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Glove stocks rise as GameStop mania hits KL bourse

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Inspired by the US phenomenon, Malaysian retail investors set up a group called BursaBets to push up share prices. FMTNews Stocks

Shares of glove makers rose on the stock exchange after small investors formed a group to push up prices.

The share price of Top Glove, the world’s largest glove maker, rose over 8%, while rival companies also notched up strong gains: Hartalega put on over 5% and Supermax was up 3.6%. Glove makers had enjoyed a huge rise in their share prices last year because of strong demand arising from the Covid-19 pandemic.

 

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GameStop phenomenon spreads to Malaysian glove stocks | The Malaysian InsightRetail investors are propping up gloves stocks that are being targeted by short-sellers.
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