This was a genuinely epic trade, expressed both via stock and options, that turned $US50,000 into $US48 million on paper as at January 27.
Third, after the New York close on Wednesday, r/DeepF.ingValue, otherwise known as Roaring Kitty, and residually as Keith Gill, confirmed on Reddit that he was “gonna back off the daily updates for now”’.īy way of context, Gill had been posting daily snapshots of his GME holdings since publishing a five minute bull case via his YouTube channel on August 22. This revealed some details that were up until then, unclear.įor good measure, later in the session Robinhood announced via its blog that it had raised a further $US2.4 billion, adding to the 1 billion in emergency funding raised on January 29. Second, on Monday afternoon, 5pm AEDT (10pm Pacific Time), Elon Musk guested in an impromptu room on Clubhouse, the edgiest new app in the social media space, where he posed questions to Vlad Tenev, CEO and co-founder of Robinhood.
This prompted a sharp reversal from the ugly open in Asia, with markets (correctly) perceiving that the reduction was sufficient to end the short squeeze. APįirst, S3 Partners tweeted mid-morning on Monday AEST that around half of the short base in GME had been covered on the final trading day of January. A series of intervening events then occurred, each playing out on different social media platforms.Įlon Musk discussed GameStop on networking app Clubhouse on Monday night. Last weekend GameStop (GME) was still in play, with potentially systemic implications for the clearinghouse system in the US.
But what happened in between is a big deal, and conforms with our baseline that the year ahead will be unpredictable. Over the past fortnight the S&P 500 is up 1 per cent.
0 kommentar(er)
