It would be nice to find something besides GameStop to blame for the decline.
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How GameStop’s Surge Caused the Stock Market to Drop
The stock market had been able to ignore the wild trading in GameStop and other heavily shorted stocks—until now.
William Galvin, the Secretary of the Commonwealth of Massachusetts, said the New York Stock Exchange should halt trading in GameStop stock for 30 days so it can “cool down.”
The incredible gains in GameStop were too much for short seller Melvin Capital.
We pulled the 10 stocks in the Russell 2000, an index of small-caps, with the highest short interest. GameStop was not surprisingly No. 1. But the next 10 are also worth watching.
GameStop stock’s epic run has caught the attention of the Tesla CEO.
William Galvin, the Secretary of the Commonwealth of Massachusetts, said in a statement to Barron’s that he’s been watching the stock.
A struggling retailer that many, including Barron’s, view skeptically, GameStop has nonetheless roared back to life in recent weeks, but not because anything about its precarious position has changed.
That being said, if you believe the GameStop bubble will eventually pop, it’s probably not the best time to buy these funds now.
Michael Burry said in a now-deleted tweet that he believes there should be legal repercussions for what’s happening with GameStop trading.
The surge in GameStop shares has powered the SPDR S&P Retail Exchange-Traded Fund, contributing about half its 26.6% year-to-date gain, according to Susquehanna Financial Group analysis.
