GME - GameStop AMC Fame's Reddit Group WallStreetBets Now Goes Hunting For Gains In India: 'It's Like 2 US Right Now' | Benzinga
This story was first published on the Benzinga India portal.
Popular US retail investors group on Reddit, r/wallstreetbets, is now on the hunt for investment opportunities in the Indian stock market. This is the same group that was behind the infamous squeeze against GameStop Corp. (NYSE: GME) and AMC Entertainment (NYSE: AMC) short sellers.
What Happened: Retail investors on the popular investment subreddit, r/wallstreetbets, are beginning to train their eyes on the Indian stock market.
Looking for new avenues to invest their money in, a user, u/pondersassinorum, has put out a detailed thesis, "India is the play,” regarding investing in the country.
Introducing the Indian market to other users, the poster highlights India’s population, market, and government’s economic stance, and the fact that many Indians speak English.
Indian economy’s Q3 growth rate of 8.4%, as opposed to the U.S. whose gross domestic product, or GDP, grew at a meager 3.4% (annualized) in the same period, was another factor behind the poster’s bullish stance on India.
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