shorted, it’s only one piece of the puzzle for a GameStop short squeeze.

Shareholders will need to create massive buying pressure next.

Share price at time of original publication 1/11: $18.72

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Amazon (AMZN)

Amazon (NASDAQ:AMZN) is reportedly planning to compete with Paramount Pictures in a new venture involving the movie theatre industry.

Last year, experts said Netflix missed out on $200 million in revenue by taking Glass Onion out of movie theatres too early, earning only $15 million.

Amazon.com Inc. will be investing billions of dollars to produce movies that will release in theatres, according to people familiar with the company’s plans.

This is the largest commitment to the movie theatre industry by an internet company, says Bloomberg.

The fact is people are still enjoying the theatrical experience only movie theatres can provide.

And Amazon plans to use the movie theatre industry to its advantage.

Amazon Prime video may potentially pre-release some of these films to subscribers, which could bring in more online streaming customers to the company as well.

Share price at time of original publication 1/11: $93.96

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Warner Bros. Discovery (WBD)

Warner Bros. Discovery (NASDAQ:WBD) rose more than 31% in the first week of 2023 after Wall Street analysts upgraded the company with a modest 63% upside for the year.

“We estimate that WBD is best positioned to drive EBITDA growth, ramp free cash flow and delever its balance sheet in 2023 as it pursues $3.5 billion of merger synergies and relaunches its flagship streaming service,” said Goldman Sachs analyst Brett Feldman.

Meanwhile, Bank of America analyst Jessica Reif Ehrlich reiterated her “buy” rating and $21 price objective on the stock, while adding it to her company’s so-called “U.S. 1 list” of “best investment ideas.”

The Bank of America expert also highlighted positive trends and potential catalysts ahead. “It already appears January advertising trends have improved sequentially (albeit off a modest base) from December levels, and comps would ease as the year progresses,” she wrote.

On Reddit, Warner Bros. Discovery has been discussed amongst the r/wallstreetbets community and several other stock and investing sub-channels.

Share price at time of original publication 1/11: $12.70

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Alibaba Group Holding Limited (BABA)

Trending Reddit Stocks 2023.
Trending Reddit Stocks 2023.

Alibaba (NASDAQ:BABA) is another Reddit stock that was recently added to Goldman Sachs conviction ‘buy’ list.

Analysts say shares may rise more than 25% this year.

As part of its Nov. 17 earnings report, which showed adjusted profit up 5% year over year to $1.82 a share but revenue down 6% to $29.1 billion, BABA said it’s increasing its share buyback program by $15 billion, on top of an existing $25 billion program.

As of Nov. 16, the company said it already repurchased $18 billion worth of stock under its existing program.

Alibaba’s Composite Rating of 85 (on a scale of 1-99 with 99 being the best) has improved significantly due to the stock’s relative price strength.

The current consensus among 59 polled investment analysts is to buy stock in Alibaba.

Analysts are giving BABA a low of $74.35, mid of $142.70, and high of $220.61.

Share price at time of original publication 1/11: $114.50

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What Other Reddit Stocks Are You Watching?

Reddit Stocks 2023

What other Reddit stocks do you have on your watchlist?

Do you already own any of these trending stocks on this list?

Leave a comment down below.

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Will DRS Trigger a GameStop Stock Short Squeeze?

Will DRS Trigger a GameStop Stock Short Squeeze?
Stock Market News: GameStop shareholders are onto something.

The topic of DRS’ing shares (direct registration system) to trigger a GameStop short squeeze has been heavily discussed amongst the retail community.

DRS enables investors to register their shares through a system such as ‘computershare’ in book form entry directly with the issuer.

The premise is to starve lenders from allowing shares to be lent to short sellers.

No shares to short = organic price increase from retail demand.

Today, it seems more and more GameStop shareholders are jumping in on the bandwagon to secure their shares.

Some retail investors argue that DRS has not proved to create a positive impact on the stock.

GME stock ended 2022 down nearly -50%, shares are currently trading around $16.23 per share, respectively.

According to GameStop, shareholders registered 71.8 million shares via the transfer agent.

The question is, if more shareholders DSR their GameStop stock, will it create a short squeeze?

Let’s discuss it below.

How Many GME Shares are DRS?

According to GameStop, approximately 30% of GME’s float is registered with the Direct Registration System (DRS).

This equates to 71.3 million retail shares.

How much of GME’s float is owned by retail investors?

Nearly 70% of the float is owned by individual shareholders according to Vickers Stock Research.

GameStop retail ownership
GameStop’s Ownership Structure – Vickers Stock Research.

This means nearly 40% of retail investors have not registered their GameStop shares through DRS.

It’s quite impressive to see the teamwork currently being demonstrated.

But will DRS trigger a GameStop stock short squeeze?

In the end, the goal shareholders are trying to achieve is to create massive price action here.

The debate also surfaced amongst AMC shareholders when CEO Adam announced during Q3 earnings that DRS will prevent the company stock from being shorted.

Majority of shareholders argued selling shares would be a slow process and that it hasn’t quite worked out for GameStop shareholders.

While DRS certainly prevents the company from being shorted, it’s only one piece of the puzzle for a GameStop short squeeze.

Shareholders will need to create massive buying pressure next.

