The ETFs most exposed to Reddit darling GameStop

Passive industry owns a fifth of shares

James Baxter-Derrington
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GameStop has overtaken Tesla as the most traded stock of late. Photo: Mike Mozart/Flickr CC BY 2.0
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GameStop has overtaken Tesla as the most traded stock of late. Photo: Mike Mozart/Flickr CC BY 2.0

Almost 100 ETFs are exposed to America's most-traded stock, with a total 13.6m shares representing a 19% stake in GameStop, according to data from Logicly.

When the closing bell rang yesterday, GME's share price was $193.60, resulting in the passive industry's stake being worth $2.6bn. However, in pre-market trading, the price has risen more than 100% to $423.66 at time of writing, or a total passive stake of $5.8bn. DWS launches Nasdaq ETF as part of trio of US launches The GameStop saga began when subreddit r/WallStreetBets, effectively an online forum discussing trading strategies, discovered that hedge fund Melvin Capital Management had a large number of shorts against the video game retailer and realised it could cause significant l...

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