Zillow Comes Unglued, Lost $1.4 Billion on Flipping Houses since 2019, Bails Out, Lays Off 25% of Staff, Stock Plunges Further by Wolf Richter • Nov 2, 2021 • 146 Comments Another one of the most hyped Wall Street schemes belly-flops.
House Flipper Zillow Seeks to Dump 7,000 Houses to Big Investors after Reports it Overpaid: Buy High, Sell Low, Take “One-Time Noncash Charge?” by Wolf Richter • Nov 1, 2021 • 187 Comments How Zillow helped whip house prices higher and got caught with its pants down (AI = artificial idiocy?).
Banks Disclose Tidbits of Hidden Stock Market Leverage, as Known Stock Market Leverage Surges by Wolf Richter • Oct 15, 2021 • 115 Comments No one knows total stock market leverage, but it’s huge and ballooning, as we see from the tidbits we’re allowed to see.
AMC Sold Three Times More Shares than Movie Tickets in Q2, Revenues Down 70% from Q2 2019, as Business Model Collapsed by Wolf Richter • Aug 9, 2021 • 95 Comments It should just forget about selling movie tickets, and stick to selling its shares to future meme-stock billionaires.
The Zoo Has Gone Nuts: PayPal Will Give Me $25 if I Buy Cryptos by Wolf Richter • Jul 28, 2021 • 131 Comments Ah, hefty “fees” & fat “spreads.” But wasn’t the promise of bitcoin to buy stuff without using fiat currency payment systems such as PayPal?
Fed’s Reverse Repos Spike to $1 Trillion. Cash Drain Undoes 8 Months of QE by Wolf Richter • Jun 30, 2021 • 139 Comments Giant sucking sound of cash.
EV SPAC Lordstown Shows Why this Market Needs Short Sellers More than Ever; They’re the Only Sheriff Left in Crazy Town by Wolf Richter • Jun 17, 2021 • 86 Comments Lordstown now says it has “No Binding Orders” after saying it had “Binding Orders,” after admitting it had “No Binding Orders,” after hyping its binding orders for months. Sheesh.
A Glimpse at Hidden Stock Market Leverage of “Securities-Based Lending,” as Known Stock Market Leverage Spikes to WTF High by Wolf Richter • Jun 16, 2021 • 96 Comments We don’t know how much total leverage there is, but from the trends in margin debt, we know it’s huge and ballooning.
Fed’s Reverse Repos Hit $503 Billion. Liquidity Drain Undoing over 4 Months of QE by Wolf Richter • Jun 9, 2021 • 144 Comments New York Fed’s Williams prepares markets for “technical adjustments” to the Fed’s “administered interest rates” to get a handle on this phenomenon.
AMC Insiders Dumped Huge Portions of their Shares after WTF Spike, AMC Sold Shares, and Wanda is Already Outa There by Wolf Richter • Jun 5, 2021 • 141 Comments But who’s buying? CEO Adam Aron is schmoozling and bamboozling the Reddit crowd.
