GameStop

by | Feb 24, 2021

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The game has stopped but that doesn’t mean it’s over. I’m Brian Banmiller on Business.

In case you missed it a band of small-pocket investors recently boosted GameStop stock one thousand percent in two weeks. While things have returned to normal how they did it can happen again. In fact, we saw an example just recently. Stocks of several pot producers started to grow with one from a medical marijuana grower doubling in three days. Some of the surge was based on real news but the GameStop impact was felt. One user posted on wall street bets that it was time to get on the cannabis bandwagon. People took the advice. Experts say it’s not just about sending a message to hedge funds. Instead, it’s more about the thrill of making bold trades that could go either way and you get to share victories and defeats with your online community. Now Washington is getting involved and holding hearings on this practice. But capitol hill might not have many options. Restricting smaller investors will anger them and targeting short-sellers could disrupt the market. This game could end in a tie. Brian Banmiller, CBS news.

Brian Banmiller

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.

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