Federated Hermes CIO Stephen Auth says the GameStop big squeeze is not the ‘first time we’ve seen a get rich scheme’ and there is still a ‘buying opportunity’ in the broader market.
Robinhood is expected to resume trading in stocks including GameStop and AMC Entertainment, as well as Bed Bath & Beyond and BlackBerry, on Friday after pausing action due to heavy volume Thursday.
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The share prices spiked this week and sold off as retail investors, spurred by the online Reddit forum WallStreetBets, piled into the stocks. The volatility continued as platforms like Robinhood and Interactive Brokers limited trading on certain stocks Thursday.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||13.40||+4.72||+54.38%|
Robinhood defended its decision by saying “we continuously monitor the markets and make changes where necessary.” The Securities and Exchange Commission said Tuesday it is monitoring the volatility. Members of Congress are also promising hearings.
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