CGTN published this video item, entitled “Troubles with GameStop: Winners & Losers” – below is their description.
U.S. Senators Elizabeth Warren and Bernie Sanders are calling for more action against U.S. financial market manipulation. They took their cue from the skyrocketing share prices of GameStop, a video game retailer. Traders, organized over Reddit and other platforms, bought GameStop stocks en masse to punish hedge funds and other wealthy investors who bet its price would fall. Concerns have been growing that wild swings in prices of GameStop and other shares could trigger volatility for the broader stock market. U.S. Treasury Secretary Janet Yellen called a meeting with financial regulators. What’s behind Reddit users’ purchase of shorted stocks? Could the recent online frenzy spark new market regulations?CGTN YouTube Channel