GameStop shares on the rise again as restrictions lifted
January 29, 2021
Shares in GameStop doubled in price in premarket trading today after restrictions on individual investors were lifted. The retailer’s stock price has been on a wild up and down ride, which started after angry investors on a Reddit group decided to start buying shares in large numbers to inflict financial pain on hedge funds that shorted the stock, in essence betting on its demise. Trading platforms, including Robinhood, halted trading of the company’s stock yesterday, which caused the share price to fall again to the advantage of institutional investors and hedge funds, but chose to reopen it to the public again this morning.
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