The Truth About the GameStop Short Squeeze
Each of the three major indexes dropped by the most since October on Wednesday amid a batch of tepid earnings results, but GameStop is the big story on Wall Street this week. GameStop is a failing company with no fundamental reason to see its stock doubling every day. The stock is up more than 1,822% intraday since Jan. 4. It was trading at $341 at midday yesterday.
Dozens of circuit breaker halts were triggered in early trading on Wednesday as volatility hit several stocks