Category: Meme Stocks (Page 3 of 45)

GameStop Short Sellers Now Down A Whopping $1 Billion

May 15, 2024 / Frank Nez

GameStop short sellers are now down a whopping $1 billion in May according to new data from S3 Partners analysts.

Shares of the gaming company soared more than 66% on Monday, hitting nearly $37 from a previous close of $17.39.

GME stock is currently up more than 183% in the past month alone.

Media speculates GameStop shares rose due to the return of iconic investor, Keith Gill, AKA Roaring Kitty.

Shares of AMC Entertainment stock also rose by more than 50% on Monday, hitting $4.44 from its previous close of $2.95.

The movie theatre stock is currently up 79% in the past month alone.

According to financial analytics firm, S3 Partners, GameStop short sellers have accumulated approximately $1 billion in paper losses.

“GameStop shorts are down in estimated $1 billion in May paper losses with todays +50% pop in early trading,” said Matthew Unterman on X.

“@S3Partners multi-factor squeeze risk score has been registering a max of 100 every day since May 3rd.”

S3’s Squeeze Score overlays the significant components for a squeeze, higher financing costs and unrealized losses, to their Crowded Score to identify shorted stocks with higher short-side volatility and identifies stocks that have the necessary conditions to be “squeezed”.

Squeeze Scores of 70-100 identify squeezable stocks, and scores over 90 have a significantly higher risk of a squeeze and the potential for the resulting buy-to-covers to pushing stock prices even higher, according to the companies website.

With Roaring Kitty back, does this mean meme stocks are about to blow up again based on hype and momentum again?

I’d love to hear your thoughts on this. Leave a comment down below.

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Also Read: South Korea Now Finds Banks Pursued Illegal Shorting Scheme

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South Korea Now Finds Banks Pursued Illegal Shorting Scheme

May 9, 2024 / Frank Nez

South Korea now finds banks pursued an illegal shorting scheme, uncovering a whopping $211.2 billion won ($156m), in manipulative trades.

South Korea’s financial watchdog said it has so far uncovered 211.2 billion won ($156 million) worth of illegal short trades by nine global investment banks, providing its latest formal update on a probe that began late last year, per Bloomberg.

The nine banks, whose names weren’t disclosed, violated mostly procedural rules while collectively shorting 164 stocks, according to a briefing given by the Financial Supervisory Service.

It is continuing to probe five other banks in the matter.

Two of the nine banks are already facing penalties imposed by the financial authorities and have been referred to prosecutors for further investigation for allegedly violating the nation’s capital markets law, Hahm Yong-il, senior deputy governor at the FSS, told reporters Friday.

The watchdog plans to review penalties on the other seven banks.

Activities of global banks and hedge funds have come under increased scrutiny in recent months in South Korea, as authorities boost steps to weed out naked short selling — a practice of selling shares without even borrowing them first.

While short selling remains legal in many markets, it is a contentious political issue in the emerging Asian nation, with its powerful retail investors often blaming it for stock declines, reports Bloomberg.

“The FSS found that the violation rate exceeded 20% in some cases, which suggests that illegal transactions have a big impact on a certain stock,” the financial regulator said in a statement earlier this year.

“It’s necessary to consider the impact of illegal short sales on an individual stock as such trades hinder fair pricing and increase short-term volatility,” it said.

Bloomberg reports the South Korea’s financial watchdogs derived the 20% figure by dividing the amount of violated orders on a certain stock by its daily trading value.

The FSS did not identify the equities that saw illegal trades and declined to say how frequently the trades exceeded that ratio.

In November, South Korea imposed a ban on short selling through mid-2024, a decision that drew big celebration from retail investors in the country.

Investors in the AMC, MULN, GTII, FNGR, and MMTLP communities are just a few of many who have been raising awareness of the malpractice happening in the U.S stock market via X.

Market News Today – South Korea Now Finds Banks Pursued Illegal Shorting Scheme.

Also Read: SEC Commissioner Now Says Securities Lending Facilitates Illegal Trading

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This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰

Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.

View Stock Portfolio

Recommended For You ✨

AMC Entertainment Stock Now Closes The Week Up +10%

February 10, 2024 / Frank Nez

AMC Entertainment stock now closes the week up +10% after hitting new record lows — shares continue to fight for the $4 range.

Despite the stock being on a significant downturn this year, market signal are pointing towards a possible reversal.

If price is able to bounce from the $4.30 range, then the stock has a strong probability of continuing its short-term uptrend.

A break below this range may result in AMC Entertainment stock retesting support at $4.21.

Conversely, a break above $4.40 will test buyers’ strength in the $4.50 range.

Market News Today - AMC Entertainment Stock Now Closes The Week Up +10%. — Market News Today – AMC Entertainment Stock Now Closes The Week Up +10%.

