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TechBytes: 12/18/19

Posted: Dec 18, 2019 / 08:56 AM EST / Updated: Dec 18, 2019 / 08:56 AM EST

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Smaller investors face down hedge funds, as GameStop soars

NEW YORK (AP) — A head-scratching David and Goliath story is playing out on Wall Street over the stock price of a money-losing video game retailer.

An army of smaller-pocketed, optimistic investors is throwing dollars and buy orders at the stock of GameStop — in direct opposition to a group of wealthy investors who are counting on the stock price to plunge.

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California: Criminal rings loot billions in jobless funds

by MICHAEL R. BLOOD, Associated Press / Jan 25, 2021

LOS ANGELES (AP) — Sophisticated hackers, identity thieves and overseas criminal rings stole over $11 billion in unemployment benefits from California last year, but the extent of the fraud might grow far larger: billions more in payments are under investigation.

California Labor Secretary Julie Su told reporters in a conference call Monday that of the $114 billion the state has paid in unemployment claims, about 10% — or $11.4 billion — have been confirmed as fraudulent.

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Twitter launches crowd-sourced fact-checking project

by BARBARA ORTUTAY, Associated Press / Jan 25, 2021

Twitter is enlisting its users to help combat misinformation on its service by flagging and notating misleading and false tweets.

The pilot program unveiled Monday, called Birdwatch, allows a preselected group of users — for now, only in the U.S. — who sign up through Twitter. Those who want to sign up must have a U.S.-based phone carrier, verified email and phone number, and no recent Twitter rule violations.

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