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GameStop was January’s 2nd-most traded foreign stock

The image shows a GameStop storefront. US Online trading platform Robinhood in January temporarily restricted trading in GameStop and other stocks that have soared recently due to rabid buying by smaller investors. (AP-Yonhap)
The image shows a GameStop storefront. US Online trading platform Robinhood in January temporarily restricted trading in GameStop and other stocks that have soared recently due to rabid buying by smaller investors. (AP-Yonhap)


Despite the recent stock price saga of US video gaming retailer GameStop, the company was not the most-traded stock among South Korean investors in January, according to data on Monday.

In data compiled by Korea Securities Depository, a post-trade service provider, the gaming retailer came second in terms of stock transactions last month, with the trading volume reaching $2.4 billion. Korean traders net bought some $1.1 billion worth of GameStop shares and net sold $1.3 billion over the month.

Tesla, which has been spearheading the global electric car market, took the first place spot with the entire trading volume topping $4.4 billion. Local investors purchased $2.7 billion-worth of Tesla shares while selling $1.7 billion of the shares in January.

Tech giants Apple and Amazon were also the most favored stocks as Korean investors traded around $1.6 billion and $776 million, respectively, last month.

GameStop shares were on a rollercoaster ride as a frenetic buying spree led by small investors who recently waged war against short selling took the stock up triple digits in just a day or two. The stock, which experienced extreme highs and lows many times, soared over 1,600 percent last month.

(wone0102@heraldcorp.com)
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