The stock market has had a lot to consider in the new year, and hopes for 2021 are vying against concerns that things might not live up to the perfect scenarios many optimistic investors seem to have in mind. As of 11:15 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 14 points to 31,055. However, the S&P 500 (SNPINDEX: ^GSPC) rose six points to 3,808, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 62 points to 13,135.
The biggest gainer early on Wednesday morning was GameStop (NYSE: GME). Meanwhile, electric vehicle stocks continued to capture a lot of attention from Wall Street, and a surprise announcement from seemingly unrelated WiMi Hologram Cloud (NASDAQ: WIMI) had investors excited about its future.
Shares of GameStop soared more than 50%. The move higher appeared to come from a possible short squeeze following an announcement from the video game retailer earlier in the week.