Biden Administration Is “Monitoring” Marketwide Short Squeeze
Following the last several sessions of massive short squeezes in numerous stocks, including Gamestop, AMC Entertainment Holdings, BlackBerry Limited, among others, White House Press Secretary Jen Psaki addressed these issues with reporters on Wednesday afternoon.
Psaki said the Biden administration, including Treasury Secretary Janet Yellen, is “monitoring” the situation of stocks going parabolic.
In the last three trading sessions, this basket has more than tripled in value.
She reminded everyone that “the stock market isn’t the only measure of the health of our economy.”
White House @PressSec Jen Psaki says the Biden team is “monitoring” the surge of GameStop shares.
“The stock market isn’t the only measure of the health of our economy,” she said at a press briefing pic.twitter.com/AU7KiRU90B
— Bloomberg Quicktake (@Quicktake) January 27, 2021
So why on earth is the government monitoring markets when retail traders are making hand over fist buying most shorted stocks, while hedge funds are getting crushed in their short positions?
Wed, 01/27/2021 – 14:02
via ZeroHedge News https://ift.tt/3ciqPMS Tyler Durden