Business & Investment

Gamestop shares surge in pre-market trading when Trading 212 unblocks

Would you like to play the game again? When the Trading 212 app unblocks controversial stocks, Gamestop stocks jump to the brink of $ 400 in pre-market trading.

  • Stocks rose to $ 393 (£ 286) in pre-market trading
  • The rise of Reddit-fueled meteorites reversed yesterday after Robin Hood blocked it.
  • UK investors can unblock and then buy again through Trading212

Gamestop’s share price will resume its dramatic rise today after rising overnight in pre-market trading.

Shares have risen to $ 393 (£ 286), a surge of more than 100% from last night’s closing in the US market.

The controversial company is still at the heart of the stock market storm caused by the clash between the Reddit investment group and some Wall Street hedge funds.

Gamestop’s share price rose to $ 393 overnight in pre-market trading

The popular US trading app Robinhood has been involved in controversy after blocking people who buy shares in Gamestop and is currently facing numerous proceedings from angry users.

Meanwhile, Trading 212, which is currently the closest to Robin Hood available in the UK, resumed trading stocks in US video game retailers this morning.

To many of its users’ frustration, Trading 212 blocked Gamestop’s purchase yesterday because of “unprecedented demand” that overwhelmed its ability to execute transactions. Also, new user registration has been closed.

In a Twitter statement, the company said: ‘Gamestop and AMC Entertainment trading, which was initially restricted by executive intermediaries, is now possible.

“But I would like to warn you that there is a high risk of long-term suspension of execution for both buy and sell orders caused by extreme market activity.”

Joshua Mahony, an IG analyst, said: The focus is on the adjusted movement of very scarce stocks such as’AMC and Gamestop, but there is a broader theme of seeing retailers’ power to move the market in much the same way. Hedge funds have been there in the past. ”

“The market collapse in 2020 seems to have accelerated the pace of recruitment of new traders, and there are many signs that this new generation is refusing to play games according to previous norms.

“Sure, the Reddit generation is causing a lot of volatility in the market and providing traders with yet another risk factor to consider.”

Robin Hood faces a proceeding from an angry user after blocking the purchase of Gamestop shares

Robin Hood faces a proceeding from an angry user after blocking the purchase of Gamestop shares

“The brawl between retail speculators and hedge funds over GameStop has been distracting and sometimes embarrassing, but it’s much more of a dispute than one with broader or lasting market importance. I think it’s a local fight over the stocks that are being hedged, “Paul O added. Connor of Janus Henderson Investors.

“Of course, these battles have caused the equity market to experience significant volatility for several days, but the overall impact on long-term investors, Quants funds and macro investors has been minor.”

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Gamestop shares surge in pre-market trading when Trading 212 unblocks

https://www.dailymail.co.uk/money/markets/article-9201285/Gamestop-shares-surge-pre-market-trading-Trading-212-lifts-block.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Gamestop shares surge in pre-market trading when Trading 212 unblocks

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