{"id":105624,"date":"2021-01-27T19:18:23","date_gmt":"2021-01-27T19:18:23","guid":{"rendered":"https:\/\/fin2me.com\/?p=105624"},"modified":"2021-01-27T19:18:23","modified_gmt":"2021-01-27T19:18:23","slug":"yellen-monitoring-gamestop-market-activity-white-house-says","status":"publish","type":"post","link":"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/","title":{"rendered":"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says"},"content":{"rendered":"

U.S. Treasury Secretary Janet Yellen and the Biden administration\u2019s economic team are watching stock market activity<\/span> around GameStop Corp. and other heavily shorted companies, White House Press Secretary Jen Psaki said.<\/p>\n

\u201cOur team is of course — our economic team including Secretary Yellen and others — are monitoring the situation,\u201d Psaki told reporters at the White House on Wednesday. She called the unusual trades in the video-game retailer \u201ca good reminder, though, that the stock market isn\u2019t the only measure of the health of our economy.\u201d<\/p>\n

A Treasury Department spokesperson declined to comment. <\/p>\n

A retail-investor frenzy over the company has caused GameStop\u2019s shares to soar in recent weeks, squeezing hedge funds with large short positions in the company.<\/p>\n

Shares in the video-game retailer more than doubled as of 1 p.m. in New York, triggering at least two volatility halts as it at one notched its biggest-ever intraday advance. GameStop has surged eightfold in the past week, adding almost $20 billion to its market value.<\/p>\n

Read More: GameStop Rally Hits New Extremes as Short Sellers Surrender<\/p>\n

GameStop\u2019s meteoric rise has captivated Wall Street, as an army of small traders spurred on by Reddit message board posts have pushed the company\u2019s stock price to unheard-of levels. Shares in the company began the year at just $19. Hedge funds who held short positions in GameStop, such as Melvin Capital, have closed out of them as the rally continued, suffering billions of dollars in losses.<\/p>\n

While some commentators have cast the frenzy as a populist uprising against Wall Street institutions, others see a dangerous play that could eventually leave investors exposed to major losses. Some wondered if it was the result of purposeful market manipulation.<\/p>\n

Earlier: Michael Burry Calls GameStop Rally \u2018Unnatural, Insane\u2019 <\/p>\n

Investor Michael Burry, who previously championed GameStop in 2019, called the current phenomenon \u201cunnatural, insane, and dangerous.\u201d<\/p>\n

\u201cWhat is going on now \u2013 there should be legal and regulatory repercussions,\u201d tweeted Burry, who made his name for his bet against mortgage-backed securities before the 2008 financial crisis.<\/p>\n

Burry\u2019s tweet tagged the Securities and Exchange Commission\u2019s Division of Enforcement.<\/p>\n

\u2014 With assistance by Christopher Condon, and Scott Lanman<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. Treasury Secretary Janet Yellen and the Biden administration\u2019s economic team are watching stock market activity around GameStop Corp. and other heavily shorted companies, White […]<\/p>\n","protected":false},"author":3,"featured_media":105623,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"\nYellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says - Fin2me\" \/>\n<meta property=\"og:description\" content=\"U.S. Treasury Secretary Janet Yellen and the Biden administration\u2019s economic team are watching stock market activity around GameStop Corp. and other heavily shorted companies, White [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-27T19:18:23+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/01\/cfntalkfoto1200x800790-3.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/\",\"url\":\"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/\",\"name\":\"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-01-27T19:18:23+00:00\",\"dateModified\":\"2021-01-27T19:18:23+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Politics\",\"item\":\"https:\/\/fin2me.com\/category\/politics\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/","og_locale":"en_US","og_type":"article","og_title":"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says - Fin2me","og_description":"U.S. Treasury Secretary Janet Yellen and the Biden administration\u2019s economic team are watching stock market activity around GameStop Corp. and other heavily shorted companies, White [...]","og_url":"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/","og_site_name":"Fin2me","article_published_time":"2021-01-27T19:18:23+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/01\/cfntalkfoto1200x800790-3.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/","url":"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/","name":"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-01-27T19:18:23+00:00","dateModified":"2021-01-27T19:18:23+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/politics\/yellen-monitoring-gamestop-market-activity-white-house-says\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Politics","item":"https:\/\/fin2me.com\/category\/politics\/"},{"@type":"ListItem","position":3,"name":"Yellen \u2018Monitoring\u2019 GameStop Market Activity, White House Says"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/105624"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=105624"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/105624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/105623"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=105624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=105624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=105624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}