Shares of video game retailer GameStop Corp surged nearly 700% over the past week as retail investors piled in to the stock, appearing to be urged on by bullish posts in popular online forum Reddit as opposed to any fundamental changes in the company's finances or prospects. GameStop's interstellar surge has sparked calls for regulatory scrutiny. - reuters
LONDON: A surge of retail stock trading over the last year lit the fuse that sent shares of GameStop Corp rocketing higher without a clear business reason, market watchers say, squeezing hedge funds that had bet against the video game retailer and other companies that were out of favor on Wall Street.
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