Stocks Close Down 2% as GameStop Frenzy Continues

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Shares of GameStop closed the week up 400%, while the S&P 500 suffered its worst week since October, capping a wild week on Wall Street

U.S. stocks ended lower Friday as frenzied trading continued to drive GameStop and other heavily shorted shares, pointing to a volatile end to 2021’s first month of trading.a day after rising nearly 1%The DJIA and S&P 500 fell more than 3%, their sharpest weekly declines since October. The two indexes finished January in the red. The Nasdaq held on to a 1.4% gain for the month, but had the worst week of the three indexes, down 3.5%.

While the market has been fixated on the shorts vs. Reddit feud, investors shouldn’t be surprised by the market’s recent losses, observers say, given that it has been in a long upswing. This week in fact represents the worst week for the major indexes since Oct. 30, before the election. The Dow was up about 15% from Oct. 30 through Thursday’s trading, and set four record highs in January. The S&P 500 was up 16% in the same span, and set five record highs in January.

 

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It was a real shitshortshow

WE WILL DEFEAT COLLECTIVISM THROUGH STONKS!!!!!!!!!!!!!

SethAbramson WE LIKE THE STOCK

Joe Biden is good for the economy. LMAO!

SethAbramson Wall street you are pretty much vampires and gamblers, most of what you do has nothing to do with helping business grow.

SethAbramson

SethAbramson AbolishTheStockMarket

I feel really sorry for all those hedge funds 😂😂

Aww. Poor hedge funds. Cry me a river and maybe I'

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