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Category: Business

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Why AMC May Be Even Hotter Than You Think

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 stocks may be distorted because the majority of trades in […]

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Hedge Funds Burn $6 Billion In a Month Shorting AMC (and Others)

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 losses from betting against five popular meme stocks — GameStop, […]

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AMC Shorts Lose $500 Million in 1 Day

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%, data from financial analytics firm Ortex showed. They are up […]

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Hedge Fund Torched By AMC

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 York City and London, it manages approximately $3.8 billion. Or […]

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AMC Share Sales: A Wise Move for the Company’s Future

March 25, 2020: COVID is sweeping the globe, causing shutdowns worldwide. One casualty: all 1,000 theaters of 100 year old AMC Entertainment Holdings, Inc. Like many businesses, its ability to remain solvent was in serious doubt. Under these cirumstances, a lot of CEOs arrange a golden parachute for themselves and a few golf buddies in the C-suite and throw the […]

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Wendy’s: a Deliciously Different Meme Stock

Shares of Wendy’s exploded today as Reddit’s merry band of traders piled in: Beloved burger and Frosty chain Wendy’s (WEN) has won the honor of being the first fast-food stock to get roped into the red-hot meme stock trade. Shares of Wendy’s spiked 16% in early afternoon trading on Tuesday after a favorable mention by traders on Reddit. Shares closed […]

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Why Austin is #1 in Attracting Tech Workers

Austin, already a significant tech center, is the biggest beneficiary of tech workers being able to live anywhere and work remotely: Austin is the top beneficiary of tech-related migration in the past 12 months, according to data from Microsoft Corp.’s LinkedIn profiles. Nashville and Charlotte also saw noteworthy migration rates. Why is Austin #1? Tech workers are finally able to […]

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Short Sellers Lose $1 Billion on AMC

AMC stock has doubled in just ten days, extending a 13-fold rally this year: Investors shorting the meme stock AMC Entertainment are estimated to have lost $1.23 billion over the last week as the shares rallied more than 116% since Monday, according to data from S3 Partners. AMC was the most active stock on the New York Stock Exchange by […]

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India Is Soaking Up Venture Capital Like a Sponge

It’s not just about the Bay Area anymore. Indian startups have raised venture funding at a record pace this year, on track to double from 2020: Startups raised total investments of $7.8 billion in the first four months of this calendar year, which is almost 70% of the overall corpus of $12.1 billion raised in entire 2020 and more than […]

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How the Mormon Church Made Millions on GameStop

There have been a lot of winners in GameStop’s dizzying, over tenfold rise in the last year. An unlikely one is the Mormon Church, which made over $8 million on GameStop shares through its investment arm: The Church of Jesus Christ of Latter-day Saints’ play for stock in GameStop paid off big-time as the Utah-based faith saw its shares in […]

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GameStop Pays Off $216 Million in Debt

It’s no secret that GameStop shares have gone vertical, up more than ten fold this year. Besides making millionaires of a lot of Redditors, this also lets GameStop sell more shares at high prices, enabling them to raise capital with ease. And raise they did, to the tune of $550 million in April. They recently used that money to completely […]

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Can Bitcoin Protect You From Inflation?

Bitcoin is often referred to as digital gold. Unlike fiat money such as the US dollar, its supply expands at a slow, steady rate. The Federal Reserve has printed so much money during the COVID crisis that money supply is up over 25%. This has led to fears of inflation. The consumer price index (CPI) jumped by 4.2% in the […]

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Bitcoin Is Worth More than the GDP of Switzerland

Ah, Switzerland. Home of fine chocolate, discreet bankers and pharma giants. It’s one of the richest countries on earth per capita, and home to world-leading companies like Nestle and Novartis. But this entire nation of nearly 9 million people with a history going back to the year 1300 has a GDP smaller than the total value of bitcoin, which has […]