Inspired by the GameStop phenomenon, Malaysian retail investors are propping up stocks of local glove companies after they've been targeted by short-sellers. – The Malaysian Insight file pic, January 29, 2021.
MALAYSIAN retail investors joined forces on social media and pushed up stocks of under-pressure rubber glove makers today, taking inspiration from the recent GameStop trading phenomenon in the US. Shares of the US video game shop chain surged from less than US$20 to a peak of US$492 earlier this week, after millions of amateur investors active on online forum Reddit rallied together to punish short sellers by sending prices soaring.
Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!