White House monitoring situation involving GameStop, other firms

Reuters2021-01-28

WASHINGTON, Jan 27 (Reuters) - The White House and Treasury Department are monitoring the situation involving GameStop

and other companies that have seen sharp gains on the stock market, White House Press Secretary Jen Psaki said on Wednesday.

Shares of both GameStop and AMC Entertainment Holdings

more than doubled on Wednesday, forcing hedge funds to take heavy losses and sparking calls for scrutiny of anonymous stock market trading posts on social media.

Psaki said the U.S. stock market was not the only measure of the health of the economy, and President Joe Biden was continuing to press for approval of a $1.9 trillion economy recovery package to aid working- and middle-class families.

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Comments

  • CL777
    2021-01-30
    CL777
    Better be fast! 
  • WeTheSloths
    2021-01-28
    WeTheSloths
    Nah.. Can't stop won't stop 
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