Small investors that hail from India have recently taken advantage of the frenzy surrounding GameStop and its shares. They’ve jumped on the opportunity, which is why GameStop is the most commonly traded stock in certain Indian brokerages.
Ever since January 12th, GameStop shares have gone up a whopping 1,700%. This is primarily thanks to amateur U.S. investors who decided to force professional short-shellers to leave their positions and succumb to heavy losses in the process.
Indian investment firm Vested Finance was one of the companies that toiled with GameStop shares, with 19% of their trades going to them. Another Indian investment firm Stockal followed suit, with 15% of their trades going to GameStop.
Sitashwa Srivastava, the co-founder of Stockal, had this to say about these recent developments: “This shows a marked shift in investor behavior from just using U.S. stocks to diversify their portfolios to rushing after a rally based on social media discussions. It could be reckless but it works for some.”
Although Indian investors generally go for the big companies, clearly they’ve proven that they have keen eyes for all potential lucrative markets.
