Category: Business

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Shares of GameStop surged as much as 1,600% between Jan. 11 and Wednesday after an unprecedented stock market battle pitting amateur investors piling on the videogame retailer’s shares against hedge funds scrambling to cover losing bets. The use of volatile call options, herd buying through social network Reddit, the involvement of Tesla’s Elon Musk and […]

BlackRock Inc, the world’s largest asset manager, could have made gains of about $2.4 billion on its investment in GameStop Corp as retail investors pour money into the video-game retailer’s shares. The asset manager owned about 9.2 million shares, or a roughly 13% stake, in GameStop as of Dec. 31, 2020, a regulatory filing showed […]

Shares of GameStop and AMC Entertainment Holdings each more than doubled on Wednesday, forcing hedge funds to take heavy losses as they unloaded short positions, sparking calls for scrutiny of anonymous stock market trading posts on social media. The short squeeze was so sharp that funds were selling long positions in stocks to pay for […]

Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses. Gone are the days when bruised retail investors fled after prominent hedge funds bet against a stock — the GameStop effect is […]

Short-squeeze mania is spreading. The strategy, favoured of late by U.S. retail traders, boosted heavily shorted European stocks on Wednesday. The immediate victims are bearish hedge funds who didn’t see it coming. But the squeezers themselves also risk overreaching. Shares in Klepierre, Unibail-Rodamco-Westfield, Ambu and Pearson were up 13% on average by mid-morning. They’re among […]

Blackstone Group Inc, the world’s largest manager of alternative assets, said on Wednesday its fourth-quarter distributable earnings rose 60% year-on-year, driven by a surge in asset sales across its private equity and real estate business lines. Distributable earnings – cash available for paying dividends to shareholders – totaled $1.46 billion, up from $914 million a […]

Copper prices climbed to their highest level in nearly a decade Friday as investors in the commodity anticipate rising demand for infrastructure and construction projects in the post-pandemic economy. On Friday, the price of copper climbed above $4 per pound for the first time since September 2011. The base metal is used in many construction […]