Korean stock market's volatility to increase for time being
By Anna J. Park
The GameStop saga is ongoing as a group of retail investors and short-selling hedge funds are battling over the off-line game retailer's stock prices. The struggling video game retailer's stock price soared by a whopping 1,625 percent in just a month, since the stock was traded at $18.84 on Dec. 31. The price finished at $325 a share on Jan. 29.
Amid the soaring prices, Citron Research founder Andrew Left said in an online announcement late last week ― after covering its short positions against the game retailer's stocks at a 100 percent loss ― that it will discontinue short-selling research and will focus on finding long-term market opportunities, acknowledging that "where we started Citron was supposed to be against the establishment. We've actually become the establishment."