Business
3 shorted ASX shares that could shoot up
The GameStop Corp (NYSE: GME) share market chaos seen in the US could spill over to the ASX in a serious way, according to one investor behaviour academic.
Finance headlines this week have been dominated by the phenomenal rise in the price of GameStop stocks. The surge was triggered with a coordinated buying effort from activist retail investors to send institutional short sellers broke.
The electronic games retailer started the year at US$17.25 but shot up to as high as US$483 before moderating last night Australian time. It’s still sitting at US$193.60.
There is much debate in the United States as to whether this is legitimate activism against Wall Street shorting, immoral market manipulation, amateurs playing with fire, or all…
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