Is the GameStop dream dead? Shares plummet nearly 75% in two days

[Yoni Heisler]

• GameStop shares are down more than 70% over the last two days.
• As hedge funds and short-sellers attempt to close their positions, GameStop shares have continued to fall.
• Netflix is already planning a movie about how Redditors managed to almost bankrupt a multi-billion dollar hedge fund.

The GameStop saga, which has seen an army of Redditors take on well-established hedge funds, might finally be starting to circle the drain. After closing at $347/share last Wednesday, GameStop shares are now trading in the $93 range. At its peak last Thursday, GameStop shares were trading at $482.

According to financial observers, the steep drop-off was inevitable once hedge funds with short positions on GameStop applied pressure in an attempt to close their positions.

Today's Top Deal





Purell is still so hard to find in stores - but there are deep discounts at Amazon!


Price: $51.90 ($0.54/Fl Oz)
You Save: $23.70 (31%)
Buy Now

Continue reading...

Today's Top Deals

1. The crazy camera that lets your phone see anywhere is $29 at Amazon, this week only
2. Amazon has Purell surface sanitizer spray in stock – and it’s somehow 21% off
3. Amazon has Kimberly-Clark NIOSH N95 masks for $1.16 each – and anyone can buy them

Trending Right Now:

1. New research shows death isn’t ‘like flipping a switch’
2. This is Dr. Fauci’s most important coronavirus warning right now
3. The GOP wants to give out $1,000 stimulus checks – here’s who qualifies

Is the GameStop dream dead? Shares plummet nearly 75% in two days originally appeared on BGR.com on Tue, 2 Feb 2021 at 15:13:21 EDT. Please see our terms for use of feeds.

Via BRG - Boy Genius Report