Scaramucci Says He Hopes the Trump SPAC Keeps Soaring So He Doesn’t Run for President Again (CNBC)
Hedge-fund founder Anthony Scaramucci, who briefly served in the Trump administration, told CNBC on Friday he wants the SPAC linked to former President Donald Trump to succeed because it may stop him from running in the 2024 election. Scaramucci’s comments on “Squawk Box” came as shares of special purpose acquisition company Digital World Acquisition Corp., which plans to merge with the newly created Trump Media & Technology Group, soared again in Friday’s premarket trading. Shortly after Wall Street’s open, DWAC again surged higher, one day after shares jumped more than 350% to close at $35.54 apiece on the late Wednesday tie-up announcement.
Hedge Funds Make Millions as SPAC Shares Soar Post Trump Deal (CityA.M.)
Hedge funds made millions in potential gains as the shares of a special purpose acquisition company (Spac) that merged with Donald Trump’s new social media soared to 421 per cent yesterday, the Financial Times reported. Called Digital World Acquisition Corporation, the Spac’s shares rose from $9.96 to $51.90, closing at $45.50 – a 357 per cent increase compared to the previous day. The group of 11 hedge funds – including DE Shaw and Saba Capital – bought Digital World in September and owns almost all of its $293m IPO. After the deal with Trump, the Spac’s 25 million units listed were worth collectively more than $1bn.
Friday 10/22 Insider Buying Report: ODC, HSON (Nasdaq.com)
On Wednesday, Oil-Dri Corp. of America’s Director, Allan H. Selig, made a $34,910 purchase of ODC, buying 1,000 shares at a cost of $34.91 a piece. So far Selig is down about 0.5% on the buy, with the stock changing hands as low as $34.72 in trading on Friday. Oil-Drip of America is trading up about 0.1% on the day Friday. Before this latest buy, Selig purchased ODC at 2 other times during the past twelve months, for a total cost of $68,890 at an average of $34.45 per share. And at Hudson Global, there was insider buying on Thursday, by Chief Executive Officer Jeffrey E. Eberwein who purchased 1,500 shares for a cost of $16.30 each, for a total investment of $24,450. Before this latest buy, Eberwein bought HSON at 34 other times during the past year, for a total cost of $671,902 at an average of $16.77 per share. Hudson Global is trading up about 0.7% on the day Friday. Eberwein was up about 1.4% on the purchase at the high point of today’s trading session, with HSON trading as high as $16.53 in trading on Friday.
Charles Schwab Insider Trades $15M In Company Stock (Benzinga)
Charles Schwab, Director at Charles Schwab (NYSE:SCHW), made a large insider sell on October 20, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Schwab sold 209,911 shares of Charles Schwab at prices ranging from ($0.00) to $81.18. The total transaction amounted to $15,039,410. Schwab still owns a total of 84,440,434 shares of Charles Schwab worth, $6,910,605,118.
The Chief Executive Officer of Critical Elements (Other OTC: CRECF) is Selling Shares (Analyst Ratings)
Today, the Chief Executive Officer of Critical Elements (CRECF), Jean-Sébastien Lavallée, sold shares of CRECF for $1.09M. This is Lavallée’s first Sell trade following 3 Buy transactions. In addition to Jean-Sébastien Lavallée, 2 other CRECF executives reported Sell trades in the last month. CRECF’s market cap is $264 million and the company has a P/E ratio of -108.70. Currently, Critical Elements has an average volume of 118.72K. The company has a one-year high of $1.52 and a one-year low of $0.42.
The CFTC Just Gave $200 Million to a Whistleblower in Its Biggest-Ever Award to a Single Individual (Business Insider)
The Commodity Futures Trading Commission said on Thursday that it just awarded $200 million to a single whistleblower. The payment represents the largest award ever to a single individual since the CFTC started its whistleblower program in 2014 under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
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