Shares of General Motors (NYSE: GM) were trading lower on Wednesday. There was no bad news -- in fact, there was some modest good news. But it's possible that GM and other stocks are being hurt as funds sell long positions to cover short positions in surging "meme stocks" like GameStop .
As of 11:15 a.m. EST, GM's shares were down 5.7% from Tuesday's closing price.
It has been hard to miss the recent surges in stocks like GameStop and AMC Entertainment Holdings that seem to be fueled by investors organizing on Reddit's r/WallStreetBets message board.
For further details see:
Is Reddit's Raid Why General Motors' Stock Is Down Today?