The GameStop surge is making headlines because it’s being driven by retail investors — individuals who buy and sell stocks for their own gains, as opposed to professional investors working on Wall Street — on the subreddit r/WallStreetBets (WSB), a community 2.9 million-strong that refers to members as “degenerates” and idolizes Elon Musk.
Why did the price of GameStop stocks jump so suddenly?
22 hours ago · That news sent meme stocks generally rising, but GameStop rocketed higher, which could be why it decided to use the time to announce a share split. Before it does that, though, it wants to vastly ...
Why is GameStop stock going up?
Mar 04, 2022 · There would always be a factor behind the stock’s growth or the stock’s sinking, and short-selling was the factory that immediately increased the price of the game stock. Of course, some people will short-selling to earn a profit, but sometimes short-selling becomes the reason for the loss, and it is also in the case of GameStop shares.
How high did GameStop go?
Apr 11, 2022 · According to a Form 8-K filing, on March 31, GameStop disclosed its plan to request stockholder approval at a future annual shareholder meeting “for an increase in the number of authorized shares...
How much did GME rise?
Jan 28, 2021 · When the group of short sellers try to cover their positions at the same time as the share price climbs higher and higher, it creates an excess demand for GameStop shares in a low supply environment. Thus, resulting in a rapid increase in the share price of GameStop.
An army of individual traders is battling short sellers -- with the help of Elon Musk and Chamath Palihapitiya
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What happened
Shares of GameStop ( NYSE:GME) extended their torrid recent gains on Tuesday. By the close of trading, the video game company's stock price was up a stunning 92.6%.
So what
GameStop's shares are now up more than 1,000% since the beginning of the year. Analysts say the stock's staggering ascent is due largely to a short squeeze, driven by a slew of individual investors who are coordinating their buying efforts on sites such as Reddit and Twitter ( NYSE:TWTR) .
Now what
As of 6:20 p.m. EST, GameStop's shares are up an additional 40% in after-hours trading. The sharp upward move followed a tweet by Tesla CEO Musk that linked to a popular Reddit message board, which many GameStop bulls have used to promote the stock.
How much is GameStop stock worth in 2021?
And finally ending off the session with a 18% gain from the previous trading day. There was a total of US$16.7 billion worth of GameStop shares that were traded on a single day.
What is a gametop?
You may not know, GameStop Corp is a Fortune 500 company. It is a video game retailer, operating across 4 key geographical locations – United States, Canada, Australia and Europe.
How much will ecommerce sales increase in 2020?
For the first 9 months of 2020, e-commerce contributed 25% of total sales, up from a mid-single digit percentage historically. There was also a 257% increase in e-commerce sales, in Q3 2020, fueled by elevated omni-channel capabilities.
What does shorting a stock mean?
So just for your understanding, shorting is equivalent to selling the shares that you don’t own. Meaning investors are borrowing shares and selling them, hoping to repurchase the stock at a lower price. So that they can profit from the price decline eventually if it does happen.
