News- [GAM] “Apart from Game Stop, what will be the target of the’Reddit’ ants?”

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[서울=뉴스핌] Reporter Hyun-young Kim = The stock price of US video game retailer GameStop (GME) surged to record highs every day in the wake of the buying frenzy of individual investors, while the US economic media CNBC could become the next target of the so-called’ant army’. It draws attention by revealing the list of investment items.

In the recent New York Stock Exchange, Gamestop’s stock price is literally riding a roller coaster. Reddit’s stock bulletin board on Reddit, a social media popular with young Americans, has decided to intensively buy Gamestop stocks, where individual investors exchange stock information in real time, with the highest proportion of short selling on Wall Street. The impact was great.

WSB bulletin board members argued that the stock price could be raised only by liquidity even if there is no significant relationship with earnings or fundamentals, and they made intensive purchases using GameStop as an investment target. As Gamestop’s stock price soared to the sky, the short selling force betting on a decline in stock price urgently started buying Gamestop to make up for the loss, and the stock price soared.

In this regard, various investment information media have expressed that ant investors are fighting an unusual war with the short selling forces. CNBC said that the share price has quadrupled over the past two weeks, and the hedge fund that shorted the stock suffered huge losses due to the influence of individual investors encouraging each other and triggering the craze to buy gamestops at the WSB with more than 2 million members. Reported. In the midst of this, Gamestop’s market capitalization was estimated to exceed $10 billion.

On the 25th (local time), GameStop’s stock price rose to an all-time high of $159.18, soaring 145% from the closing price on the weekend, and then quickly plunged into profit-taking sales at a frightening rate, reducing the upside to 18%, and trading at $76.79. Finished.

The stock price, which seemed to have been exhausted for a while, ran towards an all-time high on the 26th and closed at $147.98, up 92.71% from the previous trading day. On that day, when billionaire investor Chamas Palahapitiya, CEO of Social Capital, posted a tweet saying that he had bought a game stop call option, the stock price jumped.

In addition, immediately after the close of the regular market, Tesla CEO Elon Musk also mentioned GameStop, and the stock price jumped more than 40% in after-hours trading, exceeding the $200 mark.

Musk, the head of Tesla, who has over 43 million Twitter followers and has a large number of hot-blooded fans, posted a post on Twitter that day, “Gamestonk!!” with a Reddit WSB link. It is analyzed that the individual investors began to buy more in Musk’s words, meaning’broad bombing’.

According to Marketwatch, as of the closing price on the 26th, Gamestop’s stock price jumped 663.57% in the last month, 1066.12% in the last three months, and soared 3414.96% in one year. The 52-week lowest price recorded on April 4 last year was $2.57.

Meanwhile, CNBC said in an article titled’List of stocks with the highest share of short selling that could be the target of the Reddit ant corps’, “Gamestop’s ruthless rally is throwing a lesson on Wall Street that ant investors should not be underestimated.” We mentioned stocks that could be used for the next investment.

According to data from S3 Partners, a financial analysis company cited by CNBC, short selling volumes for GameStop did not decrease significantly even with a huge short squeeze. The Reddit ant corps is already raising the stock price of its next target, including Bed Bath & Beyond (BBBY), CNBC reported.

Due to its high short selling ratio to the number of issued shares, the stocks that are likely to be targets of the Reddit ant corps are ▲Ligand Pharmaceuticals (LGND) ▲National Beverage (FIZZ) ▲Macerich Company (MAC) ▲Fubo TV (FuboTV: FUBO) ▲ SunPower (SPWR) ▲ Tanger Factory Outlet Center (SKT) ▲ AMC Networks (AMCX) ▲ Tootsie Roll (TR).

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