GameStop tops list of the GCC’s most popular stocks: Saxo Bank

GameStop tops list of the GCC’s most popular stocks: Saxo Bank

DUBAI — Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, has revealed the most traded stock by its GCC-based clients in Q1, with GameStop mania seeing the video game distributor edge major technology brands including Tesla, Nio, Amazon and Apple during a three-month period defined by frenetic options trading, shares sold short and chat room wars.“Global equities continued the upward momentum in the first quarter amid increased volatility, which was especially evident in several heavily shorted stocks in the beginning of the year, such as GameStop and AMC,” said Peter Garnry, head of equity strategy at Saxo Bank.“Many of these names continue to attract retail interest although some of the hype seems to have faded. We continuously encourage investors to be cautious and closely monitor risk when trading in these stocks with unprecedented high volatility.”Tesla ranked second amongst Saxo Bank's GCC-based traders, with Garnry adding: “Tesla remains a popular stock with our clients and the increasing competition is somewhat at odds with the current valuation of the Tesla,