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.
GameStop rally reignites as retail traders step back in
Bailey Lipschultz, Elena Popina and Sarah Ponczek, Bloomberg News
Reddit-driven investing likely the beginning of a permanent trend: Aventine s James Telfser VIDEO SIGN OUT
GameStop Corp. advanced on Friday and was on track to recoup much of Thursdayâs US$11 billion blow after Robinhood Markets Inc. and other brokerages eased trading restrictions on the video-game retailer.
The shares at the center of the retail craze thatâs gripped Wall Street and drawn scrutiny from Washington, rose 67 per cent to US$330 at 12:50 p.m, after earlier climbing as much as 114 per cent. in New York. The stock plunged a record 44 per cent on Thursday. Shares in other day-trader favorites also rebounded.
GameStop rally reignites as retail traders step back in
Bailey Lipschultz, Elena Popina and Sarah Ponczek, Bloomberg News
Reddit-driven investing likely the beginning of a permanent trend: Aventine s James Telfser VIDEO SIGN OUT
GameStop Corp. advanced on Friday and was on track to recoup much of Thursdayâs US$11 billion blow after Robinhood Markets Inc. and other brokerages eased trading restrictions on the video-game retailer.
The shares at the center of the retail craze thatâs gripped Wall Street and drawn scrutiny from Washington, rose 67 per cent to US$330 at 12:50 p.m, after earlier climbing as much as 114 per cent. in New York. The stock plunged a record 44 per cent on Thursday. Shares in other day-trader favorites also rebounded.
GameStop Rally Reignites as Retail Traders Step Back In
Bloomberg 1/29/2021 Bailey Lipschultz
(Bloomberg) GameStop Corp. dipped in extended trading after rising nearly 70% on Friday, wrapping up a week of wild swings as retail investors returned to the stock after trading restrictions on the company were lifted.
The shares at the center of the retail craze that’s gripped Wall Street and drawn scrutiny from Washington, rallied after Robinhood Markets’ decision to lift some curbs that prevented investors on Thursday from buying the stocks that had been going straight up for days.
GameStop closed the session at $325, wrapping up a 400% price surge in the week. The company’s value quintupled since last Friday despite Thursday’s plunge, which wiped out $11 billion in market cap. Shares in other day-trader favorites snapped back from record losses as well.
GameStop Rally Reignites as Retail Traders Step Back In
Bloomberg 1/29/2021 Bailey Lipschultz
(Bloomberg) GameStop Corp. dipped in extended trading after rising nearly 70% on Friday, wrapping up a week of wild swings as retail investors returned to the stock after trading restrictions on the company were lifted.
The shares at the center of the retail craze that’s gripped Wall Street and drawn scrutiny from Washington, rallied after Robinhood Markets’ decision to lift some curbs that prevented investors on Thursday from buying the stocks that had been going straight up for days.
GameStop closed the session at $325, wrapping up a 400% price surge in the week. The company’s value quintupled since last Friday despite Thursday’s plunge, which wiped out $11 billion in market cap. Shares in other day-trader favorites snapped back from record losses as well.