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    Home » Crypto News » Stock Market Bubble Searches Peak as GameStop (GME) Share Price Surges 600% in Days

    Stock Market Bubble Searches Peak as GameStop (GME) Share Price Surges 600% in Days

    Author: George Georgiev

    Last Updated Jan 27, 2021 @ 11:31

    The stock market bubble surges have reached an all-time high as the GameStop frenzy continues with full force as price soars in pre-market hours.

    2020 turned out to be one of the S&P’s best performing years despite the pandemic. It seems the overall bullish trend in the past year is luring more investors and traders to the stock market. Data shows that searches for “stock market bubble” are peaking as the most recent frenzy with GameStop stock rages on.

    Stock Market 2020 Recap: A Few Words

    The raging pandemic saw millions of people losing their lives and jobs. These should have been more than enough to trigger a looming bear market, but in what appeared to be a twist of fate, the stock market continued to thrive.

    This is how the S&P 500’s chart looks like:

    S&P 500
    S&P 500 Chart. Source: TradingView

    The effect of the pandemic was evident in other financial markets, as federal reserves were forced to print more fiat for COVID-19 relief programs. The United States printed almost 20% of existing USD during the peak period of the pandemic. This raised concerns of inflation, causing traders and investors to favor bitcoin and other inflation-resistant assets.

    It’s not just the S&P 500 that’s booming. Other major indices are also seeing tremendous growths, as well as public companies such as Tesla having their stocks skyrocket.

    2021 So Far Keeps Trend Intact

    This year, up until now, doesn’t seem any different. Major indices continue to print new highs as different stocks keep on surging. However, this has also sparked concerns of bubbly market conditions.

    Data from Google Trends shows an exponential increase in stock market search results. The keyword “stock market bubble” appears to have risen to its highest point in the past five years.

    stockmarketbubble_searches
    Stock Market Bubble Searches on Google Trends.

    Existing investors and new market entrants have their eyes firmly set on the tech scene as a result of last year’s increase. With giants like Facebook, Apple and Microsoft set to release their quarterly earnings this week, it is already looking like another field-year for tech stocks. According to Wedbush analyst, Dan Ives, the biggest challenge for investors remains to discover the tech niche that will perform well.

    “The big question and debate among investors is around which tech secular themes will continue to play out in the field over the coming year. In our opinion, despite the historic run we have seen in tech stocks over the past year, there is significant room to run higher as the transformational growth stories in cloud, cyber security, and 5G are just starting to play out in the field.” Ives wrote in a note.

    But that’s not all.

    GameStop (GME) Frenzy Takes Stock Soaring

    As CryptoPotato reported earlier today, GameStop (GME) stock has been surging as a result of retail-oriented investors taking bets against Wall Street short positions. The case of GME has gone viral, with major accounts talking about it. At the time of this writing, GME stock is trading at $294 during pre-market hours. On January 21st, the stock cost $43. This marks an increase of about 600% in a few days.

    Elon Musk also made sure to reflect this.

    Gamestonk!! https://t.co/RZtkDzAewJ

    — Elon Musk (@elonmusk) January 26, 2021

    The entire cryptocurrency community seems to have its sights set on the stock, and major accounts are commenting on the frenzy. The popular exchange FTX even had it listed on its platform.

    It appears that the saga might come to an end, though, as Meliv Capital closed out of its position according to CNBC.

    BREAKING: Melvin Capital closes out of its GameStop position $GME@andrewrsorkin reports: pic.twitter.com/5dx65M7zIP

    — Squawk Box (@SquawkCNBC) January 27, 2021

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    Tags: S&P 500 United States
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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