SYDNEY: The market drama surrounding GameStop Corp is spreading ever further beyond Wall Street, whipsawing stocks from Amsterdam to Sydney as traders race to bet on where the flood of retail money might head next.
Heavily shorted companies have emerged as the biggest targets, after an epic short squeeze in GameStop helped drive up the stock more than 400% this week. In Europe, short-seller favourites including Unibail-Rodamco-Westfield jumped 20% or more.
E-commerce giant Rakuten Inc and baby-care goods maker Pigeon Corp climbed at least 6.9% in Tokyo.
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