Anonymous ID: 1516d2 Jan. 29, 2021, 6:20 p.m. No.12761914   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun

https://apnews.com/article/gamestop-amc-stocks-soar-reddit-7f9b08bd494512dd8610daf55705d250

GameStop soars again; Wall Street bends under the pressure

The assault is directed squarely at hedge funds and other Wall Street titans that had bet the struggling video game retailerโ€™s stock would fall. Those firms are taking sharp losses, and other investors say thatโ€™s pushing them to sell other stocks they own to raise cash. That, in turn, helps pull down parts of the market completely unrelated to the revolt underway by the cadre of smaller and novice investors.

The maniacal moves for GameStop and a few other formerly beaten-down stocks has drowned out many of the other issues weighing on markets, including the virus, vaccine rollouts and potential aid for the economy.

โ€œOur consideration is whether this is something that is a long-term influence or contained within a handful of companies,โ€ said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

Meanwhile, calls for regulators to step in are growing louder on Capitol Hill, and the Securities and Exchange Commission says itโ€™s carefully monitoring the situation.