Crypto Derivatives Trading Platform, FTX has listed Gamestop $GME on its platform.
This is coming after the apparent and unusual trading activities around the stock in recent days. According to reportings, a group of retail traders had been pushing the price of $GME upward after Hedge Fund firm, Melvin Capital shorted the company’s stocks.
The battle between the Hedge Fund (Melvin Capital) and retail traders resulted in the liquidation of billions of dollars of the firm and an almost total liquidation until it closed its short position.
The price of $GME has been flying unusually high and there apparently is no substance-sustaining fundamentals behind the price increase.
The listing of $GME by FTX is one of the several innovations the firm has made in recent months. Other than $GME, there are other stocks tradable on the exchange such as Tesla, Amazon, etc.
It’s unclear what impact this listing will have on the market, however let’s hear your opinion via the comment section.