Trump and the GE: Citadel, Gabe Plotkin Finesse Charlotte Hornets Out Of Michael Jordan occurs tonight at 7:30PM. The GameStop saga dominated the 24-hour news cycle in 2021. A group of Robinhood investors piled into to GME, created a short squeeze of epic proportions. The short squeeze took several legs up as well-heeled investors like Dave Portnoy of Barstool Sports and several institutional investors piled into GME, causing acute pain for short sellers.
GME’s parabolic rise and (1) who were the masked men behind it and (2) who was taking a bloodbath on the other side reached the attention of the mainstream media. Suddenly, people who did not follow the stock market began following GME, adding fuel to the fire. It likely reached meme status after a CNBC commentator asked Federal Reserve Chairman Jerome Powell what the Fed was planned to do to stop the “cheaters’ behind the short squeeze. Politicians and regulators eventually stepped in to limit trading in GME to help short sellers and save the fragile financial system.
After the dust settled, Gabe Plotkin of Melvin Capital had practically gone belly up. Melvin Capital needed a capital infusion from Citadel to stay afloat. However, several of Melvin Capital’s investors – including former Charlotte Hornets owner and NBA great Michael Jordan – may have been wiped out in the process. Trump and the GE will parse through the continuing saga and tonight at 7:30PM.
Trump and the GE: Citadel, Melvin Capital Finesse Michael Jordan – 7:30PM Tonight
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