The Kellington Times
The Young, Smart, Scrappy Reddit Traders—Who Were Winning—Were Just F@%ked Over By The Short Selling Hedge Funds And Their Cronies
On Thursday, Robinhood added new limits to its app to restrict users from buying the stocks that were liked by the young, hungry traders. The company claims that “in light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK. We also raised margin requirements for certain securities.”
Just in case you’ve been sleeping under a rock, let me tell you about the BIGGEST story going on right now! An army of Gen-Z and Millennial day traders have figured out a way to f@%k over the hedge fund “suits.”
U.S. Treasury Secretary Janet Yellen was paid about $7 million in speaking engagements over the last two years. Yellen disclosed a list of more than 50 paid speaking events for “financial firms that included $67,500 from Goldman Sachs, $54,000 from an event at Barclays and $292,500 from a single speech for hedge fund Citadel.”
President Joe Biden warned the climate crisis presents an “existential threat” to the world. In an executive order, to fight back against this challenge, Biden called for the “halting fossil fuel activity on public lands and directing the U.S. government to start a full-frontal effort to lower planet-heating emissions.”
The United States Department of Labor reported Thursday that jobless claims for the prior week totaled 847,000. The number, while lower than previous weeks, is still at a stubborn historic high. Claims filed last week were lower—by 67,000—compared to the prior week. To put things into perspective, before the Covid-19 pandemic, jobless claims were never over 700,000.
