FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed GameStop logo in this illustration taken February 8, 2021.
LONDON (Reuters) - Investors are estimated to have made billions of dollars from their bearish bets on Tesla and big tech stocks in the recent knee-jerk selloff triggered by a jump in U.S. Treasury yields, data from financial analytics firm Ortex showed on Tuesday.
The company, which was at the heart of the so-called “stonks” retail trading mania, has jumped another 400% in the past two weeks as amateur investors have jumped back in.
GameStop’s e-commerce strategy plans were seen driving this week’s renewed gains in January’s “meme” stocks, alongside speculation that small investors will use their upcoming stimulus checks to trade.
In other major bets, investors made about $1 billion from shorting QQQ, an ETF that tracks the performance of the Nasdaq 100.
The tech-heavy benchmark hit correction territory on Monday, slipping more than 10% from record highs.
- GameStop Defies Gravity Again With Rally Topping 100% GainBloomberg
- GameStop shares soar more than 20%, on track for fifth day of gainsReuters
- GameStop gains another 20%, extends five day rallyYahoo Finance
- GameStop stock shoots past $200 on TuesdayCNET
- GME share price explained: Why GameStop stock value has increased again a month on from Reddit 'short squeeze'iNews
- GameStop Surges After Tapping Tech Tycoon to Lead Digital ShiftYahoo Finance
- GameStop Short Sellers Nursing $11 Billion in Losses This Year - OrtexTheStreet
- GameStop shares surge 53% after Cohen tapped to lead e-commerce pivotThe Globe and Mail
- GameStop rallies above $200 for the first time in a month as transition steps attract new bullsmsnNOW
