Smaller investors face down hedge funds, as GameStop soars

first_imgNEW YORK (AP) — A head-scratching David and Goliath story is playing out on Wall Street over the stock price of a money-losing video game retailer. An army of smaller-pocketed, optimistic investors is throwing dollars and buy orders at the stock of GameStop _ in direct opposition to a group of wealthy investors who are counting on the stock price to plunge. The resulting action is wild, with GameStop’s stock soaring nearly 145% in less than two hours Monday morning, only for the gains to disappear quickly afterward. And so far, the smaller investors appear to be winning.last_img

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