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Markets

GameStop situation unlikely in France, says market regulator

  • "It is improbable in France and Europe, but it is a situation to which we have to pay close attention," AMF head Robert Ophele told Boursorama TV.
  • Investors who followed popular Reddit forum WallStreetBets helped push GameStop shares to a closing high of $347.51 on Jan. 27.
Published February 12, 2021

PARIS: France is unlikely to see a situation similar to the volatile trade in shares of US video games retailer GameStop, the head of France's AMF market regulator said on Friday.

"It is improbable in France and Europe, but it is a situation to which we have to pay close attention," AMF head Robert Ophele told Boursorama TV.

Investors who followed popular Reddit forum WallStreetBets helped push GameStop shares to a closing high of $347.51 on Jan. 27 as part of a strategy to squeeze hedge funds that had taken short positions on the stock.

GameStop shares have since tumbled back to near $50 a share.

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