GameStop-like situation unlikely in France, Europe: market regulator
"It is improbable in France and Europe, but it is a situation to which we have to pay close attention", says AMF head Robert Ophele
- Feb 12, 2021,
- Updated Feb 12, 2021 6:22 PM IST
France is unlikely to see a situation similar to the volatile trade in shares of U.S. video games retailer GameStop, the head of France's AMF market regulator said on Friday.
"It is improbable in France and Europe, but it is a situation to which we have to pay close attention," AMF head Robert Ophele told Boursorama TV.
Investors who followed popular Reddit forum WallStreetBets helped push GameStop shares to a closing high of $347.51 on Jan. 27 as part of a strategy to squeeze hedge funds that had taken short positions on the stock.
GameStop shares have since tumbled back to near $50 a share.
Also Read:Tesla drives up bitcoin price to over $47,000 with $1.5 billion purchase
France is unlikely to see a situation similar to the volatile trade in shares of U.S. video games retailer GameStop, the head of France's AMF market regulator said on Friday.
"It is improbable in France and Europe, but it is a situation to which we have to pay close attention," AMF head Robert Ophele told Boursorama TV.
Investors who followed popular Reddit forum WallStreetBets helped push GameStop shares to a closing high of $347.51 on Jan. 27 as part of a strategy to squeeze hedge funds that had taken short positions on the stock.
GameStop shares have since tumbled back to near $50 a share.
Also Read:Tesla drives up bitcoin price to over $47,000 with $1.5 billion purchase