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Stimulus Checks Helped Fuel GameStop Stock Surge: Billionaire Gundlach

Business Economy GameStop Investment Jeffrey Gundlach Markets US US News

Stimulus Checks Helped Fuel GameStop Stock Surge: Billionaire Gundlach

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The latest round of stimulus checks led to GameStop stock surging, according to a money manager. “I think wherewithal from governmental stimulus ultimately is really the cause,” Jeffrey Gundlach, a billionaire bond-fund manager, said during an appearance on Fox Business. Congress passed and then-President Donald Trump signed late last year a fresh CCP virus relief package that included $600 checks to most Americans. The checks began being sent out on Dec. 29. GameStop stock began surging last month, spurred by retail investors urging each other to buy on a Reddit subforum. Gundlach asserted the rise was due mainly to the relief package. “In this case, thanks to primarily, I would say, governmental policy, there’s wherewithal among investors, if you want to call them that, or speculators, with government money being sprayed all over the place, with checks to people, that they have the wherewithal to put together into a real …

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