GameStop up another 60%, amateur interest shows no sign of abating

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GameStop up another 60%, amateur interest shows no sign of abating

Reuters2021-01-27

LONDON, Jan 27 (Reuters) - GameStop shares surged another 60% on Wednesday in pre-market trading, boosted by increased interest among amateur investors who have lifted the share price by 700% over the past two weeks.

But some hedge funds have refused to budge from their bearish bets, with FIS' Analytics data showing investors had piled on $2.2 billion in bearish bets on the U.S. video game retailer -- a whopping 20% of its market capitalisation,

In the meantime, Reddit's Wallstreetbets stock trading discussion group were backing the company, buying shares and call options on the stock.

A similar euphoria has boosted BlackBerry and Nokia

Meanwhile in Europe, shares of Evotec and Varta

jumped on a chatter that Melvin Capital Management was being forced to unwind its short positions to cover losses on its other bearish bets, including GameStop.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment（64）

kwwsamuel
·2021-01-29
Cool
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pLandon
·2021-01-28
Buy. HODL.
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hoyeah
·2021-01-28
Leggo
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roge857
·2021-01-28
Stop mooning plss
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Soontonghuat
·2021-01-28
EM[捂臉] [捂臉]
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1
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- 0680huat:
  kkkkkkk
  2021-05-30
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- 0680huat:
  ok
  2021-05-30
  Reply
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- Siewleerocks:
  ok
  2021-04-21
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Euphy
·2021-01-28
LETS GO BOISSSS
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CrissX
·2021-01-28
Great to see everyone working together!
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2
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- CrissX:
  Awesome
  2021-01-28
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CrissX
·2021-01-28
Non stop mooning
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1
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- sqwee:
  explosive
  2021-01-28
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linnhtoo
·2021-01-28
hmm
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LeonardKSW
·2021-01-28
Thanks for the info
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车厘子tomato
·2021-01-28
missed this
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OnFire
·2021-01-28
Such collective power.
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1
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Mattong
·2021-01-28
Wow!!
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jazlynnsee
·2021-01-28
moon
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1
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dessyag
·2021-01-28
ok
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AaronHo
·2021-01-28
Wow. This is insane!
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Amberton
·2021-01-28
We can’t stop
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- JL88:
  we shouldn't!
  2021-01-28
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nevkoh27
·2021-01-28
cool!
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1
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therealp
·2021-01-28
TO THE MOOON
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2
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- JL88:
  [得意]
  2021-01-28
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- nevkoh27:
  [财迷]
  2021-01-28
  Reply
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- 社区成长助手:
  终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引
  2021-01-28
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nevkoh27
·2021-01-28
interesting
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2
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- 社区成长助手:
  终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引
  2021-01-28
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- therealp:
  very!!
  2021-01-28
  Reply
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