BREAKING NEWS – 115 violent prisoners take over St. Louis jail: Inmates set fires, injure guard and throw chairs out of smashed windows in anger over ‘unsafe’ conditions during the pandemic Daily Mail
GameStop Isn’t a Popular Uprising Washington Monthly
An exclusive look at the data indicates that big players are driving the price, not the little guy trading “stonks.” …
Unless most of the Reddit bunch have assets in the top one-tenth of one percent of Americans, they were mere bystanders to last week’s trading of 682 million shares at an average price of $218.20 — purchases totaling nearly $150 billion in a wildly volatile market. Only institutional investors have such resources to trade stocks, not self-styled populists with Robinhood on their iPhones.
Hedge funds may have manipulated GameStop in opposite directions, wringing out profits daily or even two or three times a day. If this is correct, the GameStop saga is not some populist uprising but a rolling version of “pump and dump,” a classic form of manipulation and naked shorting.
See yesterday’s news links here
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