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GameStop, Clover Health rise in early US pre-market trading

GameStop, Clover Health rise in early US pre-market trading

FILE PHOTO: The GameStop store sign is seen at its shop in Westminster, Colorado January 14, 2014. GameStop Corp, the world's largest videogame retailer, warned of lower-than-expected profit as sales sagged for games played on older versions of Xbox and PlayStation consoles. REUTERS/Rick Wilking

REUTERS: Shares of videogame retailer GameStop Corp and insurance company Clover Health rose 3.5per cent and 4.1per cent, respectively, in early U.S. pre-market trading on Friday.

Clover Health had slumped 12per cent on Thursday after short-selling specialist Hindenburg Research published a critical report of the Chamath Palihapitiya-backed company.

GameStop's stock has now slumped to about US$53 after scaling as high as US$483 last week in a rally fueled by amateur traders on social media forums such as Reddit's WallStreetBets. It is still up about 177per cent from levels at the start of the rally.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)

Source: Reuters

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