GameStop has been at the center of it, again soaring on Friday and ending the day up nearly 68%, after trading platforms including Robinhood lifted restrictions on trading the stock. The stock ended the week up 400%.But elsewhere on Wall Street, the picture was bleak. It was the last trading day of January and the Dow and the broader S&P 500 logged their worst month since October.For the day, the Dow finished 2%, or 621 points, lower, and the S&P ended down down 1.9%.
But one thing is for sure: The Pandora's box of social media investing has been opened and we won't be able to close it again, Sam Stovall, US equity strategist at CFRA Research, told CNN Business.It's not GameStop itself that matters in this scenario -- it's more about how the company's stock rally exposed flaws in the system, said Brad McMillan, chief investment officer at Commonwealth Financial Network.
On the CNN front page it says silver is trending as people sell their GME shares. Citadel is Robinhood's largest customer holding those shorts that are being squeezed, and Citadel has longs in silver. Don't convert your RH GME shares to silver. This is what RH & Citadel want.
Thanks Biden. Great job screwing the economy and the little guy trying to trade all at once.
Finally they should feel the pain they have caused to average joe
Could it also be-oh I don’t know-Joe Biden’s handlers being in charge?
The market has no direct tie to economic reality, as we have seen.
Thank You Joe Biden.... please send bread and some butter... This is only a start of the next “Great Depression”
It is time
Awesome
The Biden dip
I swear this bout to turn into Martin shkreli of Wall Street
Thanks Joe
Good
The rich trying to keep regular folks from gettin that paper. Typical
Logged their worst month since October ... so it’s been threee months — swings happen....and it’s hilarious watching hedge fund people loose their shirts.