how long did it take gamestop stock to rise

Why did the price of GameStop stocks jump so suddenly?

 · Jan. 22, 2021: GameStop surges 50%. As the tug-of-war between the everyday investors and hedge funds heated up and support grew for GameStop on r/wallstreetbets, the stock skyrocketed more than 50 ...

Why did everyone Buy GameStop?

102 rows · Discover historical prices for GME stock on Yahoo Finance. View daily, weekly or monthly format back to when GameStop Corp. stock was issued.

Why is GameStop stock going up?

Historical daily share price chart and data for GameStop since 2022 adjusted for splits. The latest closing stock price for GameStop as of May 11, 2022 is 81.33.. The all-time high GameStop stock closing price was 347.51 on January 27, 2021.; The GameStop 52-week high stock price is 344.66, which is 323.8% above the current share price.; The GameStop 52-week low stock price is …

Why did GameStop skyrocket?

 · GameStop’s stock price went on another wild ride on Wednesday, rising to $348.50, before falling dramatically to $172 and then settling at $265. Amateur investors appear to be interested in ...

When did GameStop stock hit its peak?

Stocks of video game retailer GameStop exploded in January 2021, effectively doubling in value on a daily basis. At the close of trading on January 27, GameStop Corporation's stock price reaching 347.51 U.S. dollars per share - or +134 percent compared to the day before.

Why did GameStop stock rise so fast?

GameStop shares skyrocketed in January as retail investors, urged on by popular Reddit forum WallStreetBets, bought the stock as a way to punish hedge funds that had taken an outsized short bet against it.

How long did it take GameStop stock to squeeze?

In around 10 trading days, a series of short squeezes occurred making the stock price jump over 15 times, eventually resulting in a stock price as high as $500. A similar trend was seen in AMC Entertainment, a movie theatre chain, where the share prices jumped ~300% on January 27, 2021, closing the same at $19.88.

When did GameStop stock surge?

In January, GameStop's stock price shot through the roof reaching a peak of $483. There were many questions about this sudden surge, especially from the Securities and Exchange Commission, which investigated the rise and fall of the so-called "meme stocks" at the start of the year.

Is GameStop a good stock to buy 2022?

GME shares nearly doubled to over $300 in four weeks. Fundamentally, little more than a mixed-bag earnings report delivered last week justifies the March 2022 bullishness.

Does GameStop short squeeze?

Summary. A large portion of the market still expects a short squeeze, or a monster short squeeze, in shares of GameStop. The dollar amount of shorted GME shares has greatly declined over the last year, however. GameStop's share price also went through a large drop in pricing.

How high can GME short squeeze?

A short squeeze is vigorous and can spike with no warning. This is where you see 100% gains in a matter of seconds and minutes. A short squeeze can even reach 1000% and 10,000% gains.

How much did Melvin capital lose on GameStop?

Melvin had been betting against GameStop since 2014. It profited as the shift toward downloaded and streaming videogames caused the bricks-and-mortar retailer's stock to drop. The gaming industry had its best year in 2020, but GameStop lost $215.3 million, following a larger loss the prior year.

Is GameStop still being shorted?

GameStop stock's current short interest is 18.5%, according to Yahoo Finance, as 8.6 million shares are currently used by bears to express their pessimistic views. This is a substantial increase since the November 2021 update, when 6.8 million shares were being shorted.

Is GameStop a good stock to buy?

GameStop's prospects aren't great as any remaining investors are likely to find out this week. It sports a middling 14 IBD Composite Rating. That means its chart and fundamentals only underperform 86% of all companies' And the company is seen losing money in fiscal 2022, ended in January 2023.

Is GameStop still going out of business?

GameStop Stores Are Closing At the end of 2020, GameStop announced that they planned to close 1,000 stores by March of 2021.

How did GME short squeeze start?

The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated.

Why did GameStop stock boom?

That's what is happening with GameStop. As retail investors began to buy up its shares and options — many of them egged on by Wall Street Bets and other forums — its stock began to surge, forcing the short-selling hedge funds to buy back the borrowed shares at a higher price, which itself pushed the stock price higher.

Why did GameStop stocks go crazy?

“The sudden, sharp surge in GameStop's share price and valuation likely has been fueled by a short squeeze, given the high short interest, and, to a lesser degree, speculation by retail investors on forecasts for the new gaming cycle and the involvement of activist RC Ventures,” Telsey analyst Joseph Feldman said in a ...

Why is GameStop stock going crazy?

His app's user-friendly interface and his initial belief in imposing few guardrails on its traders enabled an unprecedented surge in the share price of the video game retailer GameStop.

What caused the surge in the GameStop stock?

The late January surge was fueled by individual retail investors, many from the Reddit page WallStreetBets, some of whom believed the GameStop was undervalued and others who wanted to squeeze hedge funds that had shorted the stock.

What happened to GameStop stock in 2021?

In January 2021, a short squeeze of the stock of the American video game retailer GameStop ( NYSE : GME) and other securities took place , causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$ 500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities and cryptocurrencies also increased.

