Why GameStop saga probably couldn’t happen here
While some of the right conditions are present in the world of ASX-listed shares for a monumental short squeeze attack, experts say its chances are limited.
Investors are still getting to grips with a historic week in global markets in which a struggling and relatively obscure US video game retailer somehow became the world’s most heavily traded stock.
That came after a group of mostly Millennial and Gen Z DIY traders actually pulled off their far-fetched plan – plotted for months in a Reddit forum – to deliberately push the GameStop share price sky-high by buying stock en masse and cause problems for some big dog Wall Street hedge funds in the process in what is known as a “short squeeze” attack.
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