GameStop craze puts holders of retail ETF on wild ride
GameStop craze puts holders of retail ETF on wild ride Premium Michael Wursthorn Share Via Read Full Story GameStop mania has spilled over into a popular exchange-traded fund, as the WallStreetBets craze reaches beyond shares favored on social media. The fund, State Street’s SPDR S&P Retail ETF, was created in 2006 to give investors broad exposure to mall-store firms. Its shares have surged 23% this year, far outstripping a 4% gain in the S&P 500, despite the uncertain outlook for retail. Behind those gains are the traders who congregate on social-media platforms such as Reddit’s WallStre...
Source: livemint.com