Monthly Archives: May 2021
Court Enters Judgments Against Promoters in Pump-And-Dump Scheme
(HedgeCo.Net) The U.S. District Court for the Central District of California has entered final judgments against the remaining three defendants in a 2019 SEC action charging them for their alleged roles in a pump-and-dump scheme in the stock of southern […]
New York hedge fund founder Kamensky sentenced to prison in Neiman Marcus fraud
(Reuters) The New York hedge fund founder who predicted he might “go to jail” for corrupting the sale of some assets during the bankruptcy of Neiman Marcus has been sentenced to six months in prison. Daniel Kamensky, 48, of Roslyn, […]
Stock futures inch higher as investors eye pipeline cyberattack
(CNBC) Futures contracts inched higher in the overnight session Sunday evening, suggesting that the major U.S. equity indexes could trade at or near records when regular trading opens in New York. Dow futures gained 98 points, while those linked to […]
Dogecoin plunges nearly 30% during Elon Musk’s SNL appearance
(CNBC) As Elon Musk – the self-proclaimed “Dogefather” – made his “Saturday Night Live” debut, the price of dogecoin fell off a cliff. The meme-inspired cryptocurrency fell as much as 29.5%, dropping to 49 cents at one point. Musk mentioned […]
This bitcoin misconception could be what takes it to $250,000, according to Morgan Creek’s Yusko
(CNBC) Bitcoin may be struggling to break back above $60,000, but Morgan Creek Capital Management’s Mark Yusko is aiming even higher. The investment management firm’s founder and chief investment officer predicts the cryptocurrency could reach $250,000 within five years. He […]
Inflation is the big challenge for markets and the Fed in the week ahead
(CNBC) After April’s disappointing jobs report, market focus will shift squarely to inflation in the week ahead. The tug-of-war over tech stocks will also continue to be a dominant force in the stock market, after Friday’s bounce more than halved […]
Cathie Wood loves the setup for her stocks after sell-off, expects big returns from her strategies
(CNBC) Cathie Wood, founder of Ark Invest, said Friday that the pullback in technology stocks is not a cause for concern, and that her long-term bets will pay off over time. “I love this setup,” “The worst thing that could […]
SEC Charges Previously-Barred Broker with Defrauding Investors in a Pre-IPO Investment Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged a previously barred securities broker with fraudulently raising funds from investors purportedly to purchase shares of prominent private companies prior to their initial public offerings (IPOs). The SEC also charged three individuals […]
Banks Are Making It Harder for Hedge Funds to Leverage Their Bets After Archegos
(Bloomberg) The dust hadn’t yet settled on Archegos Capital Management’s implosion, when hedge funds started shifting their bets toward banks that avoided getting hurt, hoping to keep leveraging up just like before. Good luck with that. To read this article:
Wells Fargo says U.S. consumer watchdog has opened new probe on mishandling of accounts
(Reuters) Wells Fargo and Co. is facing a new probe from the U.S. consumer watchdog over how it disclosed and assessed monthly fees on certain consumer bank accounts in 2016, the bank disclosed in a regulatory filing on Thursday. To […]
Fed warns about potential for ‘significant declines’ in asset prices as valuations climb
(CNBC) Rising asset prices in the stock market and elsewhere are posing increasing threats to the financial system, the Federal Reserve warned in a report Thursday. In its semiannual Financial Stability Report, the central bank said that while the system […]
Goldman Sachs offers bitcoin derivatives to investors
(Reuters) Goldman Sachs Group Inc is allowing Wall Street investors to trade with a derivative tied to bitcoin prices, Bloomberg News reported on Thursday. Goldman, the fifth-largest U.S. bank, has opened up trading with non-deliverable forwards that eventually pay out […]