China News Service, New York, February 2nd. The three major US stock indexes rose collectively on the 2nd.
The closely watched retail Baotuan concept stocks suffered a severe setback across the board, and GameStop's stock price plummeted 60%.
On that day, the Dow Jones Average Industrial Index closed at 30687.48 points, up 1.57%; the S&P 500 index closed at 3826.31 points, up 1.39%; the Nasdaq Composite Index closed at 13612.78 points, up 1.56%.
Among the 30 Dow stocks, all but 5 stocks including Microsoft, Procter & Gamble and Johnson & Johnson rose.
The retail holding group concept stocks continued the previous day's decline.
The phenomenon-level stock game station began to fall sharply during the pre-market trading stage. After the opening of the market, the circuit breaker was triggered. The stock price fell to 74.22 US dollars and finally closed at 90 US dollars.
Among related concept stocks, AMC Cinemas fell 41.20%, and Goss Electronics fell 42.86%.
CNN said that the “game station mania” of the retail army seems to be ebbing. US stocks continued their previous day’s gains on the 2nd, and hedge funds are now given a respite.
At the end of last month, an army of US retail investors launched an "epic" short-squeeze war against Wall Street hedge funds' short-selling targets. The stock prices of US stocks represented by Game Post have soared, forcing hedge funds to liquidate their short positions.
In this short-squeeze war, the share price of Game Station once rose to 483 US dollars, and then began a sharp correction in the subsequent trading day, so far it has given back more than 81% of the increase.
The Wall Street Journal cited analysis and pointed out that the decline in stock prices of retail stocks is an "inevitable return to reality." Although the share price of Game Station has fallen to $90, compared to the price of less than $20 at the beginning of this year, perhaps it is There is still room for decline.
A few days ago, the U.S. House of Representatives Financial Services Committee announced that it will hold an online hearing on Game Station and other stocks on February 18 to investigate the relationship between brokerage platforms and related hedge funds.
Last week, due to the frenzied shorting of US stocks by retail investors, many online brokerages and trading platforms, including Robinhood, announced that they would impose trading restrictions on stocks targeted by retail investors. This measure caused widespread doubt that it deprived retail investors of their rights.
According to the US Consumer News and Business Channel (CNBC), Hollywood currently has at least two teams planning to make the game station incident into a movie.
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