@peter_IFAMAG reads Twitter so you don’t have to.
Retail investors using internet site Reddit helped pump the price of Game Stop shares last night, leading to 128% rise, and then subsequent dip, and leaving many pundits in shock. Meanwhile the money raised in SPACs has outpaced the amount raised for traditional IPOs.
Momentum Investors pumped the price of Game Stop stock last night.
128% now pic.twitter.com/ckkPgpUWPs
— Joe Weisenthal (@TheStalwart) January 25, 2021
It then progressed.
Show me a funnier chart. I'll wait. pic.twitter.com/jwdNmkYlNg
— Robin Wigglesworth (@RobinWigg) January 25, 2021
Tracey Alloway looks at this phenomenon in detail, concluded in the investment establishment is ill-equiped to deal with it.
Wrote about how the Wall Street Bets phenomenon is changing markets, and how ill-equipped the establishment is to deal with it.https://t.co/Rt857yfWGx pic.twitter.com/kBeuCgxwNF
— Tracy Alloway (@tracyalloway) January 25, 2021
Robin Wigglesworth shared screenshots of what the forum looked like.
Someone on Reddit is bragging that they bought nearly $8k worth of GME stock at the exact peak of $155.29, and the WSB commenters are *applauding it*. https://t.co/0AtVgtDVkJ pic.twitter.com/uwjpPJt1YB
— Robin Wigglesworth (@RobinWigg) January 25, 2021
Goldman Sachs most shorted index spiked today.
The Goldman most shorted index is up 10.27% today (as I write).
If this holds, it will be it biggest day since April 6th, and the third biggest day since the March 23rd low.
The squeeze continues to gather momentum pic.twitter.com/2H7kPuhOKY— Jim Bianco (@biancoresearch) January 25, 2021
Meanwhile SPACs (Special-purpose Acquisition Companies) how raised an incredible amounts so far this year.
There are now 129 Spacs searching for private companies to merge with/buy…and so far this year, the amount raised from new Spac launches outpaces the amount raised from traditional IPOshttps://t.co/yNYG4DmRfY
— Arash Massoudi (@ArashMassoudi) January 25, 2021
Adam Tooze shares his insights on the so called ‘long covid’ effect on the European economy in this fascinating article.
Why is Euro Area not recovering faster?
Why will it not regain 2019 GDP level until 2022?
Why is US recovery likely to be far more rapid?
Why is this not cause for serious alarm in Brussels and European capitals?
I did a new column for @socialeuropehttps://t.co/SRUuSYfKn0 pic.twitter.com/XD2NqRe0qQ— Adam Tooze (@adam_tooze) January 25, 2021
What are your thoughts on these tweets?
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