The past few weeks have witnessed some incredible market action, much of it driven by a new crop of retail investors attempting to push back on the institutional investment community by piling into a number of highly shorted stocks. This, in turn, has forced investors who had shorted these names to cover their positions, lifting prices in many cases to hard-to-justify levels. GameStop Corp., for example, is still primarily a declining brick-and-mortar retailer in an electronic world.
We do not believe recent developments are a sign of an overall unhealthy market or a broader bubble. History is filled with examples of investors causing surges or collapses in the prices of small groups of stocks or bonds, which have signified little about the state of markets generally.
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Your Market News update for May 30, 2019 | View online Market News News that's moving the market now As Trade-War Worries Linger, Market Seems to Lack Buying Conviction May 30, 2019 8:40 AM | JJ Kinahan 6 min read | Daily Market Update