Year: 2021
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Hedge funds have been perfectly capable of blowing themselves up with common trades like shorting and selling call options. But with the epic rise of AMC Entertainment Holdings, Inc. stock, there lurks another potential danger for hedge funds. And this one could be worse than anything else we’ve seen. Aside…
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+ Business+ AMC, Finance, Gamestop, Investing, Money, Personal finance, Reddit, Stock Market, Stocks, Wallstreetbets+
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Yesterday, high profile hedge fund White Square Capital announced plans to close down after big losses in GameStop. New York-based Mudrick Capital just took a massive loss on AMC. Melvin Capital is down by nearly half as AMC, GameStop and others continue to move against them. These are not isolated…
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It’s no secret that AMC is going vertical lately: But this and other meme stocks may be even hotter than they appear based on prices in public markets like the New York Stock Exchange. The reason is a quirk in how retail orders are handled: The prices of so-called meme…
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Several hedge funds that lost a fortune shorting GameStop in January have sustained further losses betting against meme stocks like AMC: Melvin Capital and Light Street Capital, two US hedge funds hard hit by the January rally in stocks popular with retail investors, suffered further losses in May. Hedge fund…
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Inside a low-slung building surrounded by trees in southern Minnesota, there is an old man. Now ailing and in his 90’s, he was once one of the most powerful members of the American mafia. This building is Federal Medical Center Rochester. This man is Louis “Bobby” Manna. Manna was born…
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Despite losses of over $1 billion last month, short sellers remain attracted to AMC like moths to a flame: Investors shorting “meme stock” AMC Entertainment Holdings (AMC.N) are estimated to have lost about $512 million on Monday after a rally that sent the cinema operator’s shares up more than 15%,…
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+ Business+ AMC, AMCARMY, Finance, Investing, Money, Reddit, Short sellers, Stock Market, Stocks, Wallstreetbets+
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On glamorous Madison Avenue in midtown Manhattan, as most people were heading home for the day, the top executives of a powerful hedge fund filed into a conference room. The fate of this multibillion dollar institution could be at stake. This is Mudrick Capital Mangement, L.P. With offices in New…
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+ Business+ AMC, Finance, Hedge funds, Investing, Money, Reddit, Robinhood, Stock Market, Stocks, Wallstreetbets+
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Along the New Jersey Turnpike, it comes into view: a massive complex of tanks, smokestacks, and tangled pipes. This is New Jersey’s biggest polluter: the Phillips 66 Bayway Refinery. The Phillips refinery releases far more toxic chemicals than anywhere else in the state, and more than twice as many as…
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“See that church? Your great grandfather helped build that almost 80 years ago. He was a stonemason, the old man. Came over from Avellino with four dollars in his pocket.” Tony Soprano The camera pans down to show a beautiful church made of grey stone. Alongside it: a red Tahoe.…
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+ Crime, HBO, Jersey City, LCN, Mafia, Mob, New Jersey, NJ, NYC, Organized Crime, Sopranos, Television, The Sopranos, Tony Soprano, TV+
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On a narrow street at the edge of town sits a squat brick building. There are no windows. On the street, lookouts watch for unfamiliar faces. The few who do enter are carefully watched. Inside: the headquarters of the most powerful mafia family in this country. This is Casella’s Restaurant…
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+ NYC Area+ Crime, Genovese, Hoboken, Hudson County, Law, LCN, Mafia, Mob, New Jersey, NYC, Organized Crime, True Crime+
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Tremendous 