GameStop phenomenon spreads to Malaysian glove stocks ...Kuwait

News by : (The New Arab) -
Inspired by the US movement, Malaysian mom-and-pop investors on Thursday set up their own Reddit group, naming it BursaBets after the country's stock exchange.Malaysian retail investors joined forces on social media and pushed up stocks of under-pressure rubber glove makers on Friday, taking inspiration from the recent GameStop trading phenomenon in the US.  Shares of the US video game shop chain surged from less than $20 to a peak of $492 earlier this week, after millions of amateur investors active on online forum Reddit rallied together to punish short sellers by sending prices soaring.  In short-selling, investors borrow stock, sell it and then buy it back at a lower price, keepi

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