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Why is MarketWatch Running Cover for Coreweave?
The Coreweave story finally got some financial press attention today, but it was the wrong kind. Marketwatch has ignored a mountain of circumstantial but substantial evidence that points a major problem involving the suspicious flow of money from Magnetar to Coreweave to Nvidia and the subsequent rally in Nvidia's stock price. Instead a man claiming to be a journalist named Wallace Witkowski and Bernstein Analyst Stacy Rasgon opted for personal attacks, a distracting focus on unimportant nuance, and irrelevant details. The message from Marketwatch is clear: don't look there. This is an open call to any journalist with integrity, I will gladly share all my notes with anyone willing to look into this story. Nearly two weeks into this story and still not a single journalist has asked for so much as a comment. Some pertinent links below:
Link to ICIJ website showing Coreweave Exec's network of shell companies in the Cayman Islands: https://offshoreleaks.icij.org/nodes/80072466
Link to Propublica piece on The Magnetar Trade: https://www.propublica.org/article/all-the-magnetar-trade-how-one-hedge-fund-helped-keep-the-housing-bubble
Link to Nvidia's 2022 Settlement with the SEC for failure to disclose the impact of crypto mining: https://www.cfodive.com/news/sec-fines-nvidia-55m-failing-disclose-cryptomining-impact/623596/
Link to Nvidia's 2000 Settlement with the SEC for Financial Reporting Fraud: https://www.sec.gov/litigation/litreleases/lr-18343
Link to Wallace Witkowski's utter failure of journalistic integrity: https://www.marketwatch.com/story/before-you-short-nvidia-after-reading-investment-advice-from-twitter-randos-read-this-a797b730?mod=home-page
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