GameStop situation unlikely in France, says market regulator

France is unlikely to see a situation similar to the volatile trade in shares of U.S. video games retailer GameStop (NYSE:GME), the head of France’s AMF market regulator said on Friday.

“It is improbable in France and Europe, but it is a situation to which we have to pay close attention,” AMF head Robert Ophele told Boursorama TV.

Investors who followed popular Reddit forum WallStreetBets helped push GameStop shares to a closing high of $347.51 on Jan. 27 as part of a strategy to squeeze hedge funds that had taken short positions on the stock.

GameStop shares have since tumbled back to near $50 a share.