Wall St rallies as retail investor revolt reined in

Fri, 29 Jan 2021

Stock markets returned to ‘business as usual’ as trading restrictions by micro-investment platforms brought the retail investor revolt to an end, taking the heat off hedge funds caught with unwieldy positions.That bodes well for the local S&P/NZX 50 Index. It shed 2.2 percent yesterday in the global rout as retail investors using the likes of Robinhood shored up prices of companies such as video game retailer GameStop, forcing some US hedge funds to cover loss-making short positions.Short-selling — where an investor borrow...

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