Right after Elon Musk Tesla’s CEO, known as the representative of the’anti-short selling’ force, recently posted on Twitter about’Gamestop’ or’Bitcoin’, the phenomenon of asset prices surged several times. have. The photo shows CEO Musk visiting a future electric vehicle factory in Germany last September. Berlin = AFP Yonhap News
“Elon Musk also took the coordinates. Let’s participate in the game stop short sale.”
The anti-short selling movement that started with the US video game company’GameStop’ spreads all over the world, and many individual investors are wielding the’invisible voice’.
A word on celebrity social network service (SNS) and a few articles posted on the online community are showing a surge in prices and a plunge across the stock market, the spot market, and the virtual asset market.
Celltrion’s aftermath of’Game Stop’ in the US
In the KOSPI market on the 2nd, Celltrion finished trading at 355,000 won, down 4.18% from the previous trading day. The’Celltrion Brothers’ listed on the KOSDAQ market also fell -4.38% (Celltrion Healthcare) and -3.36% (Celltrion Pharmaceuticals), and HLB’s share price also recorded -1.76%.
All of these are stocks that surged 7-15% the previous day. This is because, on the 31st of last month, the Korea Stock Investors Association (Han Tu-yeon) declared the’war against short selling’ and selected Celltrion and HLB as the stocks with the highest proportion of short selling among domestic stocks. In fact, the short selling balance of Celltrion was 2.59 trillion won as of the 28th of last month, the largest among securities market stocks, and HLB and Celltrion Healthcare ranked first and second respectively in the KOSDAQ market.
Han Too-yeon’s’declaration of war’ stimulated domestic investors. Many people are against the resumption of short selling, which is scheduled for the 15th of next month, and investors who have been stimulated by the’Game Stop War’, which was successfully going on in the United States every day, flocked in one day. On this day, the volume of Celltrion transactions reached 6.2 million, the highest since the day when the news of the application for a corona treatment license was delivered at the end of last year. Thanks to this, Celltrion’s share price rose 14.51% in one day, playing a leading role in the KOSPI rise.
However, the joy did not last less than a day. This is because GameStop shares, the epicenter of the’anti-short selling movement’, fell sharply the previous day and, unlike before, the over-the-counter market also increased.
On the 1st (local time), GameStop’s stock price fell 30.77% from the previous trading day to $225, and 15.77% off the market. It means that the stock price fell sharply on this day as individual domestic investors, frightened by the news, sold Celltrion net.
The U.S. stock market rose all at once due to the crash of GameStop stock prices, and a large number of foreigners who had left the market came back, closing the market at 3,096.81, up 1.32% from the previous day.
Celltrion and HLB’s two-week share price fluctuations, which were designated as runners of the Korean version of the’anti-short selling movement’. On the 1st of this month, the day after the Korea Investors Association mentioned them, the stock price jumped significantly. Graphic = Reporter Park Gu-won
Ants rushing along the’Unknown Finger’… Will they land in Korea?
The anti-short selling movement that started at GameStop is now spreading to other assets like’games’. The representative one is silver. According to CNBC, the spot price of silver rose 10.4% at one time in the morning of the 1st (local time) to $29.70 per ounce, the highest level in eight years since February 2013.
The rise in silver prices, ironically, was due to some internet posts. Since the end of last month on Reddit, an American community site that is leading the game stop war, silver price fluctuations intensified after some users pointed to silver as the next goal that could damage large banks and short selling forces. According to Bloomberg News, silver spot prices have risen by 15% for three days in a row since claims that silver should be bought on the site began to be posted, and silver futures prices also rose by 10% for two days.
Bitcoin also rose and fell in an instant as it received the’point’ from the CEO of Tesla, Elon Musk, a representative of the anti-short selling force. Right after CEO Musk wrote the word’#Bitcoin’ in his Twitter account on the 28th of last month, the price of bitcoin, which was at the level of 30,000 dollars, soared to 38,000 dollars in an hour. Immediately after CEO Musk mentioned GameStop on Twitter, GameStop’s stock price surged more than 60%.
Difficulty in the occurrence of’second game stop’ in Korea
However, due to the characteristics of the domestic stock market, it is analyzed that the second game stop is difficult to come out in Korea. Because the market itself is not large, there are not many speculative short selling forces as in the US, and the stock price has already risen a lot due to the restriction on short selling that has lasted nearly a year.
In a report on the day, Noh-gil, NH Investment & Securities researcher said, “The size of speculative short selling may not be larger than expected in the domestic stock market.” “It will be difficult to have a similar pattern to GameStop, where this ratio has exceeded 100%.”
In the case of domestic investors, rather than being swept away by the anti-short selling movement, they need to keep a close eye on the situation. He pointed out, “The potential of the stock-buying movement is sufficient, but it is worth keeping in mind that there are differences from the US case.”
Kwak Joo-hyun reporter [email protected]
News directly edited by the Hankook Ilbo can also be viewed on Naver.
