Losing its shine: Customers enter a GameStop store in San Rafael, California. Monthly average trading volumes of GameStop shares have dropped since July to their lowest levels for more than a year. — AFP
JOSE Castillo pulled his US$60,000 (RM251,907) worth of GameStop Corp shares from his brokerage last summer, even though he had no intention of selling them.
The 26-year-old information technology worker, who lives in the greater Minneapolis area, is among a growing number of investors in “meme” stocks – shares such as GameStop popular with day traders – who are withdrawing them from brokerages out of concern the shares will be lent to hedge funds engaging in short-selling.
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