people power ,nice28 Jan 2021 14:44
A battle between day traders and Wall Street pros over the soaring share price of GameStop is set to continue.
Shares in the loss-making video games retailer jumped about 30% in pre-market dealing, adding to massive gains seen earlier this week.
Professional investors have lost large sums after betting billions of dollars that GameStop's shares would fall.
But buying by amateur investors, swapping tips on social media sites like Reddit, pushed up the share price.
Shares in GameStop have now risen more than 700% since last week, and regulators are monitoring trading amid fears of illegal market manipulation.
But the amateur investors say they are just playing Wall Street at its own game.