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GameStop saga: All that has happened so far

Retail investors had caused a spike in GameStop's share price, causing losses for hedge funds such as Citron and Melvin Capital, who had shorted on the stock.

January 29, 2021 / 01:01 PM IST
Image: Reuters

Image: Reuters

After the surge in US video game retailer GameStop's shares, online trading platforms Robinhood and Interactive Brokers restricted trading on the shares on January 28.

The platforms had also restricted trading in the stocks of AMC Entertainment and Blackberry, which along with GameStop were reportedly topics of discussion on Reddit chat forum 'Wallstreetbets'.

After social media chatter, retail investors had caused a spike in GameStop's share price, causing losses for hedge funds such as Citron and Melvin Capital, who had shorted on the stock.

Robinhood later said it would permit limited trading of the restricted stocks on January 29.