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Reddit users push up glove stocks | The Malaysian Insight

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Reddit users push up glove stocks

BursaBets’ founder says the current price of glove stocks is undervalued and wants the market to realise that the companies deserve better. – EPA pic, January 30, 2021.

MALAYSIAN retail investors joined forces on social media and pushed up stocks of under-pressure rubber glove makers yesterday, 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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