GameStop is at the center of a stock market battle for the ages. The stock is on its way up and continues to rise. The three largest shareholders have made more than $2 billion as a result.
Hedge funds had shorted the stock, betting on the company tanking during the pandemic. Reddit users got wind of it and decided to work against the Wall Street bet and started buying the stock up. So while smaller investors started to make money, hedge funds were losing their behinds and now they are calling foul. They manipulated the stock, others manipulated right back, and trading was briefly halted as those who were used to winning started to lose and suddenly didn’t like the rules.
This is shining light on how much power some groups have to pervert the stock market. It could result in regulatory changes, perhaps making stock shorting illegal.
So wealthy people tried to game GameStop and were gamed themselves and that could change the rules of the game. So punk and so meta!
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China says that it is a victim of censorship after Twitter temporarily blocked the account of the Chinese embassy. Pot and kettle.
The embassy had posted a Tweet defending Beijing’s treatment of the Uyghurs. The offending Tweet said: “In the process of eradicating extremism, the minds of [Uyghur] women in Xinjiang were emancipated and gender equality and reproductive health were promoted.”
The United States maintains that China has not actually promoted equality for this ethnic group. In fact, the U.S. believes that China is committing genocide and crimes against humanity in regards to this group.
Twitter says that this Tweet violated the company’s policy, which prohibits “the dehumanization of a group of people based on their religion, caste, age, disability, serious disease, national origin, race, or ethnicity.” It says that the embassy’s Twitter account will remain inactive until the offending Tweet is deleted.
Currently, a negative test is required for most international flights but not domestic.
The Biden administration said that it is “actively looking” at making Covid tests a mandatory part of your boarding documents. While this could make flying safer, the airlines worry that it will slow business even more given how hard to find and costly Covid tests can be.
Negative Covid tests are required for travelers coming into the U.S. and the U.S. is still asking that U.S. citizens “reconsider non-essential travel abroad.”
28 trillion tons. That is how much ice was lost to the planet between 1994 and 2017 due to global warming, according to a study published this week. Scientists used a huge 6-mile high ice cube over New York City to illustrate the amount that is lost per year. The rate of loss has increased by 57% per year.
25. That is how many states lack basic protections for LGBTQ people, according to a report from the Human Rights Campaign. This is slightly better, down from 27 states last year.
80%. That is the percentage of mayors that say that their police budgets are “about right,” and do not need to be defunded, according to a recent survey. The mayors say that last year’s racial injustice protests have prompted good changes in their police departments and that defunding is not necessarily the answer.
The Biden administration has rescinded the “zero tolerance” policy from the Trump administration’s immigration policy. This is the rule that allowed the separation of parents and children because those who entered the U.S. from the southern border illegally were prosecuted with “zero tolerance.”
Over 3,000 children were separated from their parents under this policy and hundreds of children still are. Acting Attorney General Monty Wilkinson said that the policy “was inconsistent with the Department’s longstanding principle that we exercise judgment and make individualized assessments in criminal cases.”
Family separations were halted by the Trump administration in June of 2018 but the policy remained in place. Still, the Biden administration has an uphill battle to re-write immigration policy. It tried to pause deportations but a federal judge in Texas blocked that plan so the deportations continue. The administration also haulted the “remain in Mexico” program that required many to wait in Mexico for their asylum-seeking court hearings.
There is a lot in limbo in the meantime. What a mess.
A filter is preventing trash from flowing from the canyons into the ocean between Tijuana and San Diego. This is the first time a system like this has been used in the region and apparently it is working.
A plastic barrier rises with the water level and stops trash from free flowing into the sea. That trash will be collected and recycled before it can overflow and harm wildlife and the ecosystem.
This solution came from an environmental group called WILDCOAST and was paid for by a government grant. The group hopes to install more and also help promote proper trash disposal in the surrounding neighborhoods.