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GameStop, Clover Health rise in early U.S. pre-market trading

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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 3.5% 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

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