GameStop came into highlight as an investment opportunity. It was at that particular time when Michael Burry reported a stake in the company and was bullish on its futures.
Michael Burry is a game short investor and is best known for his bet against mortgage securities in pre financial crisis of 2008.
The competition has been boiling up over the last few weeks. A tiff competition between David and Goliath is in the limelight that is every one’s apple of eye.
Moreover, the location is very unusual this time in the US financial markets. This is because, at this time the center of the market is a video game company known as GameStop.
The retail investors started putting heavy investments in this company in a hope of smart profit.
This company has gone through a dramatic spike in the recent times with its sudden rise in the share price.
This spike was a result of Reddit’s report on WallStreet bets when it reported heavy short positions held by institutional investors.
With this holding news, GameStop caught a large attention. This is actually a social media driven interest which is now coupled with increased demand.
The shares are up at 1,914.55 percent, lurching since the beginning of the FY21.
The bubble will burst at any time but the Indian investors should bear risks regarding share holdings.
Indian investors must be aware of the RBI guidelines that list permitted capital accounts transaction doesn’t enlist options.
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