Ironically, global markets, in particular US equity markets, appear to be inversely proportional to the “retail Reddit” stocks such as GameStop; AMC Entertainment Holdings, a cinema operator; and Express, a physical fashion retailer. These are the socalled old economy stocks which surged with the help of social media. Retail investors in particular should note that MUST Asset Management, a Korean-based fund manager that used to own 4.7% of GameStop sold all its shares following the surge last month, as announced in a filing on Jan 28.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe