GameStop mania could be illegal in Singapore
Retail investors need to exercise discretion, participate responsibly in online discussions without infringing the SFA, and not fall prey to dishonest traders.
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WALL Street began the new year with a David and Goliath act when video game retailer GameStop's share price rallied amid an anti-establishment movement brought on by retail traders on Reddit page WallStreetBets.
Their mission?
To force establishment investors, who were selling short on GameStop stocks, to cease support of bearish bets against GameStop by driving up its share price and at the same time profit from the short squeeze.
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