Thursday, July 29

Meme stocks

Finance, Markets, Meme stocks, MI Exclusive, millennial, Millennial Investing, millennial investor, Millennial investors, Personal Finance, Retail Trading, Robinhood, Robinhood app

A’finfluencer’ with millions of followers on social media says Robinhood and other trading apps might do more harm than good to young investors

Tori Dunlap/Her First $100K Retail trading apps could cause issues for young investors according to money expert Tori Dunlap. She thinks the apps do not educate their users enough and are not inclusive to minority groups. Robinhood was recently forced to pay $70 million after FINRA accused the app of causing harm to customers. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Young investors, and Gen-Zers in particular, are pouring their spare cash into things like cryptocurrencies and meme stocks, drawn in by the social media communities that have banded together to take on Wall Street giants, and popularized by retail trading apps like Robinhood.As positive as it is to see young people get involved with their own finances, these apps might be doing mor...
$CARV, Carv stock price, Carver bancorp, Markets, meme investments, Meme stocks, MI Exclusive, reddit traders, retail investing

One of America’s biggest Black-operated banks surges 267% as retail investors identify it as their next short-squeeze target

Reddit logo. hoto Illustration by Omar Marques/SOPA Images/SOPA Images/LightRocket via Getty Images Shares of Carver Bancorp, one of America's largest Black-operated banks, skyrocketed as much as 267% on Thursday. Social-media chatter suggests that retail investors have identified the stock as the next target of a short squeeze. More than 83 million shares exchanged hands Thursday, compared to the average daily trading volume of 967,494 over the past year, according to Bloomberg data. Investors on Reddit, Twitter, and Stocktwits identified that the Harlem-based bank has the market's largest proportion of outstanding shares sold short. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Shares of Carver Bancorp-on of America's largest Black-operated banks-sky...
AMC Entertainment, dot-com bubble, Financial Crisis, Gamestop, Housing Bubble, Markets, Meme stocks, MI Exclusive, Michael Burry, Scion Asset Management, The Big Short

‘Big Short’ investor Michael Burry compared the meme-stock craze to the dot-com and housing bubbles — and warned of an impending crash

Michael Burry said the meme-stock craze reminded him of the dot-com and housing bubbles. "The Big Short" investor predicted the buying frenzy would end in a brutal crash. Burry also explained why becoming a meme stock can be a huge boon for a company. LoadingSomething is loading. ...
AMC Entertainment, dot-com bubble, Financial Crisis, Gamestop, Housing Bubble, Markets, Meme stocks, MI Exclusive, Michael Burry, Scion Asset Management, The Big Short

‘Big Short’ investor Michael Burry compared the meme-stock craze to the dot-com and housing bubbles-and warned of an impending crash

Michael Burry. Photo by Kevin Mazur/WireImage Michael Burry said the meme-stock craze reminded him of the dot-com and housing bubbles. "The Big Short" investor predicted the buying frenzy would end in a brutal crash. Burry also explained why becoming a meme stock can be a huge boon for a company. See more stories on Insider's business page. Michael Burry warned the frenzied buying of meme stocks reminded him of the dot-com boom and housing bubble in a recent Barron's interview, and predicted the social-media favorites would plummet in value soon.The Scion Asset Management chief noted the people who went all-in on technology stocks at the turn of century, and those who took out massive loans to buy multiple homes in the mid-2000s, didn't expect the good times to end. Meme -stock i...
Chamath Palihapitiya, lockup expiration, Markets, Meme stocks, retail traders, SoFi, SoFi Invest, SPAC, Vanda Research

SoFi is soaring in popularity on Reddit as retail investors look for opportunities in the fintech company following its merger with a Chamath Palihapitiya-backed SPAC

Chamath Palihapitiya. Brian Ach/Getty Images for TechCrunch Brian Ach/Getty Images for TechCrunch Chamath Palihapitiya-backed SoFi Technologies is gaining steam among Redditors. Comments about the company, which went public last month, surged on Reddit this week. Retail traders noted the end of the post-merger lockup period and the high short interest. See more stories on Insider's business page. SoFi Technologies is quickly gaining traction among retail investors. The fintech company that went public via a Chamath Palihapitiya-backed SPAC last month has seen an influx of retail flows in the last week, according to data from Vanda Research. VandaTrack, Bloomberg In a note, Vanda analyst Giacomo Pierantoni and senior strategist Ben Onatibia said the stock is one that "looks inc...
AMC Entertainment, BlackBerry, E-Commerce, Gamestop, Markets, Meme stocks, Reddit, short squeeze, Tesla, Wall Street Bets

ContextLogic jumps 22% as Redditors highlight it as a meme-stock play for the week

ContextLogic, the e-commerce company that runs the Wish platform, rallied 22% Monday. The company was the top-hyped stock on Reddit investing threads like Wall Street Bets. "Wish is the play this week," said one Redditor. See more stories on Insider's business page. Shares of ContextLogic jumped as much as 22% Monday, as retail traders on Reddit investing threads touted the e-commerce stock as the play for the week. ContextLogic, the San Francisco, California-based company that operates the Wish ecommerce platform, was the top-hyped stock on Reddit investing threads like Wall Street Bets Monday, according to data from HypeEquity....
Bitcoin, cryptocurrency, Gamestop, Markets, Meme stocks, MI Exclusive, Michael Burry, Recession, Scion Asset Management, short squeeze, Stock market bubble, Tesla, The Big Short

‘Big Short’ investor Michael Burry warns the’mother of all crashes’ is coming-and predicts crypto and meme stocks will plummet

"The Big Short" investor Michael Burry. Getty Images/ Astrid Stawiarz Michael Burry predicted meme stocks and cryptocurrencies will plummet. "The Big Short" investor warned the "mother of all crashes" is coming. Burry pointed to excessive leverage as a major problem for crypto. See more stories on Insider's business page. Casual investors buying meme stocks and cryptocurrencies are signing up for devastating losses, Michael Burry warned on Thursday."All hype/speculation is doing is drawing in retail before the mother of all crashes," the investor tweeted. "When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries."Burry added that people's fear of missing out has propelled asset prices to unsustainable leve...
Berkshire Hathaway, Department Stores, Dillards, Markets, Meme stocks, MI Exclusive, Pandemic, Reddit, Stocks, Ted Weschler, Warren Buffett

Warren Buffett’s deputy has scored a 300% gain on Dillard’s in 9 months-and now boasts a $170 million stake

Warren Buffett and Ted Weschler. Yahoo Finance/YouTube Warren Buffett's deputy has quadrupled his money on Dillard's in nine months. Ted Weschler's personal stake has surged from under $40 million to about $170 million today. Dillard's stock is popular among retail investors, and its financials have rebounded. See more stories on Insider's business page. Warren Buffett made his fortune by investing in unloved, undervalued businesses. Ted Weschler, one of the Berkshire Hathaway CEO's deputies, appears to share that talent-he's quadrupled his money on Dillard's over the past nine months.Weschler disclosed a personal stake of 6% in Dillard's last October, when the department store's stock price was below $40. Dillard's shares now trade around $160, meaning Weschler's 1.1 million sha...