White House refuses to address GameStop controversy

Fox News

By Morgan Phillips | Fox News
Picture Courtesy: Fox News
Picture Courtesy: Fox News

The White House is staying out of the Wall Street chaos unleashed by a Reddit group.

Press secretary Jen Psaki was peppered with questions she refused to answer directly about the market volatility involving a Reddit group called WallStreetBets banded together to squeeze short-sellers out of their positions by buying up stock in video game retailer GameStop and other flailing companies. 

The Reddit group temporarily went private. Trading app Robinhood and online broker Interactive Brokers restricted trading in certain securities because of the recent volatility in a number of stocks, igniting controversy. 

Publish : 2021-01-29 17:09:00

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