The Dow jumped more than 100 points as the market eased concerns about volatility caused by the rise in GameStop’s share price after it began to fall today. As retail investors on Wall Street have been targeting new silver targets to push up prices. After adopting a similar strategy to GameStop stocks to preach the big hedge funds that are often speculated by short selling in the market.
Mining shares price rebounded today. Responding to more than 11% of silver contract prices hitting an eight-year high.
As of 21.46 GMT, the Dow Jones Industrial Average stood at 30,138.47 points, positive 155.85 points or 0.52%.
The share price of GameStop, the notorious US video game store, was down 8 percent on the day, while online brokerage firm Robinhood. Which offers stock trading services through a free application More than 13 million users of the service announced today a restriction of trading in GameStop shares to stem market volatility.
Last week Small group of investors in the room WallStreetBets With more than 7.6 million members on the Reddit forum, it aims to push GameStop’s share price higher to pressure the hedge fund to buy back the stock to cut losses. After it had been selling short before, it was speculated that GameStop would soon shut down.
GameStop’s share price jumped 400 percent last week and soared 1,625 percent in January, giving the hedge fund a heavy loss. It is expected to be as high as 19 billion, or approximately 570,000 million baht, which if GameStop shares continue to rise. It will cause hedge funds to sell other stocks in the market to raise money to compensate for the speculative losses on GameStop and to cause the stock market volatility.
The GameStop phenomenon has raised concerns for many parties in the United States, including the White House, Congress, and the US Securities and Exchange Commission (SEC). Calls for the New York Stock Exchange (NYSE) to suspend trading of GameStop shares for 30 days to mitigate market volatility.
Investors, meanwhile, watched the earnings release of a number of listed companies this week, including Alphabet, Amazon, Alibaba and Pfizer.
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