NEW YORK - A chunk of President Joe Biden’s coronavirus relief package is poised to end up in the stock market and could provide a boost for GameStop and other stocks embraced by individual investors active in online social media forums.The relief package, which is on track to be signed into law later this week, is set to provide $400 billion in direct payments of $1,400 per person, helping individuals earning less than $80,000 annually and couples making less than $160,000.
At that rate, the amount from the latest package that could go into stocks ranges from $25 billion, if only traders with online accounts spend money on stocks, to as much as $150 billion, if all stimulus recipients spend their checks in the market in the same proportion, according to Deutsche Bank strategist Parag Thatte.
If stimulus payments do flow into the stock market, they could end up disproportionately going to GameStop or other stocks favored by retail investors active on social media platforms. There was some evidence of stimulus excitement among investors on social media platforms. On the popular WallStreetBets forum, an account called “IwantSpaceX” posted: “Lets get our Stimmy checks IN!”
The 2nd and now the 3rd stimulus payments are NOT being sent out to those that filed their 2019 paper returns ON TIME due to the 7 million+ not yet processed 2019 returns. IRS is falsely claiming they did not receive those paper returns AFTER cashing their 2019 check payments.
Have at it😁
Let's hope that stocks aren't the only thing that benefits from the stimulus package.
Thank GOD the stocks will be ok!
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I'm still waiting on the second $600 check. You know the one supposedly sent out January/February 2021...
$GME
It will be gone on past due bills within days. The rich will get richer.
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good thing nothing is ever priced in
Good news..
OH RLY NOW
good
Doctor trump realdonaldtrump will love to see high numbers in the stock market and high numbers in death rates
No shit