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Stimulus checks unlikely to spur another GameStop mania, says BofA

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Gabriela Bhaskar | Bloomberg | Getty Images

The $1,400 stimulus checks are hitting Americans’ bank accounts, but Bank of America doesn’t expect the fiscal aid to spur speculative trading in GameStop’s stock.

Since the GameStop trading mania that took place in January, the Wall Street firm’s predictive analytics team has been monitoring non-fundamental factors in in the gaming retailer’s stock.

Bank of America screened the number of conversations on Reddit relating to GameStop trading volumes and short interest, which are closely correlated with trading increases in the retailer’s shares.

More recently, the bank started monitoring Reddit discussions regarding the stimulus checks. The firm…



Source cnbc.com

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