Individual investor intensive buying..”Historical volatility”
The White House also said, “Yeuiju City, a soaring week such as Game Stop”
On Black Friday last November, American consumers are lining up in front of Gamestop stores in Manhattan, New York. New York = correspondent Cho Jae-gil
The US New York stock market fell sharply in three months on the 27th (local time), while the stock price of GameStop, a game-related retailer, and AMC Entertainment, a theater chain, jumped 2-4 times overnight. However, after the close of the market, after-hours trading is showing a record-breaking volatility, such as plunging again.
On the same day, on the New York Stock Exchange, GameStop shares rose 134.84% to $347.51 per share, and AMC shares rose 301.21% to $19.90, respectively.
The two stocks are companies that have recently engaged in intense battles with individual investors, as short-selling institutions have set them as intensive targets. The day before, Elon Musk, Tesla CEO, posted a message to support individual investors on Twitter. Gamestop’s stock price was only $19.95 per share on the 12th.
It is known that short selling institutions suffered at least billions of dollars in losses due to the surge in stock prices such as GameStop. “We’re watching a phenomenon we’ve never seen before,” said Jim Kramer, CNBC’s stock channel host.
Gamestop stock prices are rising recently
In this regard, White House spokesman Jen Saki emphasized at the regular briefing that “The White House and the Treasury Department are closely watching the cases of companies whose stock prices have skyrocketed recently, such as Gamestop.”
Fed Chairman Jerome Powell said, “I will not comment on specific companies,” when asked about GameStop at a briefing immediately after the Federal Open Market Committee (FOMC) regular meeting.
On this day, the New York Stock Market plunged as the bubble controversy reopened. The Dow index fell 2.02% to 3313.43, the Standard & Poor’s (S&P) 500 index fell 2.57% to 3750.78, and the Nasdaq index fell 2.61% to 13,270.60, respectively.
New York = Correspondent Cho Jae-gil [email protected]
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