GameStop phenomenon spreads to Malaysian glove stocks | The Malaysian Insight

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GameStop phenomenon spreads to Malaysian glove stocks

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.

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