Dave Caruso, Wbz Financial, Analyst discussed on WBZ Afternoon News
A wild ride this week on Wall Street. All the majors fell by about 2% today, the Dow losing 620 points for its worst week since October, WBZ Financial analyst Dave Caruso lets us in on what happened here say it was all about Gamestop said It was in the sense that they had a 23 100% return s O Everybody saying What do I do where we go? How do I participate in this? So all of a sudden? Kind of took this the slate and it wasn't just now, and they were like 13 other companies so people and traders were starting to bid up in the process. They call it so as a result of that we had had two regimes. We have the old timers and you know there was a different generation, and we have kind of a new timers who are now trying to figure out how to buy stock. So all of these things kind of got into force, and now we've got some issues that we have to deal with. And Dave says average investors have to be really careful if you want to get into this kind of trading. Don't talk about Short squeezes. They're no good. Stay away from that and the olden days, And when I was on the desk, they used to call it pumping and dumping. So the reality is we'll come back. And this thing will probably come back as well. Also had great earnings. I might say Apple, their earnings were actually up. You know, I had 100% $100 billion They did pretty well. And the earnings, as I said, did pretty well But ah, lot of all until it E this week in my senses were probably going to come back with A little bit more stability is there are a bunch of errors that took place over this week, but we got through it. And that is Dave Caruso from coastal capital in Danvers. Right, 6 27. This is an age old questions way. We don't have an.