Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 6PR account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 6PR content and other benefits.


Joining is easy.

Advertisement
Advertisement
Advertisement

WA mining company sees surge in share price after ASX mix up

Gareth Parker
Article image for WA mining company sees surge in share price after ASX mix up

A WA mining company has seen a massive surge in it’s share price, after being confused with a New York gaming company.

Video game retailer, Game Stop, is listed as GME, sharing the same trade ticker with WA mining company GME Resources.

Stocks for Game Stop began to surge last year after smaller investors on Reddit banded together to increase demand for the stocks on the US Stock Exchange.

Managing Director of GME Resources, Jamie Sullivan, told 6PR’s Gareth Parker, the confusion caused GME Resources share prices to increase by up to 80 per cent yesterday.

“Initially we weren’t sure what was happening, and it took a while to filter through that it was all to do with our ASX ticker, which is the same as Game Stocks,” he said.

“Obviously people aligned the two and maybe thought they were getting into Game Stop at a bargain price.”

Click play to hear thee full interview. 

(Photo: iStock by Getty Images.) 

Gareth Parker
Advertisement