Exhibit 17: GameStop stock doubles again with no let-up in amateur interest — Reuters News (Document 566-17)

Summary

Exhibit 17 (Document 566-17) in Case 1:21-md-02989-CMA, entered on the FLSD docket June 7, 2023, is a three-page Factiva printout of a Reuters News article of 27 January 2021, GameStop stock doubles again with no let-up in amateur interest. The article reports that GameStop shares surged another 130% in pre-market trading as amateur investors piled into a stock up nearly 700% over two weeks, and that the top securities regulator in Massachusetts, per Barron's, sees something systemically wrong with the options trading around the stock, which rose to $148 from $19.95 since Jan. 12. It quotes Deutsche Bank strategist Jim Reid that the r/wallstreetbets episode is unlikely to end well for someone.

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Case 1:21-md-02989-CMA Document 566-17 Entered on FLSD Docket 06/07/2023 Page 1 of 3




                         Exhibit 17
Case 1:21-md-02989-CMA Document 566-17 Entered on FLSD Docket 06/07/2023 Page 2 of 3




GameStop stock doubles again with no let-up in amateur interest
350 words
27 January 2021
05:48
Reuters News
LBA
English
Copyright 2021 Thomson Reuters. All Rights Reserved.

(Reuters) - Shares of videogame retailer GameStop Corp surged another 130% on Wednesday in pre-market trading as
amateur investors continued to pile into the stock that has skyrocketed nearly 700% over the past two weeks.

The share spikes in GameStop and others including BlackBerry Ltd , headphone maker Koss Corp and Nokia Oyj , have
sent short-sellers scrambling to cover losing bets, while raising questions about potential regulatory clampdowns.

The top securities regulator in Massachusetts thinks trading in GameStop stock, which has jumped to $148 a share from
$19.95 since Jan. 12, suggests there is something "systemically wrong" with the options trading surrounding the stock,
Barron's reported on Tuesday.

GameStop , BlackBerry and Nokia were among the most heavily traded U.S. stocks before the bell, with analysts putting
the moves partly down to herds of amateur investors chasing tips from Reddit discussion threads or the private Facebook
group "Robin Hood's Stock Market Watchlist".

"These are not normal times and while the (Reddit) r/wallstreetbets thing is fascinating to watch, I can't help but think that
this is unlikely to end well for someone," Deutsche Bank strategist Jim Reid said.

Trading in GameStop stock was halted for volatility nine times on Monday and five times on Tuesday.

Short sellers in GameStop are down $5 billion on a mark-to-market, net-of-financing basis in 2021, which included $876
million of losses early Tuesday, according to analytics firm S3 Partners.

But some hedge funds have refused to budge from their bearish bets, with FIS' Analytics data showing investors had piled
on $2.2 billion in bearish bets on GameStop - a whopping 20% of its market capitalization.

Meanwhile in Europe, shares of Evotec and Varta jumped on chatter that Melvin Capital Management was being forced to
unwind its short positions to cover losses on its other bearish bets, including GameStop .

(Reporting by Thyagaraju Adinarayan in London and Sruthi Shankar and Aaron Saldanha in Bengaluru; editing by Sujata
Rao and Anil D'Silva)

Released: 2021-1-27T10:48:45.000Z

Reuters News & Media Inc.

Document LBA0000020210127eh1r01ibl


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Text                     "gamestop stock doubles again with no let-up in amateur interest"
Date                     In the last 5 years
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Company                  All Companies
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Case 1:21-md-02989-CMA Document 566-17 Entered on FLSD Docket 06/07/2023 Page 3 of 3
Industry         All Industries
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Results Found    3
Timestamp        7 June 2023 20:31

                                                   © 2023 Factiva, Inc. All rights reserved.


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