White House 'monitoring' GameStop share surge as US hedge fund pulls out

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Melvin Capital Management had bet on failure of store before small investors sent shares soaring

The White House has said it is “monitoring” the extraordinary surge in the share price of ailing video games retailer GameStop and other companies amid a surge of bets by small investors discussing their investments online.

Wednesday’s announcement by press secretary Jen Psaki came as the Treasury and the Securities and Exchange Commission said they were “aware of and actively monitoring the ongoing market volatility in the options and equities markets”.

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from The Guardian https://ift.tt/3iRRpgK

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