Billionaire hedge fund investor Carl Icahn reportedly misplaced virtually $ 2 billion final yr in dumping his holdings of Hertz because the US rental automotive firm filed for chapter.
Whereas Wall Avenue was promoting, the shares have been purchased on a budget by unbiased buyers in coordinated motion utilizing social media. Whereas hedge funds misplaced billions of , the wager has paid off handsomely for small buyers, as Hertz is now out of chapter.
In response to Max Keiser, Wall Avenue has now been pressured to observe social media developments in evaluating shares.
“Robinhood merchants [who] have been paying 10, 20, 30 cents for these shares are going to get seven or eight bucks for them out of chapter. It’s an enormous win and that is actually a altering of the guard… It exhibits that we’ve entered a brand new period,” says Keiser.
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