Small Investors Jump into the GameStop Frenzy All Over the World

[Cordillerabit]

With great interest, and more than a little FOMO, the world is watching U.S. markets as Reddit investors continue to test their might against Wall Street.

"It all began when retail investors on the wallstreetbets community of Reddit began pumping the price of the stock of U.S. video game retailer GameStop (GME) to counter or bet against Wall Street hedge funds that were "shorting. Many were reminded of crypto trading by what the Reddit group did, and the mainstream reaction as the stock skyrocketed.

The world watches, meanwhile, with some seeing what happened to GameStop as a more global story of ordinary investors taking over the power of large institutions.

"For many reasons, we are very interested in what is happening in the U.S. It's the feeling that we can now also play in the market for some of us, and we are also seeing how the markets are actually manipulated to serve only the wealthy. It's not a film. Bernard Parah, founder and chief executive officer of the Nigerian crypto trading startup Bitnob, told CoinDesk via an email... We saw this happen.

Nigerian investors bought GME using a number of apps, including Bamboo and Trove, which allow U.S. equity trading, according to Parah.

Small retail investors were quick to jump on the action in India, with GameStop becoming one of the top five traded stocks on Stockal, a platform, according to Bloomberg, used by Indian investors to trade U.S. equities.

China's retail investors also wanted in, with some users sharing their gains on social media with enthusiasm. In China, there are around 177 million retail investors.

European investors who still had access continued to trade after the U.S. retail trading platform Robinhood limited users from buying certain trend stocks including GME: wallstreetbets alleged that, despite the trading restrictions, they helped keep the GME price up.

GME makes you feel the strength of people all over the world.  The Asian people, after the Europeans, are joining the fight to support the movement. It only makes your blood boil by watching it,” a Chinese user wrote on Weibo, the popular social media app.

Source: Bityard