As GameStop plunges, Volkswagen’s 2008 short squeeze gives an idea of how painful it will get
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images Volkswagen often comes to mind when investors try to find a short squeeze comparable to GameStop’s jaw-dropping...
Fed’s Bostic says economy could recover more quickly than expected
Atlanta Federal Reserve President Raphael Bostic said Monday that he’s not worried about the U.S. economy overheating, though he does think growth could happen faster than many expect. In an estimate well ahead of most of his colleagues, Bostic, a...
CBO sees rapid growth recovery, labor force returning to pre-pandemic level by 2022
A worker uses a hoist to assemble a car seat at the Lear Corp. manufacturing facility in Hammond, Indiana. Jim Young | Bloomberg | Getty Images U.S. economic growth will recover “rapidly” and the labor market will return to full...
New chart shows China could overtake the U.S. as the world’s largest economy earlier than expected
Workers stand at the port of Qingdao, Shandong province, China June 10, 2019. Reuters BEIJING — China is set to overtake the United States as the world’s largest economy a few years earlier than anticipated due to the coronavirus pandemic,...
Melvin Capital, which bet against GameStop, lost more than 50% in January, report says
A GameStop Corp. store in Rome, Italy, on Thursday, Jan. 28, 2021. Alesia Pierdomenico | Bloomberg | Getty Images Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop and other stocks the fund was...
Hedge fund billionaire Steve Cohen leaves Twitter after family receives threats amid GameStop backlash
Steven A. Cohen Scott Eells | Bloomberg | Getty Images Steve Cohen, the founder of hedge fund Point72 and owner of the New York Mets, has deactivated his Twitter account after his family received threats this week amid the GameStop...
Robinhood is still severely limiting trading, customers can only buy one share of GameStop
Restrictions on Robinhood traders got tighter throughout the day on Friday, only allowing clients to buy a single share of GameStop. The stock trading app also expanded its list of restricted stocks from 13 earlier in the day to 50....
GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this...
December pending home sales drop as buyers face record high prices and low supply
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Homebuyers signed fewer contracts to buy existing homes in December, as record high...
Reddit rebellion is ‘another epic parabolic bubble’ that will burst, investor Peter Boockvar warns
Investor Peter Boockvar is calling the Reddit rebellion “another epic parabolic bubble.” In a research note out this week, he warns the mania into trades from GameStop to American Airlines will ultimately go bust. “Let’s break down the investment strategy: Find...
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