Time to shine? Crypto should be given a chance after GameStop drama
Cointelegraph
Published Feb 06, 2021 08:31AM ET
Updated Feb 06, 2021 10:20AM ET
What happened to GameStop’s stock at the end of January will be remembered by investors for years to come, as it was probably the first time in the history of the “free market” that a group of self-described internet “degenerates” outsmarted a bunch of Wall Street pros at their own game.
As a recap, on Jan 27, when the Dow Jones Industrial Average fell sharply by over 2% — in large part due to the United States Federal Reserve announcing its move to maintain interest rates around the zero percent mark — shares of video game retailer GameStop (NYSE:GME) and movie theater chain AMC Entertainment (NYSE:AMC) proceeded to rise by 130% and 300%, respectively, taking their market capitalizations to $24 billion and $6.74 billion.
h3 GME situation may serve as a game changer for crypto/h3 h3 Google (NASDAQ:GOOGL) and Apple (NASDAQ:AAPL) come to rescue/h3 h3 Is DeFi the way out of the confrontation?/h3 h3 Gamestop debacle has helped put crypto in a good spot/h3Continue Reading on Coin Telegraph
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Written By: Cointelegraph
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