Why did the price of GameStop stocks jump so suddenly?
Mar 15, 2022 · GameStop (NYSE: GME) stock is on the move Tuesday and we’re diving into what has investors excited about the retail company’s shares today! The news that most likely has GME stock on the rise ...
How high could GameStop go?
Jan 20, 2022 · What happened Shares of GameStop ( GME -2.54% ) were bouncing higher Thursday in noontime trading, rising 3.5% following seven consecutive days of declines, especially following the announcement by...
How high will GameStop go?
Nov 01, 2021 · What happened. Shares of GameStop (NYSE: GME) were running 5.6% higher heading into noontime trading Monday despite the announcement the video game retailer's chief operating officer (COO) had ...
Why is GameStop stock going up?
Jan 28, 2021 · That’s an increase of about 1,900%. Such a meteoric rise is unheard of in the stock market. Sure, Tesla (Nasdaq: TSLA) is up 643% over the past year, which itself is a moonshot for any stock and a windfall for early investors in the electric vehicle maker. But the rise of GameStop stock over less than a month dwarfs Tesla’s performance.
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:
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.
Who owns GameStop stock?
Despite GameStop’s bleak outlook, last year a well-known investor named Ryan Cohen increased his holdings of GameStop stock to more than 10% of the company, with hopes of transforming the mainly physical retailer into more of an online player.
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.
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.
GameStop Will Rise Again
Back in January, a horde of day traders whipped themselves into a frenzy of enthusiasm on WallStreetBets and drove GME to $350 a share. As a result, a few hedge fund managers lost their shirts, and a cash crunch stymied commission-free trading platform Robinhood, which temporarily suspended buying of the meme stocks as it boosted its cash reserves.
Do the Meme Stock Gains Make Sense?
Just because there’s a positive story being told about a stock doesn’t necessarily mean that it makes sense to buy the stock.
What You Should Do?
One reason these speculative assets continue to draw headlines is that Wall Street celebrities with huge followings often shine attention on them.
