EXPR Stock Price and News: Express Inc. crashes down as brokers restrict retail investor trading
Premium|Take advantage of 50% OFF on your first month.
50% OFF and access to ALL our articles and insights.
You have reached your limit of 5 free articles for this month.
Take advantage of the Special Price just for today!
50% OFF and access to ALL our articles and insights.
Subscribe to Premium- NYSE:EXPR plummeted by 50.79% on Thursday despite a broader market rally.
- Express Inc was halted by brokers around US as there was an attempted crackdown on short squeezes.
- Express is just one company caught in the middle of a turf war between hedge fund managers and r/WallStreetBets.
NYSE:EXPR hit the market on Thursday without the support of r/WallStreetBets as most brokers in the United States halted the trading of the retail stock. Express Inc. proceeded to plummet by 50.79%, giving back nearly all of the gains it had made the day before, and closing back down at $4.70. As brokers loosened the regulations on trading shares, Express rebounded after hours, adding over 30% at the time of writing.
Express Inc is one of a handful of companies with a high percentage of their shares in short positions that r/WallStreetBets have targeted. The resulting short squeeze caused other companies, most notably GameStop (NYSE:GME) to skyrocket several hundred percent in one day, leaving hedge funds and other short sellers no choice but to close out their positions. The halting of trades for these companies has increased the ire from the Reddit subgroup and has even rallied the likes of Elon Musk, Chamath Palihapitiya, and Dave Portnoy to support the group. The ongoing feud between the retail investors and the hedge fund managers has caused a high amount of volatility on the stock market and has raised the interest of social media.
EXPR stock forecast
One of the leading brokers caught in the middle of this is Robinhood, which has become a popular online and mobile-based investing platform. Robinhood has since been hit with a class-action suit regarding its halting of trading of certain stocks, so the legal ramifications of this whole story have yet to unfold. Stay tuned, as Friday should be interesting with most of the bans on trading lifted by the end of the trading session on Thursday.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
- NYSE:EXPR plummeted by 50.79% on Thursday despite a broader market rally.
- Express Inc was halted by brokers around US as there was an attempted crackdown on short squeezes.
- Express is just one company caught in the middle of a turf war between hedge fund managers and r/WallStreetBets.
NYSE:EXPR hit the market on Thursday without the support of r/WallStreetBets as most brokers in the United States halted the trading of the retail stock. Express Inc. proceeded to plummet by 50.79%, giving back nearly all of the gains it had made the day before, and closing back down at $4.70. As brokers loosened the regulations on trading shares, Express rebounded after hours, adding over 30% at the time of writing.
Express Inc is one of a handful of companies with a high percentage of their shares in short positions that r/WallStreetBets have targeted. The resulting short squeeze caused other companies, most notably GameStop (NYSE:GME) to skyrocket several hundred percent in one day, leaving hedge funds and other short sellers no choice but to close out their positions. The halting of trades for these companies has increased the ire from the Reddit subgroup and has even rallied the likes of Elon Musk, Chamath Palihapitiya, and Dave Portnoy to support the group. The ongoing feud between the retail investors and the hedge fund managers has caused a high amount of volatility on the stock market and has raised the interest of social media.
EXPR stock forecast
One of the leading brokers caught in the middle of this is Robinhood, which has become a popular online and mobile-based investing platform. Robinhood has since been hit with a class-action suit regarding its halting of trading of certain stocks, so the legal ramifications of this whole story have yet to unfold. Stay tuned, as Friday should be interesting with most of the bans on trading lifted by the end of the trading session on Thursday.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.