Cantor’s Lutnick Says Market Took a Breath, Is Now ‘Good to Go’
(Bloomberg) -- Cantor Fitzgerald LP Chief Executive Officer Howard Lutnick said that short-sellers learned a lesson from the “infinite risk” offered by their GameStop Corp. positions, but that the volatility of the past week revealed no systemic hazards in the stock market.
“The market took one day to figure it out, and that was pretty impressive,” Lutnick said Monday in a Bloomberg Television interview. “The market sort of took a one-day breath, figured it out and now I think it's good to go.”
Lutnick compared GameStop's skyrocketing shares with the way retail investors have driven up the price of Tesla Inc.'s stock -- albeit over a longer time frame.
Read more: GameStop Short Interest Plunges in Sign Traders Are Covering
“So are there risks? Of course there are risks,” Lutnick said. “But the system has figured it out, and the system is ready to go. People can buy and sell whatever they'd like.”
©2021 Bloomberg L.P.
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