Fox43: Did hedge funds boost the GameStop Rally?
Peter Ricchiuti, senior professor of practice and research director of Burkenroad Reports, was interviewed by WPMT Fox43 in York, Pennsylvania, for a story about the GameStop stock rally. Many outlets reported that small retail investors on Reddit’s WallStreetBets forum came together to fuel the stock’s rise, but Ricchiuti said analysis shows that large institutional investors played a significant role as well.
“So instead of the Reddit crowd pushing as a short squeeze, it was actually hedge funds coming in and wanting the same thing,” Peter Ricchiuti explained.
To read the story in its entirety, visit fox43.com: