Shares of GameStop and other companies tumbled in extended trading after Wallstreetbets, a discussion forum popular with retail traders on the Reddit website, briefly turned invitation-only. Massachusetts state regulator William Galvin called on NYSE to suspend GameStop for 30 days to allow a cooling-off period. GAME ONThe war began when famed short seller Andrew Left of Citron Capital bet against GameStop and was met with a barrage of retail traders betting the other way. Melvin Capital Management closed out its short position in GameStop on Tuesday after taking a huge loss. Long dismissed as "dumb money," retail traders have made stocks move in ways that defy fundamental analysis.

Source: bd News24 January 28, 2021 02:48 UTC