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While retail investors inflated the GameStop bubble, big players were buying up tech stocks

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GameStop skyrockets as retail investors force short squeeze Description video: The Reddit group WallStreetBets, which is behind the massive run in GameStop, has now gone private. Leslie Picker joins Shep Smith to explain how and why GameStop stock surged in […]

GameStop skyrockets as retail investors force short squeeze

Description video:
The Reddit group WallStreetBets, which is behind the massive run in GameStop, has now gone private. Leslie Picker joins Shep Smith to explain how and why GameStop stock surged in the past couple of months. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi \n\n» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic\n\nTurn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.\n\nThe News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast \n \nConnect with CNBC News Online\nGet the latest news: http://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: https://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: https://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBC\n\nhttps://www.cnbc.com/select/best-credit-cards/ \n\n#CNBC\n#CNBCTV

While retail investors inflated the GameStop bubble, big players were buying up tech stocks

Big investors poured a record $ 4.2 billion into big tech stocks last week, BofA data released Friday showed. Professional market participants took advantage of the slight pullback on Wall Street, while retail traders were busy buying stocks of memes like GameStop..

Last month, an army of retail investors clashed with Wall Street professionals by buying up stocks in which hedge funds have plummeted. During the struggle, some funds had to sell their long positions to cover losses, which led to a wider fall in share prices.

«Over the past two weeks, customer sentiment has been unambiguously expressed in purchases amid poor performance in FAANMG (Facebook, Amazon, Apple, Netflix, Microsoft, and Alphabet, which owns Google)», – said Michael Hartnett, Chief Investment Strategist BofA.

Big Tech companies have become one of the main beneficiaries of the pandemic, as their revenues have increased simultaneously with the introduction of lockdowns, in parallel, they have grown in interest from investors who took advantage of the cheap money available..

Meanwhile, a sudden surge in stock market volatility last week also sent investors fleeing in bonds that raised $ 21.2 billion, the largest in four months. This week, however, concerns have eased as major Wall Street indices hit record highs..

Far from the noise of Wall Street, emerging market equities have been a favorite with investors as they put in $ 5.7 billion in the week from Wednesday to Wednesday. This sector has experienced 19 of the last 20 weeks.

The fever among retail investors also saw silver prices jump above $ 30 an ounce for the first time since 2013 before prices fell. The precious metal raised a record $ 2.8 billion in the week before Wednesday, according to BofA.

While retail investors inflated the GameStop bubble, big players were buying up tech stocks