markets

Jack Raines7/1/24

Keith Gill sued in class action lawsuit alleging a “pump and dump”

It's been a busy few days for Keith Gill, who, besides disclosing a nine-figure position in a pet food retailer, is now the defendant in a class action lawsuit accusing him of "engaging in a scheme to pump and then dump" GameStop call options in May and June.

Nevada resident Martin Redav, who owned 35 GameStop shares and two call options, is the plaintiff leading the lawsuit.

Redav claimed that Gill "participated in a scheme to defraud and committed acts, practices, and participated in a course of conduct that operated as a fraud or deceit on purchasers of the Company’s securities during the Class Period (May 13 through June 13) for his own benefit."

Update: 4:30 PM July 1, 2024: Plaintiff Martin Redav has voluntarily dismissed the lawsuit against Keith Gill

‘Roaring Kitty’ Sued Over Alleged GameStop ‘Pump and Dump’

‘Roaring Kitty’ Sued Over Alleged GameStop ‘Pump and Dump’

Redav claimed that Gill "participated in a scheme to defraud and committed acts, practices, and participated in a course of conduct that operated as a fraud or deceit on purchasers of the Company’s securities during the Class Period (May 13 through June 13) for his own benefit."

Update: 4:30 PM July 1, 2024: Plaintiff Martin Redav has voluntarily dismissed the lawsuit against Keith Gill

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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