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Trying to sell or buy a home this summer? What a realtor says you should know
In the first few weeks of summer, the real estate sector is experiencing an upturn marked by more housing inventory, a Canadian realtor says
Investors in GameStop have for now withdrawn their lawsuit accusing Keith Gill, who is known as "Roaring Kitty" and helped spur the meme stock mania of 2021, of defrauding them through a "pump-and-dump" scheme for the videogame retailer.
A proposed class action accusing Gill of securities fraud was filed on Friday in the Brooklyn, N.Y., federal court, but voluntarily withdrawn on Monday without explanation. The lawsuit can be refiled, according to the filing.
Lawyers at the Pomerantz law firm, which represents the investors, did not immediately respond to requests for comment.
Investors led by Martin Radev, who lives in the Las Vegas area, said Gill manipulated GameStop securities between May 13 and June 13 by quietly accumulating large quantities of stock and call options, then dumping some holdings after emerging from a three-year social media hiatus
They said Gill's activities caused GameStop's share price to gyrate wildly, generating "millions of dollars" in profit for him at their expense.
"Defendant still enjoys celebrity status and commands a following of millions through his social media accounts," the complaint said. "Accordingly, Defendant was well aware of his ability to manipulate the market for GameStop securities, as well as the benefits he could reap."
Gill did not immediately respond to requests for comment on Monday.
On May 12, he posted a cryptic meme on the social media platform X that was widely seen as a bullish signal for GameStop, whose stock he cheerleaded in 2021.
GameStop's share price more than tripled over the next two days, then gave back nearly all the gains by May 24.
On June 2, Gill revealed that he owned five million GameStop shares and 120,000 call options, and on June 13 revealed he had shed the call options but owned nine million GameStop shares.
Investors said the truth about Gill's investing became known on June 3 when the Wall Street Journal wrote about the timing of his options trades and said the online brokerage considered kicking him off its platform.
The meme stock mania was fueled in part by investors stuck at home during the pandemic, and led to a "short squeeze" that caused losses for hedge funds betting stock prices would fall.
On Monday, trading in Chewy shares became volatile after Gill revealed a 6.6 per cent stake in the pet products retailer.
In the first few weeks of summer, the real estate sector is experiencing an upturn marked by more housing inventory, a Canadian realtor says
Ontarians could see long lineups at LCBO stores across the province today as customers prepare for a possible strike that will close all LCBO locations for the next two weeks.
Patrick Bertoletti of Chicago has won his first men鈥檚 title at the annual Nathan鈥檚 Famous Fourth of July hot dog eating contest, while dental hygiene student Miki Sudo of Florida has won her 10th title.
As receipts tick ever higher for Canadians at the grocery store and shoppers continue to search for savings, one Canadian grocer has ended a perceived deal.
The British power couple got hitched in 1999, fusing the worlds of fashion and football forever. While their marriage has endured 25 years later, the pair have come to regret some of the minor details of their big day.
Hurricane Beryl ripped off roofs in Jamaica, jumbled fishing boats in Barbados and damaged or destroyed 95 per cent of homes on a pair of islands in St. Vincent and the Grenadines before rumbling toward the Cayman Islands and taking aim at Mexico's Caribbean coast after leaving at least seven dead in its wake.
A B.C. judge has ordered the sale of a Surrey home despite the objections of the woman who lives there, who owns it jointly with her son.
A majority of Canadians think Prime Minister Justin Trudeau will stay on to lead his party in the next election even as his approval ratings are still extremely low, a new poll suggests.
A landlord in Ottawa is facing thousands of dollars in repairs after his tenant left his only rental property damaged and disorderly.
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Philip Kim, who competes as "B-Boy Phil Wizard," is set to make Canadian sports history this summer as the country's first-ever Olympic breaking athlete.
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A never-before-lived-in mansion in Whistler is on the market for $17.9 million 鈥 with the listing describing it as a 'steal for the international buyer' due to the current exchange rate, which puts the price in U.S. dollars at $13.1 million.
Irish singer Niall Horan had to ditch his car and walk to Scotiabank Arena where his concert was being held last weekend because the traffic was 'too bad' downtown.
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Travellers flying with WestJet continue to watch as the airline cancels more flights due to a sudden strike by its mechanics union.
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The city is entering the final stages of resuming water service through its repaired feeder main, as water consumption continues to fall below the city鈥檚 threshold level.