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posted by Fnord666 on Sunday March 14 2021, @02:49PM   Printer-friendly
from the who-will-be-holding-shares-when-the-game-stops? dept.

GameStop shares rise, fall and rise again in roller-coaster day of trading:

GameStop shares spiked Wednesday, reaching $348 apiece, only to come crashing down to $172 each early in the afternoon, causing multiple halts in trading of the stock due to volatility. Stocks then moved back up and ended the day at $265[*], a 7% increase for the day.

The past two days were a buying frenzy for the video game retailer's stock since Monday, when it was $136. That surge coincided with a lift to the entire stock market after Saturday's passage of the COVID relief bill in the Senate, as well as with an announcement that the video game retailer is developing a new e-commerce strategy, with Chewy.com founder Ryan Cohen heading that effort.

Cohen, who made a large investment in GameStop last year, will lead a committee seeking to transform GameStop a "technology business," the company said in a press release Monday.

GameStop shares skyrocketed from less than $20 in early January to more than $480 at the end of January thanks to a massive push by traders on the Reddit forum r/WallStreetBets. The stock price has dropped dramatically since then.

Price quote on Yahoo!

Also at BBC

Previously:
The Complete Moron's Guide to GameStop's Stock Roller Coaster
Console Options Without Disc Drives Could be GameStop's Final Death Knell
Web Site thinkgeek.com Moving in with Parent Company GameStop
GameStop Heading Towards Possible Doom
GameStop Posts Massive Loss as Pre-Owned Game Sales Plummet
GameStop's Future in Question after Failing to Secure Buyout


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  • (Score: 4, Interesting) by Anonymous Coward on Sunday March 14 2021, @03:28PM (2 children)

    by Anonymous Coward on Sunday March 14 2021, @03:28PM (#1124031)

    There are still a ton of short sold shares. The short squeeze hasn't happened yet.

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  • (Score: 0) by Anonymous Coward on Sunday March 14 2021, @03:47PM

    by Anonymous Coward on Sunday March 14 2021, @03:47PM (#1124044)

    Diamond hands, my brothers.

  • (Score: 3, Interesting) by istartedi on Sunday March 14 2021, @06:39PM

    by istartedi (123) on Sunday March 14 2021, @06:39PM (#1124132) Journal

    It depends on where you're getting your data. Most short interest data is stale because it's not posted frequently enough. S3 has access to more timely data. The entities involved can be tight-fisted with data, because... well... they own the data so why not charge for it? It's one of the many ways that small investors can be disadvantaged, because the cost of data feeds would be a big percentage of a small acount vs. being negligible for a large account. S3 has been freely publishing daily short interest for GME and a few other stocks lately, but they are under no obligation to do so.

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