Ebene Magazine – Cineworld is overnight hit amid frenzy for shorted stocks en

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Ebene Magazine - Cineworld is overnight hit amid frenzy for shorted stocks en

Investors took a punt on some of London’s most shorted stocks this morning, propelling Pearson to the top of the FTSE 100 leaderboard.

Shares in the textbook publisher surged by almost 12 per cent to 850.20p as the recent frenzy for heavily shorted stocks spread across the Atlantic.

The frenzy began when a group of American retail investors who congregate on a Reddit forum caused the video gaming retailer GameStop to rocket by 50 per cent on Friday to $65.01; the stock was worth only $17.25 on January 4.

Spurred by their US counterparts, UK investors piled into Cineworld. Shares in the FTSE 250 cinema chain soared by 9.86 points, or 13.48 per cent, to 83.00p.

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Cineworld is overnight hit amid frenzy for shorted stocks
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Cineworld Share News (CINE)

en

Ref: https://www.thetimes.co.uk

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