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GameStop Mania Spreads Half a World Away to Glove Makers

  • Bursabets is “Malaysian version” of WallstreetBets: moderators
  • Top Glove’s shares jump as much as 15%, most since Sept. 11
Top Glove, The World’s Biggest Glovemaker, Raises Money as Virus Fuels Demand
Photographer: Samsul Said/Bloomberg
Updated on

The manic ride in GameStop Corp. sparked by American amateur traders on Reddit has inspired some Malaysians to form a similar group targeting shares of glove makers -- one of Asia’s hottest pandemic trades in 2020.

The online community by the name of Bursabets was created on Thursday and is already boasting more than 7,600 members. The moderators of the group have defined it as the “Malaysian version” of Reddit’s WallStreetBets forum, to discuss stocks listed on Bursa Malaysia. The discussions so far have centered on glove makers and calls to rally against institutional investors who have kept valuations of the sector low.