Short Seller Melvin Capital’s YTD Losses Widen To 44% Amid Latest Surge In Stonks Like GameStop, AMC: Report (Benzinga)
Hedge fund Melvin Capital Management LP’s year-to-date losses have widened to more than 44% after the recent surge in Reddit-favorite stocks such as GameStop Corp. (GME) and AMC Entertainment Holdings Inc. (AMC), the Financial Times reported Thursday, citing people familiar with the hedge fund’s performance. What Happened: Melvin Capital, a high-profile victim of the GameStop short squeeze frenzy earlier this year, lost another 4% in May and its year-to-date losses widened to about 44.7%, according to the report. In comparison, the S&P 500 index of U.S. stocks rose 0.6% in May and has gained 12% in the first five months of this year.
Friday 6/11 Insider Buying Report: HYMC, FRG (Nasdaq.com)
On Tuesday, Hycroft Mining Holding’s CFO, Stanton K. Rideout, made a $192,500 buy of HYMC, purchasing 55,000 shares at a cost of $3.50 each. So far Rideout is in the green, up about 13.4% on their purchase based on today’s trading high of $3.97. Hycroft Mining Holding is trading up about 5.9% on the day Friday. Before this latest buy, Rideout made one other buy in the past year, purchasing $105,000 shares for a cost of $7.00 a piece. And at Franchise Group, there was insider buying on Wednesday, by Director Patrick A. Cozza who bought 4,000 shares at a cost of $37.32 each, for a total investment of $149,280. Before this latest buy, Cozza made one other purchase in the past year, buying $137,400 shares at a cost of $34.35 each.
2-Year Sentence for Man Convicted of Insider Amazon Trading (MSN)
Hydroxychloroquine study further erodes credibility of health ‘experts’. Putin sends message ahead of Biden meeting. SEATTLE (AP) — A Washington state man who admitted using inside information from his wife about Amazon to trade the company’s stock has been sentenced to 26 months in prison. Viky Bohra, 37, received the sentence Thursday for illegally trading Amazon stock after pleading guilty last year to securities fraud, said Acting U.S. Attorney Tessa Gorman. Bohra admitted he made profits of $1.4 million between 2016 and 2018 with information provided by his wife, Gorman said.
A Director at Titan Machinery (NASDAQ: TITN) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Titan Machinery (TITN), Tony Christianson, sold shares of TITN for $1.58M. Following Tony Christianson’s last TITN Sell transaction on January 08, 2021, the stock climbed by 10.3%. In addition to Tony Christianson, one other TITN executive reported Sell trades in the last month. Based on Titan Machinery’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $373 million and quarterly net profit of $10.55 million.
Doordash Inc (DASH) CFO Prabir Adarkar Sold $69.6 million of Shares (Guru Focus)
CFO of Doordash Inc, Prabir Adarkar, sold 488,689 shares of DASH on 06/07/2021 at an average price of $142.39 a share. The total sale was $69.6 million.
