Hedge fund Melvin Capital Management LP, which was at the heart of the GameStop Corp. (NYSE: GME) short squeeze frenzy earlier this year, closed out of all its public short positions in the first quarter.
Two of the most talked-about stories in the financial markets in 2021 are the GameStop Corp (NYSE: GME) short squeeze and the rise in valuation of cryptocurrencies like Dogecoin.
Meme stocks such as GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc. (NYSE: AMC) may soon see another short squeeze, based on the social media chatter around both stocks, according to social-media tracker HypeEq
Gainers
AMC Entertainment Holdings, Inc. (NYSE: AMC) shares surged 23.7% to close at $12.77.
Moxian, Inc. (NASDAQ: MOXC) jumped 23.6% to close at $9.52.
After recording huge losses following the GameStop Corp. (NYSE: GME) trading frenzy earlier this year, hedge funds are now looking beyond equities to focus on junk- and investment-grade rated bonds for short bets.
A statue of a Shiba Inu, the mascot of Dogecoin (DOGE), has been placed in front of the iconic “Charging Bull” sculpture in New York’s financial district.
What Happened: Dogecoin co-creator Billy Markus discussed the placement of the Shiba Inu figure on Twitter on Tuesday.
Dogecoin knockoff Shiba Inu (SHIB) saw a price rise of over 1647.42% in the past week.
What Happened: At press time, SHIB was trading even higher at $0.00002948, gaining over 50% moments after Binance announced it would list the token.