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It's not just GameStop worrying Wall Street about a bubble
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NEW YORK – Now, even the pros on Wall Street are asking if the stock market has shot too high. U.S. stocks have been on a nearly nonstop rip higher since March, up roughly 70% to record heights and causing outsiders to say the market had lost touch with the pandemic's reality.
But Wall Street kept justifying the gains by pointing to massive support from the Federal Reserve, lifesaving deliverance from COVID-19 vaccines and efforts by Congress to pump more stimulus into the economy.
Recently, though, some of the market's action has become tougher to explain, and not just the maniacal moves for GameStop. Some investors are so hungry for huge payoffs that they're pouring into investments without knowing what their dollars will go toward.
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