fbpx

The Rise and Fall of the GameStop Frenzy

The Rise and Fall of the GameStop Frenzy

GameStop’s rocket ship has come back to earth. A Reddit-fueled day-trading craze last month pushed shares of GameStop Corp. , the videogame retailer,

Merck Scraps Covid Vaccine Candidates
Man climbs onto wing of airplane before takeoff in Las Vegas
Man wearing Trump mask, Santa Claus hat shoots brother-in-law, police say

GameStop’s rocket ship has come back to earth.

A Reddit-fueled day-trading craze last month pushed shares of GameStop Corp. , the videogame retailer, as high as $483, but the hype has fizzed. Shares traded Thursday around $50, off almost 90% over the past two weeks.

Interest has diminished on WallStreetBets, the forum that sparked the frenzy, and trading volume and short interest have tumbled as well.

Here’s how GameStop rose and fell.

Individual investors were piling into GameStop as early as Jan. 13, according to data from VandaTrack. That day saw more net purchases of GameStop shares by retail investors than major technology companies—longtime favorites on WallStreetBets.

This post first appeared on wsj.com

Do You Enjoy This Article?
Sign up for our newsletter and receive FREE access to download SuccessDigest Digital Weekly Edition for attainment of your financial freedom in the new digital economy!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.

COMMENTS

WORDPRESS: 0
DISQUS:
%d bloggers like this: