Hedge-Fund Titans Lose Billions to Reddit Traders Running Amok (Bloomberg)
For once, Main Street is beating Wall Street. In a matter of weeks, two hedge-fund legends — Steve Cohen and Dan Sundheim — have suffered bruising losses as amateur traders banded together to take on some of the world’s most sophisticated investors. In Cohen’s case, he and Ken Griffin ended up rushing to the aid of a third, Gabe Plotkin, whose firm was getting beaten down.
Several Hedge Funds Stung by Market Turmoil (The Wall Street Journal)
More hedge funds are being hit by losses on the recent market turmoil. Traders say the pain that has afflicted top hedge funds Melvin Capital Management and Maplelane Capital in recent days is spreading, as an increasing number of stocks with significant short interest surge and as funds dealing with losses pull back their exposure to the stock market on both the long and short sides of their portfolios.
Thursday 1/28 Insider Buying Report: INTC, DFH (Nasdaq.com)
At Intel, a filing with the SEC revealed that on Monday, CEO Robert Holmes Swan purchased 27,244 shares of INTC, at a cost of $55.57 each, for a total investment of $1.51M. Intel Corp is trading up about 5.8% on the day Thursday. Before this latest buy, Swan bought INTC at 2 other times during the past twelve months, for a total cost of $761,674 at an average of $47.48 per share. And also on Monday, COO Doug Moran bought $780,000 worth of Dream Finders Homes, buying 60,000 shares at a cost of $13.00 each. Dream Finders Homes is trading up about 2% on the day Thursday. So far Moran is in the green, up about 76.8% on their buy based on today’s trading high of $22.99.
Stamps.com Inc (STMP) CEO of subsidiary ShipStation James Nathan Jones Sold $18.1 million of Shares (Guru Focus)
CEO of subsidiary ShipStation of Stamps.com Inc, James Nathan Jones, sold 75,031 shares of STMP on 01/27/2021 at an average price of $241.35 a share. The total sale was $18.1 million. Stamps.com Inc provides internet-based postage solutions. Its customers use the Company’s service to mail and ship a variety of mail pieces, including postcards, envelopes, flats and packages, using a range United States Postal Service mail classes.
The Chief Risk Officer of Goldman Sachs Group is Exercising Options (Analyst Ratings)
Yesterday it was reported that the Chief Risk Officer of Goldman Sachs Group (GS), Brian J Lee, exercised options to sell 5,017 GS shares for a total transaction value of $1.45M. This recent transaction decreases Brian J Lee’s holding in the company by 16% to a total of $11.53 million. In addition to Brian J Lee, 11 other GS executives reported Sell trades in the last month.
