Zak twists the knife6 Feb 2021 00:40
It was certainly a fascinating week on the London stock market, one which was clearly looking over its shoulder regarding the Reddit Army phenomenon, even as the mainstream media laughed at “amateur” investors allegedly losing as Gamestop (GME) shares fell. Over here, as one might suspect, things were rather more low key. But the battle between the allies and the axis powers seemed to be centred around vertically integrated CBD specialist, Zoetic International (ZOE). Interestingly enough, having been on the receiving end of a single figure share price bear “dossier” price target, the shares rose for the second consecutive day. Rather than falling 90%, Zoetic shares are now up 30% from Wednesday’s 63p post short attack low. In addition, sentiment was such amongst traders that their anti-shorting sentiment was such they were prepared to buy and hold the stock in protest. The publicity associated with the whole affair has also apparently been attracted institutional interest to Zoetic.