GameStop Short Interest Today

GameStop short interest

Yahoo Finance is reporting 304.58m shares outstanding and a float of 258.65m shares, see the difference here.

GameStop’s short interest is currently being reported at 20.44% (float) and 17.96% of shares outstanding as of December.

GME’s short interest is considered high and is one of the key components to a successful short squeeze.

The short interest allows us to identify the percentage of investors betting against the stock.

A high short interest means any spike in price may trigger short sellers to close out their positions before accumulating losses.

When share prices rise and get out of hand in favor of the bulls, short sellers are incentivized to buy back their shares at a loss, breakeven, or potential profit (depending on when the position was opened).

This heavy buy-back of shares builds buying pressure which may result in a ‘short squeeze’.

Brief GameStop Short Squeeze History

GameStop short squeeze history
GME short squeeze history – Franknez.com.

On January 28th, 2021, GME shareholders were able to take GameStop’s share price to an all-time high of $483 per share before Robinhood halted further trading activity, particularly in buying the stock.

At the time, AMC surged from $2.50 to $22 per share and then five months later reached its all-time high of $72 per share.

However, GameStop’s short squeeze was well on its way to reach larger and unprecedented number figures prior to the halt.

This event sparked one of the most prominent events in the history of our financial markets.

It opened a door to a series of investigations.

Wall Street fraud, stock market manipulation, short and distort, and various conflicts of interest became the center of attention after the ‘meme stock’ frenzy.

Shareholders retaliated and spurred up a culture unlike anything that has ever been seen before.

Now, GME shareholders are doing whatever they can to keep their shares out of short sellers’ hands by direct registering their shares with Computershare.

Related: GameStop Stock – Big Year in 2023?

GME Shareholders Are Onto Something

Will DRS trigger a GameStop stock short squeeze?

The registration of 71.3 million GameStop shares is impressive.

But GME shares keep dropping.

Ultimately, it will be heavy buying pressure from retail investors that will trigger massive price movement in the company stock.

How soon will we begin to feel that Roaring Kitty sense of relief again?

Only time will tell, but I’m curious to hear your thoughts.

Leave a comment down below.

GameStop Stock Short Squeeze – Roaring Kitty.

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GameStop Stock: Big Year in 2023?

Market News: What is happening with GameStop stock in 2023?
Market News: What is happening with GameStop stock in 2023?

GameStop stock is one of the few companies who actually crushed in during the bear market in 2022.

The stock, currently trading at $18.40, amassed worldwide attention in 2021 when the ‘meme stock’ frenzy took Wall Street by surprise.

Today, GameStop has one of the most raving fanatics and shareholder base which without a doubt are the backbone of the company.

How much of GME’s float is owned by retail investors?

Approximately 70% of the float is owned by individual shareholders according to Vickers Stock Research.

GameStop retail ownership

GameStop’s Chair Ryan Cohen himself owns more than 12% of GME shares.

These are held through Ryan’s holding company RC Ventures, which Vickers considers to be Institutional ownership.

So, where is GameStop headed in 2023?

Let’s break down some important figures to determine just that.

Where is GameStop Headed in 2023?

where is GameStop headed in 2023?

2022 was another memorable year for GameStop.

Under Chairman Ryan Cohen and CEO Matt Furlong, it was the first year of the implementation of the company’s turnaround plan, which aimed to transform GameStop into a tech-oriented business.

This consisted of investment initiatives in e-commerce, an NFT marketplace, and Web 3.0 gaming.

But the company needs to focus on raising more capital despite its $1bn cash pile and having virtually no debt.

GameStop’s quarterly cash burn averaged at $400 million per quarter throughout 2022.

This means that if the company’s operating cash flow remains at similar levels next year, GameStop’s balance sheet could run out of cash in the next two years.

Over the last four quarters, GameStop’s sales have grown only by 1.3%.

Still, what made 2022 so significant for GameStop is the reporting of positive cash flow for the first time since Q1 of 2021.

Cashflow came in at $177.3 million this year compared to an outflow of $293.7 million last year.

This is already great news for GameStop going into 2023.

In 2023, GME stock will remain popular amongst retail investors, primarily due to the massive community of shareholders who are looking to take GameStop shares to the moon.

During the spark of the ‘meme stock’ frenzy, GameStop shares rose to $483 per share, a superior all-time high.

But shareholders are not convinced the stock is done running.

In fact, many GME shareholders believe share prices may skyrocket to new records, primarily due to overleveraged shorting in GameStop.

According to GameStop, shareholders registered 71.8 million shares via the transfer agent.

This equates to a massive 30% of GameStop’s total float – something that’s very unlikely in the markets.

Transfer agents can’t lend shares for short sellers who want to bet against GameStop.

The high number of market participants taking this action signifies that retail investors are here to stay.

Final thoughts

Join the newsletter below for more market news and updates.
Join the newsletter below for more market news and updates.

2023 opens up new possibilities for GameStop as e-commerce, NFTs, and Web 3.0 gaming continues to grow.

While the company may benefit from arming itself with more short-term capital, GameStop enters the new year with positive cash flow, an incredible start for the company as many continue to struggle.

Even at a fundamental level, analysts are predicting GameStop stock to rise significantly higher next year.

But I’m curious to know your thoughts on where GameStop stock is going in 2023.

Leave your thoughts down below.

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