7/26/24

SEC charges Andrew Left, one-time GameStop nemesis, with fraud

Short-seller Andrew Left, who became a sort of public villain to retail traders taking part in the 2021 GameStop drama, faces multiple counts of securities fraud. The SEC says he used his ability to move prices through his public statements “so that he could quickly reverse direction and profit from the price moves following his reports.”

Prosecutors alleged he made at least $16 million of illegal profit from 2018 to 2023. Left hasn’t commented on the charges and didn’t immediately respond to a request for comment.

Short-seller Andrew Left charged with fraud by prosecutors, SEC

Prosecutors alleged he made at least $16 million of illegal profit from 2018 to 2023. Left hasn’t commented on the charges and didn’t immediately respond to a request for comment.

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Claire Yubin Oh

31m

Nvidia falls after Chinese regulator said it violated the country’s antitrust laws in 2020 deal

Nvidia dropped as much as 2.9% in early trading on Monday after China's State Administration for Market Regulation ruled that the chipmaker violated the country's antitrust laws after acquiring Mellanox Technologies, an Israeli-American network solutions supplier.

In 2020, Beijing approved Nvidia's ~$7 billion acquisition under the condition that the chipmaker would not discriminate against Chinese companies. Since then, Nvidia has had to redesign its chips to comply with the US government's regulations that temporarily banned the company from selling its advanced chips, including the H100.

Monday's preliminary finding from the SAMR comes amidst ongoing trade talks between US and Chinese officials in Madrid, with the tariff truce between the world's two largest economies set to expire in November.

As Sherwood’s Luke Kawa noted in August, China has appeared determined to “wean itself off of any dependence on Nvidia and US technology to develop its AI capabilities.”

According to Reuters, under Chinese antitrust law, companies can “face fines of between 1% and 10% of their annual sales from the previous year.” Nvidia’s sales in China generated $17.1 billion of revenue in its most recent fiscal year. Assuming the maximum penalty, the impact would be ~$1.7 billion, less than 1% of Wall Street’s forecast for Nvidia’s total revenue this fiscal year.

Nia Warfield, Luke Kawa

9/12/25

S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Matt Phillips

9/12/25

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips9/12/25

Nia Warfield

9/12/25

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

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