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Sources tell FOX Business Charlie Gasparino that hedge funds are worried that Congress may force laws restricting trading practices, including short selling.
Behind GameStop s stock surge is the grim reality of its prospects: The video game retailer is floundering even as the industry around it is booming.
GameStop has been swept up in a battle between big-moneyed hedge funds betting against it and small investors trying to prop it up. That has caused GameStop s share price to soar despite the shaky financials underneath.
Flailing companies like AMC Entertainment and American Airlines have likewise enjoyed a stock surge, but GameStop has been the primary battleground between the Davids and the Goliaths. Shares rocketed 1,600% in the last three weeks, closing at $325 per share on Friday and giving GameStop a market cap of nearly $17 billion. Shares have since cratered. On Tuesday, they fell 60% to close at $90.