By Reuters Staff
1/THE BIG SQUEEZE
FILE PHOTO: Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, NY, U.S., April 30, 2018. REUTERS/Brendan Mcdermid/File Photo
In just a week, the ‘Reddit crowd’ trade which squeezed out seasoned hedge funds from GameStop has gone global.
Herding on the other side of bearish bets proved so profitable in GameStop and other shorted American stocks that it didn’t take long for copycats to emerge across the globe.
On Jan. 26, a seemingly random buying frenzy lifted a handful of stocks across Europe. Soon enough, traders spotted what UK publisher Pearson, German drugmaker Evotec and property firm Unibail-Rodamco had in common: they were among Europe’s most shorted stocks.
A multitude of protrusions of different heights are arranged on the outsole of Asics Corp.’s spikeless track shoe (Provided by Asics Corp.)
Top Japanese sprinter Yoshihide Kiryu scoffed when he first saw Asics Corp. s spikeless track shoes, featuring a honeycombed carbon fiber outer sole, eschewing metal spikes.
“Did you really say you can run in these shoes?” said Kiryu, the first Japanese to run the 100 meters in under 10 seconds, when he first saw a prototype of the Metasprint in 2018.
But Kiryu speedily became a convert to the new technology.
He was wearing the Metasprint when he clocked a time of 10.16 seconds in the 100-meter semifinal during the World Athletics Championships in Doha, Qatar, in September last year.