GameStop and other social media darlings rebounded in calmer trading on Wednesday from their sharp sell-off in the prior session as investors turned their focus to the possibility of tighter U.S. trading regulations.
HEADLINES & GLOBAL NEWS
Feb 03, 2021 02:09 PM EST
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Brooke McAfee | CNHI News Indiana Feb 3, 2021
Feb 3, 2021
JEFFERSONVILLE, Ind. â Financial advisers with Edward Jones say the recent situation involving GameStop stocks is a case of âshort-term volatilityâ but do not expect significant long-term effects on the overall market.
CNHI News Indiana spoke with a financial analyst and a financial adviser to break down the recent frenzy of speculative trading.
Recently, a rush of such trading led by a Reddit forum called WallStreetBets caused stocks in GameStop and others to skyrocket.
But after the initial frenzy, GameStop shares and other shorted stocks plunged this week as the overall stock market rose.
Stocks like Tata Motors rose more than 15 percent, HDFC Bank rallied more than 5 percent to a fresh 52-week high while KNR Construction rose by about 10 percent were some of the stocks in focus on Tuesday.