U.S. stocks jumped on Thursday, roaring back from a sharp sell-off on Wall Street that saw the S&P 500 and the Dow Jones Industrial Average suffer their worst drop in three months.
The market suffered steep declines in the previous session, with the S&P 500 and the Dow posting their biggest one-day decline since October, as the speculative buying frenzy in heavily shorted stocks kept investors on edge. Some feared that hedge funds being squeezed could be forced to reduce their equity holdings to raise cash. Others called it a sign of a bubble forming in the market.
GameStop, a red-hot target on the WallStreetBets Reddit chat room, fell 44% amid multiple trading halts, cutting its massive week-to-date gain to 197%. AMC Entertainment fell 56% after soaring a whopping 300% in the previous session. Bed Bath & Beyond slid 36%.
Buy the dip while it’s cheap!! People will transition over to new trading platforms like Fidelity investments, E-Trade, CashApp, Etoro and now again WebullGlobal !! It’s only a matter of time before prices start rising! 🚀 wallstreebets $GME $AMC $NAKD $NOK
Total market manipulation by the brokers at the cost of the little guy. Time for DeFi Bitcoin
'buying Gamestop is ANTI THEMITICCC!!!!'
Again: Muck The Finstitution!