Can GameStop type forum in India influence retail investors’ behaviour?
Regulators in India should take note of the GameStop saga and keep a strict vigil on social media to avoid something like this happening in Indian markets.
Source: Reuters
Atish Matlawala
What has happened in GameStop is something really amazing and has never happened before. Reddit’s WallStreetBets forum which is a group of 3 million day traders gathered and conspired to take long positions in GameSpot which made hedge funds to square off their short positions.
To put things in perspective, short-sellers in GameStop lost $ 5 billion in mark-to-market losses in the month of January, and on Tuesday alone they made a loss of $867 million as the stock rallied 95 percent in one single session.
LONDON (dpa-AFX) - Paragon Banking Group PLC (PAG.L) said the Group's trading performance has been in line with the Board's expectations for the first quarter of fiscal year. The Board's expectations
The government’s focus in the upcoming Budget is likely to be on providing acceleration to the economic recovery which has been underway over the past few months, says Bhobe.
The easy answer as to why trading was halted relates to the stock's 'volatility' after its dramatic climb in recent weeks. But it could also mean something fishy is going on.