Stocks have had a strong year so far, with share prices rising approximately 50% since bottoming in October 2022. This is the best performance since 1957.
In 2021, a trader with a large Reddit following induced a massive rally in shares of GameStop Corp. NYSE: GME. The downtrodden gaming retailer was the most shorted stock in the entire market in January 2021, but the retail buying frenzy triggered a massive run-up in price as hedge funds were forced to cover their short positions to prevent huge losses.
While the shares are still up some 30% over the past month, the stock has fallen sharply from its May peak near $50.
GameStop (NYSE: GME ) stock is fading. Shares of the video game retailer have lost almost two-thirds of the value gained after the recent run-up caused by Roaring Kitty's return to social media.
GameStop Corp.'s trading volume fell to its lowest level in nearly eight weeks on Wednesday as the dust continues to settle after the recent meme-stock frenzy.
GameStop (NYSE: GME) stock price has retreated sharply in the past few weeks as the meme mania faded. After soaring to $65.20 in May, it has plunged by over 62% to the current $24.93, costing investors over $1 billion.
At this point, I don't see any good reasons to buy or even hold GameStop (NYSE: GME ) stock. Fundamentally, the company's business is contracting and its business model is broken while its CEO, Ryan Cohen, does not seem to have a viable plan to turn the company around.
On Wall Street, market gurus come and go. Every few years, there's a new “expert” who gains a following and can influence markets.
Social media forum Reddit Inc. NYSE: RDDT made headlines during the 2021 meme stock frenzy as its popular wallstreetbets forum led small investors into shares of GameStop Co. NYSE: GME, fueling its historic short squeeze. The company went public through an IPO on March 21, 2024, rising to a $74.90 peak the following day and falling to a low of $37.35 just a few days later.
Do you trade stocks for excitement and thrills, or to make money and actually keep it? This is a question for sensible investors to consider as GameStop (NYSE: GME ) is certainly garnering attention in 2024, but not for all the right reasons.
Meme stock madness has returned to Wall Street after a three-year hiatus, with Roaring Kitty (a.k.a. Keith Gill) drawing in massive crowds online with his big bets on GameStop (NYSE: GME ) stock.
After weeks of surging through the hype, GameStop's (NYSE: GME ) fanfare appears to finally be subsiding. Now, retail investors are more aware of this stock's risks in times of short squeezes and meme frenzy.