The Reddit-fueled rally that surged the stock price of video game retailer GameStop this week peaked at $492 Thursday afternoon, before beginning to fall rapidly. The rally is now a political controversy, with House Speaker Nancy Pelosi (D-Calif.), Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Patrick J. Toomey (R-Pa.), among others, calling for an investigation of trading platform Robinhood, which stopped allowing traders to purchase the stock. Amazingly, GameStop is now the most traded stock in the world.
Read the full article at https://www.washingtonpost.com/outlook/2021/01/29/gamestop-bubble-is-an-age-old-financial-craze-with-modern-twist/