Daily Popular Tickers Thread for July 08, 2021 – AMC | GME | CLOV

Your daily hype thread. Please keep the shitposting to a maximum.

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  1. If CLOV were to magically shoot up one day, and go +30%, it would get to $12 and most of you would still be at substantial losses. I do not understand the mentality of watching it sink day after day, especially when the floor is at least another 25% below where it is now.

  2. CLOV is gonna make more millionaires than the lambo dealership can handle. πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€πŸ€

  3. “In 2021, Palihapitiya announced he planned to help take SoFi, a financial services platform,[38] and Clover Health, a Medicare insurance company, public through SPACs.[39] This gained Palihapitiya criticism from the Financial Times, which said that he is “shilling risky reverse-mergers to retail investors on a almost bimonthly basis”.[40]

    Following the Clover Health SPAC, Hindenburg Research, a financial analyst and short-selling specialist firm, issued a report about this transaction accusing Palihapitiya of luring investors into a β€œbroken business”,[41] argumenting that he failed to inform them about an active Department of Justice investigation into Clover’s alleged deceptive business practices.[42] Palihapitiya made more than $290 million from the deal based on a $25k investment.[43][44] In addition the Clover Health co-founder/CEO’s previous company, CarePoint Health, a hospital conglomerate in New Jersey, was accused of price gouging customers and according to a NJ state commission siphoning off $150 million to himself and his friends bankrupting the company and causing a hospital crisis in NJ.[45] Regulators in NJ called for an investigation of Clover Health because of the CEO’s previous actions.[46] The Securities and Exchange Commission opened an investigation into the allegations set forth in the Hindenburg Research report on 4 Feb.[47][48] When asked about the allegations, Clover Health CEO Vivek Garipalli went on a expletive ridden tirade with a Forbes reporter.[49]

    During the GameStop short squeeze, Palihapitiya repeatedly attacked Robinhood and its founders for being unethical by selling payment for order flow to HFT firms like Citadel Securities and pushed his fans to switch over to SoFi, which was merging with his SPAC yet failed to mention that SoFi employs the same practice of selling payment for order flow to HFT firms (including to Citadel Securities) and owns a 16% stake in Apex Clearing Corp a clearing house involved in the controversy.[50][51][52]

    On 6 March 2021, Yahoo Finance reported that Palihapitiya reflected that “his relative performance vs the S&P500 [was] 3.6% compared to 2.3%, or 56% above the benchmark.”[53] It was later criticized by venture capitalists, investors, and financiers that his reporting of his statistics as 56% above the benchmark, rather than as 1.3% above the benchmark, which they stated could be seen as ‘inflationary,’ ‘non-kosher,’ or ‘manipulative of Main Street’s view of him as an investor.'[54]”

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