(Photo = Reuters = Yonhap News)
The stock price of GameStop, which has garnered a lot of attention due to the US’rebellion of ants (individual investors), is plunging.
On the 4th (local time) in the New York Stock Market, GameStop closed the deal at $53.50 per share, down 42.1% from the battlefield.
Gamestop, which soared over 400% last week and recorded a monthly increase of over 1600%, is showing a decline of more than 30% every day as February enters.
Even though Robin Hood, a free stock app (application), increased the limit for individual investors’ purchase of GameStop stock to 500 shares, the stock price plummeted. Additional purchases by investors who already hold more than 500 shares are still prohibited.
The news that Treasury Secretary Janet Yellen will meet with the heads of the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the US Central Bank (Fed) this week to discuss the’Game Stop Incident’ burdened investors. It is interpreted as giving.
In response to the short selling of hedge funds, individual investors, who gathered around the online community Reddit’s’Wall Street Betz’ discussion room, raised the gamestop stock price with collective buying, hitting the short selling force and attracting attention.
Contrary to GameStop, the major index of the New York Stock Exchange continued to rise.
The Dow Jones 30 Industrial Average rose 332.26 points (1.08%) to 31,055.86, the Standard & Poor’s (S&P) 500 rose 41.57 points (1.09%) to 3,871.74, and the Nasdaq index rose 167.20 points (1.23%) to 13,777.74, respectively. Closed.
The S&P 500 and Nasdaq indices rewrite their new highs based on the closing price.
Meanwhile, the U.S. authorities launched an investigation into YouTubers who were engaged in a gamestop purchase campaign.
According to the New York Times (NYT), the Massachusetts government sent a letter to the Massachusetts Mutual, a former employee of Keith Jill, 34, who engaged in a gamestop purchase campaign through the Internet site Reddit and YouTube channels.
Jill, who got a job at Massachusetts Mutual in April 2019, opened a YouTube channel called’Roaring Kitty’ last summer and led the ant revolt against the short selling of hedge funds.
He notified of his resignation on the 21st of last month, just before GameStop’s stock price surged, but the actual retirement process was completed on the 28th of last month, when Gamestop’s stock price peaked.
Experts pointed out that Jill may have violated internal regulations in the financial industry.
Eunji Cha, reporter Hankyung.com [email protected]