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Week in Perspective January 29, 2021: Market Retreat as Short-Sellers get Squeezed Thumbnail

Week in Perspective January 29, 2021: Market Retreat as Short-Sellers get Squeezed

To begin, GameStop (GME) entered the week at $65 per share and peaked at $483 per share later in the week, as it becomes the poster child for the short-squeeze mania/rebellion against short sellers. Things got so wild that brokerage firms restricted trading activity on heavily-shorted stocks like GME, which sent these stocks lower and drew the ire of many market participants.

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Week In Perspective November 13: Pfizer-BioNTech Vaccine News Spurs Big Gains  Thumbnail

Week In Perspective November 13: Pfizer-BioNTech Vaccine News Spurs Big Gains

The Dow Jones Industrial Average rose 4.1%. The Nasdaq Composite, however, declined 0.6% amid relative weakness in the mega-cap/growth/stay-at-home stocks. Briefly, the market remained hopeful that a vaccine will help the economy return to pre-pandemic levels in 2021 and re-instill a sense of normalcy. In addition, Joe Biden being projected as the winner of the presidential election washed out some political uncertainty, although there will be two election runoffs in Georgia on Jan. 5 that will determine if Republicans retain their majority in the Senate.

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