Business
‘Stunned’: GameStop trading frenzy causes local mining company shares to soar – Sydney Morning Herald
A local mining company has been caught up in the investing craze surrounding US company GameStop thanks to its ASX code matching that of the American video game…
This enthusiasm has penetrated investing groups in Australia, with traders on local Reddit forum ASXBets showing off apparent purchases of thousands of shares in the locally listed GME.
Peter Sullivan, GMEs managing director, told The Age and The Sydney Morning Herald he was stunned after waking up to see the companys share price up over 50 per cent.
When I opened my share tracking app and saw it was at 9.4 cents, I was stunned, he said. It just went bang, and I thought, well, whats going on here?…
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