Remember that? It s going to be gone by Easter.
GUTFELD: You re rewriting history.
WILLIAMS: Not to mention drinks are crazy things.
(CROSSTALK)
GUTFELD: He never said that either. He never said drinking crazy things.
WILLIAMS: Yes, he never said it would be gone by Easter.
(CROSSTALK)
WATTERS: A lot of the old fight.
GUTFELD: You people hoax.
WATTERS: All right, Juan.
WATTERS: It s hydroxychloroquine, Juan.
WILLIAMS: There s no way
WATTERS: All right. Let s move it along.
WILLIAMS: There is no way to rewrite Trump s failure. No. There is now way
to rewrite Trump s failure.
WATTERS: Again, Juan
WATTERS: Juan, again, this is also a deflection. OK, Juan.
Wall Street Madness and Unintended Consequences
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You just couldn’t make this up if you tried. That was the consolation prize most of us took from 2020 to 2021: no matter what happens in this still young year, at least we are all immune to shocks. But as is often the case, when we think we have seen everything, we get to see something new.
GameStop was something new this week. More specifically, the unlikely and spectacular rise in the stock price – which, at the time of writing, was approximately $ 336 per share. How it got there is hardly a story of great strategy or inspiring individual endeavors. In fact, nothing major has changed in the past year about GameStop, a video game store in Grapevine, Texas with its headquarters in malls nationwide.
Published Jan. 28, 2021Updated Jan. 30, 2021
A day after GameStop shares rose 135 percent a wild upswing spurred by an online army of investors on a mission to challenge the dominance of Wall Street Robinhood, the stock-trading app at the center of it all, clamped down.
Almost immediately, GameStop’s shares plunged, falling 75 percent in 90 minutes.
The limits on trading by Robinhood and other online brokerages, put in place as fears of market instability grew more widespread, set off a furious outcry among small investors. They claimed that the very apps that had democratized trading Robinhood in particular were now doing the bidding of Wall Street.