(Reuters) – Shares of videogame retailer GameStop Corp and insurance company Clover Health rose 3.5% and 4.1%, respectively, in early U.S. pre-market trading on Friday.
Clover Health had slumped 12% 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 $53 after scaling as high as $483 last week in a rally fueled by amateur traders on social media forums such as Reddit’s WallStreetBets. It is still up about 177% from levels at the start of the rally.
Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr