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The Fiji Times » 'Reddit rally' stocks bounce on day after selloff, then dip after hours


Reuters Reuters
5 February, 2021, 5:44 am
This issue is global. European regulators are monitoring the risk that a surge in retail investors and online brokers could create bubbles inflated by social media, France’s AMF markets watchdog said. Picture: REUTERS.
(Reuters) – GameStop and other social media darlings rebounded in calmer trading on Wednesday from their sharp sell-off in the prior session as investors turned their focus to the possibility of tighter U.S. trading regulations.
However, the so-called “Reddit rally” cooled again in after hours trade, as GameStop and AMC Entertainment, the main targets hyped on investment forums, fell.
Mass buying over the past two weeks by amateur traders following posts on social media fueled a fierce rally in companies that big hedge funds had bet against, including videogame retailer GameStop and cinema operator AMC. ....

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'Reddit rally' stocks bounce a day after sharp selloff


5 Min Read
(Reuters) - GameStop and other social media darlings rebounded in calmer trading on Wednesday from their sharp sell-off in the prior session as investors turned their focus to the possibility of tighter U.S. trading regulations.
However, the so-called “Reddit rally” cooled again in after hours trade, as GameStop and AMC Entertainment, the main targets hyped on investment forums, fell.
Mass buying over the past two weeks by amateur traders following posts on social media fueled a fierce rally in companies that big hedge funds had bet against, including videogame retailer GameStop and cinema operator AMC.
GameStop had soared as high as $483 last week, fueled by posts on the Reddit forum WallStreetBets, then dived and on Tuesday fell briefly below $90. ....

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