BREAKING: Melvin Capital closes out of its GameStop position, a stock which it had a short position on. $GME andrewrsorkin reports.
Futures were mixed during early morning trade on Wednesday as Wall Street pored over earnings results from Microsoft.
The decline in futures came despite a stellar earnings report from Microsoft. The tech giantgrew sales by 17% on a year-over-year basisin its fiscal second quarter. Its cloud business also accelerated. Microsoft shares rose 1.5% in premarket trading.Starbucks topped earnings estimates for the last quarter, but its U.S. same-store sales fell 5% amid rising cases of Covid-19. Shares of the coffee chain fell more than 2% in premarket trading.
Apple, Facebook and Tesla are due to report earnings after the closing bell. They represent three of the six largest companies in the U.S. by market cap, meaning fluctuations in their stock prices have an outsized impact on the performance of the broader S&P 500.
GameStop shares were on the move again up another 30% in the premarket, but off their highs of the day after CNBC learned Melvin Capital, the hedge fund targeted bythe retail investing crowd on Reddit had sold out of its short position.Investors will also keep a close eye on comments from Federal Reserve Chairman Jerome Powell, who is expected to speak with reporters during a press conference Wednesday afternoon headtopics.com
following the Fed's latest interest rate decision.The central bank chief will likely explain how the Fed views the economic outlook and offer remarks about what, if any, monetary actions are needed to help further stabilize the U.S. economy.Many investors hope Powell and his colleagues
the process by which the central bank would curb its monthly bond purchases that have helped keep the financial system adrift with cash and encouraged investors to take on risk despite rich equity valuations. Read more: CNBC »
Authorities rescue 5 from truck trapped in flooded creek in Tennessee
Five people, including an infant, were rescued from a pickup truck that had slid off a water-covered bridge and into a swollen creek in Tennessee on Sunday.
megtirrell But if sure about the London variant? andrewrsorkin Source? andrewrsorkin elonmusk this is America power trying to bully those with less funds to work with. Scare tactics will not work anymore to create fear in order to profit off of others. 2021 $gme andrewrsorkin FAKE NEWS andrewrsorkin FAKE NEWS!!
andrewrsorkin POSITIONS OR BAN! See here, here in the retail world you can’t just spout bull shit and people blindly listen. POST THE POSITIONS and this mornings SI estimates. Go ahead. Let’s see how many are short still. andrewrsorkin They’re lying justkeepswimming andrewrsorkin SEC_Enforcement andrewrsorkin Lmaooo 🎢😂
SEC_Enforcement yes I'd like to report market manipulation by CNBC. Thank you megtirrell 💪🏼 andrewrsorkin Whether true or not, this shit is falling hard. andrewrsorkin Lies! Don't sell a single share! AMC, GMEGANG - Add to your positions by going long vix. All short CALLS will be wiped out. As $vix goes up, so does your Call option premium. And that will push the GME stock price too! VIX can go 400% from here! ShortSqueeze WSB GameStop
andrewrsorkin Literally fake news. andrewrsorkin Well done . You just angered the whole Internet with reporting done with 0 source. Congrats. andrewrsorkin Shitron Research is going to ZERO!!! GME is going to 500!!! All SHORTS will be liquidated andrewrsorkin Show some proof before spouting this bullshit.
andrewrsorkin andrewrsorkin Fake News! andrewrsorkin Ooh a sale andrewrsorkin Show us the receipts. andrewrsorkin How much they pay you to push this? andrewrsorkin You really going to ruin what little bit of credibility you have left over this company? Wow. I’ll check back in a few days 🙏 $gme andrewrsorkin 😈
andrewrsorkin This is a blatant lie. megtirrell Futures must be down.. andrewrsorkin Nah... andrewrsorkin Yeah right andrewrsorkin Thanks for the discount 💎 andrewrsorkin cnbc This is illegal market manipulation. Stop this BS. There is no volume to justify this manipulation. andrewrsorkin This is bs check Ortex short interest... nothing has changed... This is blantant market manipulation by CNBC
andrewrsorkin AMC, GMEGANG - You can add to your positions by going long vix. All the short CALLS will be wiped out. As $vix goes up, so does your Call option premium. And that will push the GME stock price too! VIX can go 400% from here! GMEtothemoon ShortSqueeze WSB GameStop andrewrsorkin Nonsense, volume in pre-market was far too low for this to be the case
andrewrsorkin FAKE NEWS andrewrsorkin This is blatant securities manipulation by CNBC and Melvin Capital SEC_Enforcement