The 'battle royale' over GameStop will continue to overhang the market

GameStop has been in the red for four years, and lost US$500 million in 2019. PHOTO: REUTERS
New: Gift this subscriber-only story to your friends and family

SINGAPORE - When I warned of impending market volatility earlier in January, I never imagined the kind of activity we saw last week.

Who would have thought that a bunch of retail investors on social media could gang up, confront, then bring down some of the world's biggest hedge funds within days. And this "battle royale" was over a failing Wall Street video gaming stock.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.