Amateur investors from r / wallstreetbets Reddit site which was the mainstay of the GameStop (GME) stock spike that led to the loss of institutional investors last month finally suffered the misfortune when their bets crashed.
Most of the stocks pumped by the group, involving GME, AMC and Nokia (NOK) were closed gloomily, in the red zone.
GME, for example, which saw a near 2000% share jump on January 27, dropped 50% in 24 hours, nearly 83% over the three days from a high of $ 483 to $ 90.
AMC also recorded a loss of 63% since its record high five days ago and 20% in 24 hours. Currently, the AMC stock price is trading at $ 7.82.
According to United States (US) millionaire Mark Cuban explained the decline may be due to increasingly paralyzed demand following restrictions on the purchase of such shares in Robinhood.
"When there is no share purchase, it means that the price has to be reduced in order to get potential buyers," he said, indicating he would side with Wall Street after the ban came into effect.
However, in contrast to the crypto currency market this morning, it is seen to bring good news to investors with each recording a positive movement.
Starting with Bitcoin (BTC) increased over 9% with the price trading at $ 35,830. And Ethereum (ETH) last night managed to surpass the record all time high (ATH) on January 25 to $ 1,547 before slightly declining to $ 1,521 at the time of writing.
Polkadot (DOT) traded at $ 17.04, followed by XRP trading at $ 0.39, LTC ($ 149) and DOGE ($ 0.03)
