GameStop rises another 60%, fan interest shows no signs of abating By Reuters

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© Reuters. FILE PHOTO: Outside a GameStop store, people line up to buy a Sony PS5 game console

LONDON (Reuters) – GameStop (NYSE 🙂 shares rose another 60% on Wednesday in pre-market trading, fueled by heightened interest among hobbyists who have raised the share price by 700% in recent years. two weeks. But some hedge funds have refused to budge on their bearish bets, and FIS analysis data shows that investors had amassed $ 2.2 billion in bear bets on the US video game retailer, a whopping 20%. of its market capitalization. Meanwhile, Reddit’s Wallstreetbets stock trading discussion group was backing the company, buying shares and call options on the shares. A similar euphoria has fueled BlackBerry (NYSE 🙂 and Nokia (NYSE :). Meanwhile, in Europe, Evotec and Varta stocks were launched to talk that Melvin Capital Management was being forced to undo its short positions to cover losses on its other bearish bets, including GameStop.

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