{"id":200449,"date":"2021-03-11T16:23:01","date_gmt":"2021-03-11T13:23:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gamestop-stock-tumbles-after-wild-six-day-rally\/"},"modified":"2021-03-11T16:23:01","modified_gmt":"2021-03-11T13:23:01","slug":"gamestop-stock-tumbles-after-wild-six-day-rally","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gamestop-stock-tumbles-after-wild-six-day-rally\/","title":{"rendered":"#GameStop stock tumbles after wild six-day rally"},"content":{"rendered":"

“#Game<\/a>Stop stock tumbles after wild six-day rally<\/strong>”
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GameStop\u2019s six-day winning streak looked poised to end Thursday as Reddit<\/a>\u2019s favorite meme stock shook off some of its recent volatility.<\/p>\n

The video-game retailer\u2019s stock price moved like a roller coaster in early trading before settling into the red in the early afternoon.\u00a0<\/p>\n

The shares clawed back an early 12 percent slide to rise as much as 6.2 percent, but were recently trading down about 3.1 percent at $256.75 as of 1:48 p.m.<\/p>\n

That set GameStop up to wipe out some of the\u00a0some of the 7.3 percent gain it eked out\u00a0on Wednesday, when it settled at $265 \u2014 the highest closing price since Feb. 1 \u2014 after breaking above $300, crashing more than 40 percent and then recovering.<\/p>\n

Trading on GameStop was halted seven times over the course of the session before it managed to notch its second-highest closing price ever,\u00a0according to MarketWatch<\/a>.<\/p>\n

Despite Thursday\u2019s dip, GameStop shares have nearly doubled since a week ago as a fresh wave of excitement gripped Reddit\u2019s WallStreetBets forum, which pushed the stock as high as $483 in late January in a populist campaign against hedge funds that had bet it would fall.<\/p>\n

The latest surge is a sign that small investors have realized \u201cthey are no longer forced to play by the rules\u201d that Wall Street has long imposed on them, according to David Trainer, CEO of investment-research firm New Constructs.<\/p>\n

\u201cThis sort of represents an Arab Spring for the self-directed investor, where they now understand that they have been bullied and exploited for many, many years and they have decided to push back,\u201d Trainer told The Post, referring to the wave of uprisings that swept the Arab world a decade ago.<\/p>\n

It\u2019s unclear what sparked the recent volatility in GameStop shares. But it came amid a rally that picked up steam early this week after the company confirmed it had tapp<\/a>ed\u00a0Chewy.com founder Ryan Cohen\u00a0\u2014 whom some fans view as the company\u2019s likely savior \u2014 to spearhead its shift into e-commerce.<\/p>\n

Many Reddit traders have remained defiant during the shares\u2019 wild ride this week, with some even reveling in Wednesday\u2019s crazy price action.<\/p>\n

\u201cI want to genuinely hear how fun today was for you apes that are balls deep with me in [GameStop],\u201d a Redditor named chuqz wrote in a\u00a0Wednesday evening post<\/a>\u00a0that got 4,200 \u201cupvotes\u201d on the forum. \u201cI needed a rush like today. I had a blast.\u201d<\/p>\n

Thursday\u2019s trading seemed boring by comparison to some on the message board \u2014 but it didn\u2019t shake their dedication to the stock.<\/p>\n

\u201cIf I didn\u2019t sell out [of] fear when these f\u2013ks tanked the stock yesterday, what makes [them] think I will sell out of boredom ??\u201d immya123 wrote on a\u00a0Thursday comment thread<\/a>.<\/p>\n

If GameStop\u2019s latest bounce is anything like its unprecedented January surge, the stock could be in for a major crash. The Texas-based company\u2019s shares fell as low as $38.50 on Feb. 19, less than a month after the peak of the rally that turned Wall Street upside down and\u00a0sparked congressional hearings.<\/p>\n

The stock could face another test on March 23, when GameStop is slated to report financial results for the fourth quarter of its 2020 fiscal year, which included the holiday shopping season.<\/p>\n

Wall Street analysts are expecting GameStop\u2019s adjusted profits for the quarter to jump about 13 percent to roughly $1.43 per share on revenues of about $2.3 billion, according to Bloomberg data.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#GameStop stock tumbles after wild six-day rally” GameStop\u2019s six-day winning streak looked poised to end Thursday as Reddit\u2019s favorite meme stock shook off some of its recent volatility. The video-game retailer\u2019s stock price moved like a roller coaster in early trading before settling into the red in the early afternoon.\u00a0 The shares clawed back an…<\/p>\n","protected":false},"author":1,"featured_media":200450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/gamestop-73.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[97194,72128,5005,70359,70360],"class_list":["post-200449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-11-21","tag-gamestop","tag-reddit","tag-stocks","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/200449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=200449"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/200449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/200450"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=200449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=200449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=200449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}