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Indian investors join GameStop frenzy
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Indian investors join GameStop frenzy
Aseem Gujar & Partha Sinha / TNN / Updated: Jan 29, 2021, 12:00 IST
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MUMBAI: A group of American retail investors and day traders on Reddit, who revolted against Wall Street hedge funds by pushing up the over shorted stock of video game retailer GameStop by 3,000% since October, has caught the imagination of Indian investors.
‘DalalStreetBets’ and ‘IndianStreetBets’, clones of the Reddit thread WallStreetBets, which is credited for the over 1,800% rally in this month itself in GameStop, have become active on the same open discussion platform. Its members now talking about orchestrating a similar rally in Indian stocks. Market veterans, however, said that given current Sebi rules, such a situation is unlikely to happen in India. They, however, hailed the Reddit investors for planning this ‘coup’.
Source: Winvesta, Yahoo Finance. Returns are in USD. While the decade-long bull run in the US has been a big pull for Indian investors, there are other factors, too, which make such investments attractive. “The declining value of the rupee and rising dollar value have also pushed more Indians to put their money into US markets,” Vinay Bharathwaj, Co-Founder & Co-CEO, Stockal Inc told Business Insider, adding that, “the US market gives stable and even generous returns at lower volatility over the long term.”
How to invest in US stocks
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Indians can start investing in the US stock market by opening an overseas account with an Indian brokerage, open an account with foreign brokerage or invest through Mutual Funds with global equities.