Stock News

AMC shares sink 15% — Here’s why the stock tanked on Wednesday



The blame for Fidelity’s mysterious GameStop oopsie lies with a firm you’d never suspect

Which makes it pretty cringey to see that a growing band of retail Apes spent much of Tuesday morning ignoring the macro bloodbath across indexes and combing through what they thought looked like a fishy discrepancy on Fidelity’s platform, regarding GameStop. For pro-GME Apes who have spent 10 months trying to keep short sellers from getting their hands on GameStop shares — and going so far as to transfer their accounts to Fidelity and even direct-register them to keep them locked away — this was a shockingly high number of available shares, and well more than the 2 million that were available on Monday evening. Reddit low-key exploded with users speculating that the shares they had attempted to DRS were being lent out by Fidelity, or that the brokerage was misleading them in other ways, or that some big hedge fund had covered its short position (which was a tough one to buy considering the stock is now down over 19% in the past five days).

Dow stages wild, 1,000-point swing and stocks see sharpest U-turn lower in over a year as U.S. confirms 1st omicron case

Previous article

Jack Dorsey’s Square changes corporate name to Block

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Stock News