68% crash during game stop intraday… Wall Street increases tensions in’extreme volatility’

On the 27th (local time), traders are working at the entrance hall of the New York Stock Exchange, USA. (Photo = AP/Yonhap News)

[뉴욕=이데일리 김정남 특파원] The stock price of GameStop, a US video game retail chain, is plummeting. The roller coaster market is so extreme that it falls close to 68% during the week. Other stocks with intensive buying by individual investors are also falling sharply.

According to Market Point on the 28th (local time), as of 2:22 pm on the day, Gamestop’s stock price is trading at $231.01 per share, down 33.52% from the previous trading day. Gamestop stock prices started falling, soaring to $483.00 at one time in the morning and then plummeting to $112.25 again. It fell to 67.59% at one time during the week.

It’s not just a game stop. AMC’s share price, which soared 301.21% the day before, is currently trading at $9.12, down 54.10%. It fell to $6.51 during the intraday. Express shares fell 50.58% to 4.72%. Bad Beth & Beyond and Blackberry stocks are falling 39.38% and 39.27%, respectively.

This sudden crash is when the whole of Wall Street is watching the’game stop phenomenon’, which was considered an incident. In the online community Reddit’s ‘Wall Street Betz’ discussion room, when ants systematically ganged together some hedge funds to the edge of the cliff, they expanded it to issues across Wall Street.

Robin Hood and Interactive Brokers, which feared an abnormal surge in GameStop stock prices, announced that they would restrict GameStop stock trading. This is the direct cause of the stock price crash. In addition, tensions rose as regulatory authorities such as the Securities and Exchange Commission (SEC) said that they are “actively monitoring”. It seems that there is a judgment that there is a strong speculative tendency that has nothing to do with corporate fundamentals. He even went to the White House to watch the situation.

‘Hedge Fund Emperor’ David Teffer, the founder of Appaloosa Management, came to CNBC and directly discussed the possibility of a collapse like the dot-com bubble, saying, “When the bubble burst in 1999, things did not end well.”

Nevertheless, many ants are still burning the will of a decisive battle against the forces of publicity. One individual investor posted a post on Reddit’s bulletin board saying, “Do not be afraid of a plunge in Gamestop’s stock price and keep buying it,” CNBC said, with more than 1,000 comments posted on it.

Meanwhile, the three major New York indices, including the Dow Jones 30 Industrial Average, Standard & Poor’s (S&P) 500, and technology stock-oriented NASDAQ, are rebounding from mid-1% during the week.

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