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GameStop stock price frenzy: What to know
Market expert: GameStop’s stock surge ‘won’t end well’
Fairlead Strategies founder and managing partner Katie Stockton provides insight into GameStop’s stock surge and her outlook for the broader markets.
Trading volume has surged in shares of GameStop, AMC Entertainment, as well as Bed Bath & Beyond and BlackBerry, stunning Wall Street firms betting that those stocks would fall.
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AMC ENTERTAINMENT HOLDINGS INC
BED BATH & BEYOND INC.
The share prices instead spiked this week as retail investors, spurred by the online Reddit forum WallStreetBets, piled into the stocks. The volatility continued Wednesday as platforms like Robinhood and Interactive Brokers limited trading on certain stocks.
GameStop Corp. shares have risen by more than 1,900% since Jan. 8, hurting market short-sellers. Shares soared from $17.08 a few weeks ago to $347.51 at Tuesday's close. Here's how it happened.
Some renewed interest in GameStop
GameStop's stock had been struggling for six straight years before a slight surge in 2020 and its most recent explosion.
The company had lost most of its charm among investors in recent years as a brick-and-mortar store trying to survive in an Amazon world, but a spike in video game purchases amid the coronavirus pandemic suggested that things might turn around for the video game retailer.