GameStop phenomenon spreads to Malaysian glove stocks

Kuala Lumpur (AFP) – Malaysian retail investors joined forces on social media and pushed up stocks of under-pressure rubber glove makers on Friday, taking inspiration from the recent GameStop trading phenomenon in the US.  Shares of the US video game shop chain surged from less than $20 to a peak of $492 earlier this week, after millions of amateur investors active on online forum Reddit rallied together to punish short sellers by sending prices soaring.  In short-selling, investors borrow stock, sell it and then buy it back at a lower price, keeping the difference. But if a stock unexpectedly…

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HEDGE accordingly