GameStop | The latest GameStop Corporation (GME) news, stock quotes, Reddit group wallstreetbets updates, and more!
A meteoric rise in the share price of GameStop has trained the eyes of stock market watchers on a fast-growing Reddit discussion board called Wallstreetbets, where it appears that 20-somethings armed with, MooMoo, and TradeStation are targeting stocks to soar and hedge funds for takedowns.
The drama sent GameStop shares up nearly 2,000% at one point in less than a month. On Wednesday, the stock price of the troubled retailer of video games soared yet again, this time up more than $200, to surpass $350 a share. GameStop’s stock price fell a bit closer to earth on Thursday, dropping by about a third, or about $115, to $235. But that’s still up from the mere $14 a share GameStop had commanded in December.
While GameStop shares have been a favorite of Wallstreetbets members, it’s a money-losing company that has been closing stores amid years of slumping sales and been a target of hedge funds and so-called short-sellers who wager that the shares of particular companies will fall.