![]() One of the reasons the United States can continue to live above its means-importing more goods and services than it can pay for-is thanks to its ability to soak up enough capital from abroad to fund its $860 billion-plus trade deficit.Ī key pillar of that is foreign governments, companies, and individuals investing their excess savings in the U.S.’s deep, liquid financial markets. ![]() "Someone spends over a million dollars on puts right before a very, very damaging headline comes out," remarked one user on the subreddit.Ĭombating any hint of market manipulation is considered to be one of the SEC’s top priorities. A number dismissed the criticism as a possible attempt by hedge funds to cash in, by sowing fear, uncertainty, and doubt ("FUD") just before an allegedly large number of bearish options bets are set to expire on Friday. They pointed out Cohen was merely laying the ground to sell his out-of-the-money call options before they expire in January and hadn’t necessarily sold anything yet. On the WallStreetBets subreddit, many were still defending Cohen, a hero to many after launching the meme stock trend with his 2020 investment in GameStop. This month’s surge in BBBY shares was symptomatic of the market’s return to a full-throated embrace of risk assets following the chillier days of June, when an inflation-fighting Federal Reserve began hiking rates at a draconian pace of 75 basis points a month. ![]() Normally, long investor Black and short-seller Spiegel are at the opposite of trades, but this time they were united in their condemnation of Cohen fanning the speculative flames only to flip-flop on his Bed Bath & Beyond position from one day to the next. Shares in Bed, Bath & Beyond are expected to open over 8% lower at $21.15 when U.S. I have much respect for everyone working on the ground in our stores," he posted. "Unless you sweat on the job you don’t know hard work. Only a month ago, Cohen was praising the hard work at his other brick-and-mortar investment, GameStop, where he serves as chairman of the board. That would have allowed him to start liquidating his holdings just as his followers were rushing to get their hands on shares, in the possibly mistaken belief Cohen was making a bold bet that the long-term future of the struggling bathroom fixtures retailer was bright. On Wednesday investors then learned that Cohen’s RC Ventures told the SEC the very same day he intended to sell his entire stake, equivalent to 1.67 million shares locked up in his new options derivative contracts as well as a further 7.78 million in conventional cash equity shares, notifying regulators the sale could commence immediately. This was seen as a fresh renewal of his confidence in the company's slumbering value. The stock had surged over 70% on Tuesday after a filing revealed the Canadian investor had held on to his April call options in the brick-and-mortar retailer that would only begin to pay out should the stock hit $60 a share before January 20. “Worthy of SEC investigation,“ opined Gary Black, managing partner at The Futures Fund. Some investors smell a rat and are calling for the Securities and Exchange Commission's Gary Gensler to investigate whether activist investor Ryan Cohen may have manipulated markets with his trades in Bed, Bath & Beyond, known by its BBBY ticker symbol. That day, several news sites reported on the gag name's polling appearance, including The Week, IBI Times, The Daily Beast, NY Mag and The Daily Caller.Did the Pied Piper of meme stock investments lead his followers to their impending financial demise? In the first 24 hours, the tweet gained over 9,000 retweets and 4,400 favorites. That day, the North Carolina news station ABC 11 tweeted about the polling data, assuring readers they "were not hacked" (shown below). Additionally, the firm revealed that Deez Nuts was polling at 9% in North Carolina, 8% in Minnesota and 7% in Iowa. On August 19th, the United States polling firm Public Policy Polling (PPP) released the results of a new survey on the primary candidates, which found that Donald Trump was leading in polls for the by 24%. On July 28th, 2015, CBS News reported that an independent named Deez Nuts filed a statement for candidacy with the Federal Election Commission in the 2016 Republican Presidential Primary. The same day, the Co Vines YouTube channel uploaded a compilation of notable "deez nuts" Vine remixes, accumulating more than 126,000 views and 70 comments in 48 hours (shown below, right). On April 11th, Viner Khadi Don posted a scene from the 2002 superhero film Spider-Man with the "deez nuts" clip dubbed over the original audio (shown below, left). ![]() ![]() A video posted by We are MykLee on at 5:29pm PDT ![]()
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