GameStop hyped up social media effect spreads
Several Australian and other US companies are caught in the battle between small-time traders and hedge funds
28 January 2021 - 16:41
Bengaluru — An almost 60% surge in shares of American Airlines led stellar gains for a series of social media hyped stocks on Thursday, broadening a battle between small-time traders and major Wall Street institutions that has shaken US and European stock markets.
The battle also moved into Asia, with surges in several Australian companies. Heavily shorted Australian shares, including Webjet and Tassal Group, climbed more than 5% even as Sydney’s benchmark ASX 200 index fell 2%...
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