BursaBets buying spree losing steam

Top Glove Corp Bhd recorded a volume of 161.6 million shares on Jan 29 as retail investors rushed to scoop the shares of the world’s largest glove maker.

PETALING JAYA: A group of Malaysian retail investors bandied together last Friday, trying to replicate the success of fellow investors in the United States to bring Wall Street’s short-sellers to their knees.

Unlike in the United States, where retail investors following the WallStreetBets Reddit forum triggered a buying spree across a variety of stocks, the movement in Malaysia – calling itself BursaBets – targeted listed glove makers.