CEO Adam Aron blames the pandemic for the company’s current stock price.

“So painful: 4 years after Covid the industrywide box office is still ludicrously anemic & AMC stock has slid to $4.48,” the CEO posted on X, formerly known as Twitter.

“Difficult to think about anything other than guiding AMC back in these challenging times.”

A week later the CEO said in a tweet that the actors/writers strikes are to blame for the slower 2024 box office.

“Media scoffed at my Embiid tweet, but it’s all true.

AMC’s share price is so frustrating.

The 2023 actors/writers strikes have ruined the early 2024 box office.

Almost all I think about is rebuilding AMC.”

The cinema company will report its fourth quarter earnings on Wednesday, February 28th.

Analysts expect AMC to revert back to unprofitability with a GAAP EPS loss of 64 cents.

However, the company has a knack at beating Wall Street expectations and for surprising legacy media.

Based on 7 Wall Street analysts offering 12 month price targets for AMC Entertainment in the last 3 months, the average price target is $7.75 with a high forecast of $12.00 and a low forecast of $5.00, per TipRanks.

The average price target represents a 90.42% change from the price of $4.07.

AMC Entertainment stock is trading at $4.38 at the time of this publication.

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Also Read: BBIG Investors Now Take On Toxic Lenders in New Lawsuit

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Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰

Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.

View Stock Portfolio

Recommended For You ✨

BBIG Investors Now Take On Toxic Lenders in New Lawsuit

January 23, 2024 / Frank Nez

BBIG investors now take on toxic lenders in a new lawsuit which seeks rescissionary damages in excess of $250 million.

This action is led by Shadwrick Vick on behalf of VINCO shareholders.

The lawsuit alleges that Hudson Bay Master Fund Ltd., Sander R. Gerber, Yoav Roth, BHP Capital NY, Inc., and Bryan Pantofel, have engaged in “predatory lending practices in violation of federal securities law,” according to a new press release.

The lawsuit was filed in the United States District Court for the Southern District of New York and accuses the defendants of violating Section 15(a) of the Securities Exchange Act of 1934 by failing to register as “dealers,” despite engaging of the practice of buying and selling securities for their own benefit.

“Defendants practices are demonstrated by the fact that they have made similar unlawful, predatory loans to publicly traded companies, including VINCO, that caused the issuance of millions, if not billions, of newly-issued shares to the to the company and its shareholders,” the press release states.

Mark Basile’s The Basile Law Firm P.C. has helped lead several retail cases involving fraud, including that of Vinco Ventures.

“One problem with our markets are the unregistered broker-dealers issuing toxic funding to all to willing over-paid executives who forget their fiduciary duty to the company & stake holders,” says @MemeStockMillyz on X.

“BBIG shareholders are making headway in fighting for justice. I’ve personally been financially devastated by bad actors,” says another user.

This is a developing story — for more market news and updates like this, follow me on Twitter or join the popup newsletter.

Also Read: Missing MMTLP Certificates Now Back Up Possibility of Illegal Trading

Other Market News Today

South Korea now speaks on the impact of illegal short selling after the illicit practice accounted for 20% of daily transactions.

Financial watchdogs have vowed to continue rooting out the malpractice in the markets.

“It’s necessary to consider the impact of illegal short sales on an individual stock as such trades hinder fair pricing and increase short-term volatility,” it said.

Bloomberg reports the South Korea’s financial watchdogs derived the 20% figure by dividing the amount of violated orders on a certain stock by its daily trading value.

The FSS did not identify the equities that saw illegal trades and declined to say how frequently the trades exceeded that ratio.

In November, South Korea imposed a ban on short selling through mid-2024, a decision that drew big celebration from retail investors in the country.

Professional investors on the other hand are skeptical, seeing the move as being politically motivated ahead of the election.

Financial authorities have defended the decision, describing illegal trades such as naked short selling — an act of selling shares without borrowing them first — as “rampant” and hurting fairness in the market, reports Bloomberg.

Furthermore, Bloomberg reported on Monday that investigators have turned up just 110 billion won worth ($83 million) of alleged naked short selling by four global investment banks.

In the U.S., naked short selling continues to be a big problem.

Citadel Securities is currently under heavy scrutiny for marking short sales as long sales over a period of five years.

Investors in the AMC, MULN, GTII, FNGR, and MMTLP communities are just a few of many who have been raising awareness of the malpractice happening in the U.S stock market.

Also Read: SEC Commissioner Now Says Securities Lending Facilitates Illegal Trading

Market News Published Daily 📰

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰

Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.

View Stock Portfolio

Recommended For You ✨

South Korea Now Speaks on Impact of Illegal Short Selling

January 19, 2024 / Frank Nez