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GameStop vs short-selling hedge funds

Michael McLaren

Roger Montgomery, Founder and Chief Investment Officer of Montgomery Investment Management, joins Michael for his take on ‘GameStop’, the US bricks-and-mortar video retailer, that saw its shares surging to dizzying heights last week as small-time traders took on Wall Street.

 

At the close of trade in New York on Friday, its retail stock was up 68 per cent to $US325, ending the week on a high for GameStop investors.

 

GameStop stock (GME) has risen more than 1,500% for the year driven largely by a group of investors on Reddit, who are buying the stock to hurt short sellers and hedge funds that had bet on the stock to go down.

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Michael McLaren
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