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GameStop shares tumble, spelling possible end to manic Reddit rally – Sydney Morning Herald
GameStop shares are 50 per cent lower on Wall Street and silver prices retreated as the Reddit-driven trading frenzy that has shocked global financial markets appeared…
Other so-called meme stocks caught up in the Reddit rally also sold off. AMC Entertainment Holdings, Express, Naked Brand Group and Koss each dropped by about a third, while BlackBerry Ltd and Bed Bath & Beyond showed double-digit percentage losses. Nokias US-listed shares fell 8 per cent.
The rally is likely over (since) the short positions are pretty well taken care of, said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
Thats the game you play when you do this thing….
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