How much did GameStop lose on March 8?

has progressed.". Trading on March 8, specifically, caused $609 million in losses from short sellers.

When will GameStop close in 2021?

Closing price and trade volume of GameStop Corp. ( GME) from January 4, 2021, to February 5, 2021. In January 2021, a short squeeze of the stock of the American video game retailer GameStop ( NYSE : GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers.

What is the price of GameStop in 2021?

As of January 28, 2021. [update] , the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.

How much is GameStop worth in 2021?

Asset manager BlackRock had a roughly 13-percent stake in GameStop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock.

Is GameStop undervalued?

However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3-percent stake in GameStop in mid-2019.

Who owns GameStop?

However, investor Michael Burry, who had acquired a 3.3-percent stake in GameStop in 2019, criticized the short squeeze, stating that "there should be legal and regulatory repercussions", and adding "this is unnatural, insane, and dangerous".

How many stores does GameStop have?

GameStop (NYSE: GME) is primarily a bricks-and-mortar video game retailer with more than 5,000 stores. But this business model is frowned upon by many in the investment community due to both long-term and short-term factors. Long-term, fewer and fewer gamers actually journey out to physical stores to purchase their games.

How much did GameStop lose in 2020?

The company had a net loss of $18.8 million, or 0.29 per share. As a result of results like that, GameStop stock had been drifting lower for years. It was around $56 a share in late 2013, but had fallen to under $4 by March of 2020. Of course, that was before the massive surge.

Is GameStop a brick and mortar company?

GameStop (NYSE: GME) is primarily a bricks-and-mortar video game retailer with more than 5,000 stores. But this business model is frowned upon by many in the investment community due to both long-term and short-term factors. Long-term, fewer and fewer gamers actually journey out to physical stores to purchase their games. Instead, they download them. Short-term, the COVID pandemic has kept and continues to keep shoppers away from all types of retail locations.

Is GameStop a dying company?

GameStop has suffer ed massive ly from these negative trends. And some have begun to consider it a dying business. In the third quarter of 2020 (the most recent reported), sales were about $1 billion, down 30% from the same quarter in 2019. The company had a net loss of $18.8 million, or 0.29 per share.

Did hedge funds bet against GameStop?

Several major hedge funds looked at GameStop’s books and decided that the company was doomed to fail eventually. So they bet against GameStop stock by shorting it. That means they borrowed the stock and sold it, hoping to buy it back later (and return it to the stock lender) after the stock price fell.

What hedge fund lost money on GameStop?

In fact, one hedge fund called Melvin Capital lost so much money on its GameStop short positions that it needed a capital infusion of nearly $3 billion to shore up its finances. And GameStop isn’t the only stock that has seen this kind of tug of war between retail investors and hedge funds lately. A few others include:

Here comes Cohen

To understand GameStop's current stock market run, you have to go back to August, when investor Ryan Cohen bought in to a roughly 10 percent ownership stake in the retailer. Cohen is best known as the founder of pet food superstore Chewy.com, which sold to PetSmart for $3.35 billion in 2017.

The big squeeze

Whether Cohen can turn GameStop around or not, the investor excitement around his new strategy presented a problem for the many investors who had shorted the stock (i.e. borrowed shares that they expected to go down in value).

The fundamentals

While Dopierala continues to be bullish on GameStop as a whole, even he admits that the company's transformation "may not happen as quickly as suggested by the current stock price." Analyst consensus suggests GameStop could settle at a price of around $10 a share based on the fundamental health of the business.

Is the Xbox series X/S good for GameStop?

The Xbox Series X/S and Playstation 5 are good news for GameStop. Gamers are snapping up the new consoles and will be for years to come — that’s the way the game console cycle works. In addition, they’re buying games and accessories for the new consoles.

Is GME stock overheated?

Beyond common sense, there are warning signs that GME stock is over-heated. Checking in with CNN Money, the eight financial analysts polled have GameStop rated as a hold. More tellingly, their median 12-month price target of $12.50 has nearly 70% downside.

Is GME stock in freefall?

GME stock had been in freefall since the end of 2015. By August of 2020, shares had lost over 90% of their value compared to those 2015 levels. Even 2015 was low compared to historic highs in 2008, when GME topped $60. However, as 2020 wound down, GameStop shares came to life.

How much short interest does GameStop have?

Today, GameStop has a 109% short interest ratio, meaning there are more shares sold short than exist. And GME’s open interest of nearly 850,000 options is seven times greater than Best Buy’s (NYSE: BBY) 115,000, even though GME is less than a tenth of the latter company’s size.

Does GameStop keep disc drives?

But don’t discount the short-term.

How much did GNC stock rise in 2012?

Pantries across the U.S. stocked up on the protein “miracle cure” for everything from weight loss to muscle building, and GNC’s stock rose from $15 in 2012 to almost $60 by the end of 2013. Back then, however, options trading was far more limited.

How much are GME options in 2022?

With implied volatility close to 180%, GME options are selling for fat margins; at-the-money 2022 calls cost almost $16.

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