A rotation into sectors such as energy and financials continued, both in small- and large-cap stocks, as investors bet on consumer spending when the U.S. economy reopens and sold the big tech names that have fueled the rally since last March. Trading in GameStop was volatile with the stock at times poised to set the videogame retailer on track for its longest streak of daily gains in six months and extending a rally that has already doubled the company’s market value.
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The major betting companies run cutting-edge shops brimming with touch-screen terminals, with many different screens showing all the sport. Very likely there may be at least one in the nearby city c Investors are shifting funds from tech stocks with lofty valuations to other groups, such as energy and financials, that are undervalued and more of a play on an improving economy in a post-COVID world than big tech is, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
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