• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, June 13, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Markets

Is GameStop stock having a comeback?

by Rohit Yadav
July 21, 2021
in Markets, News, Tech, Trending
Reading Time: 2 mins read
0
GameStop
TwitterWhatsappLinkedin

What’s the fuss?

The shares of GameStop (GME) rose 10% to $191.18 on Tuesday. It was the highest closing price since July 9. According to Dow Jones Market Data, GameStop’s stock is still down 10.7% month to date in July.

You might also like

Majority of Canadians Want Lower Tariffs on Chinese EVs to Improve Affordability

InterGlobe Enterprises Set to Offload 4% IndiGo Stake via Block Deals

Ola’s Zero Commission Revolution: Empowering Drivers, Redefining Ride-Hailing

Highs and Lows

The bullishness is just about holding in the opening half-hour of trade on Wednesday. With a moderate start to the session, GME is just in the green. In recent trading, GameStop Corp. (GME) experienced a 2.63 percent rise, with the most recent price of $173.49. The stock’s current price is -64.08 percent lower than its 52-week high of $483.00, and 4501.86 percent higher than its 52-week low of $3.77.

Why is GameStop so volatile?

GameStop is a big meme stock, which means that its daily price fluctuations are frequently unexpected, due to variables such as social media buzz, options and momentum trading oddities, and short seller activity. Several analysts have withdrawn their coverage of GameStop, claiming that the company no longer trades on fundamentals.

GameStop
Source: Ars Technica

Each of the stocks has generated a lot of buzz on the internet. The most prominent is, of course, GameStop, which was probably the first company that traders on the WallStreetBets forum rallied behind early this year, igniting the current craze.

Why is GameStop seeing a surge?

The high performance was not due to any company-specific news. However, they’ve all been labelled as “meme stocks,” which have a devoted following among retail investors and are known for their high volatility when there’s good news, bad news, or no news at all.

Short-selling

Short-selling data provider S3 Partners managing director Ihor Dusaniwsky told Barron’s that for GameStop, he estimates around 7.9 million shares shorted, or 14 percent of shares available for trade, down by about a million shares in the past week. Short sellers lost $139.8 million on Tuesday, increasing their year-to-date losses to $6.32 billion, according to those figures.

Chairman Ryan Cohen uploaded a selfie of himself with chopsticks in his nose with the message “PG-13” late Monday night. For months, Reddit users have speculated wildly based on every emoji, GIF, and photo published on Twitter by the Chewy co-founder. You can check the replies for the confirmation.

PG-13 pic.twitter.com/B2hRaF1yFr

— Ryan Cohen (@ryancohen) July 20, 2021

What’s next?

It’s anyone’s guess what the meme stocks will do next. For months, Wall Street experts have predicted a crash, but meme stocks have held up, albeit with a lot of volatility. Companies will eventually have to justify their high values by putting their capital to work. Just not yet, it appears.

When it comes to meme stocks, especially the king of them all, GME, caution is still required. To confirm, the extremely quick reversal from Monday’s high of $179 must be broken, and GME must then trade above the 9-day moving average. The Moving Average Convergence Divergence (MACD) is remains negative, indicating that care is required.

Tags: GamestopGMEmeme stockRedditWallStreetBets
Tweet54SendShare15
Previous Post

As the discussion around Pegasus rages, the question remains as to what it means for India.

Next Post

Swiggy raises $1.25B in investments, now values at $5.5B

Rohit Yadav

Hi! I'm Rohit, If you like reading about markets, technology and business, you've come to the right place. Catch me: [email protected]

Recommended For You

Majority of Canadians Want Lower Tariffs on Chinese EVs to Improve Affordability

by Samir Gautam
June 13, 2025
0
Majority of Canadians Want Lower Tariffs on Chinese EVs to Improve Affordability

A growing number of Canadians are questioning the country’s current trade policy on electric vehicles, with a recent poll revealing that the majority prefer a more open market...

Read more

InterGlobe Enterprises Set to Offload 4% IndiGo Stake via Block Deals

by Ishaan Negi
June 13, 2025
0
InterGlobe Enterprises Set to Offload 4% IndiGo Stake via Block Deals

The parent company of low-cost airline behemoth IndiGo, InterGlobe Enterprises, is reportedly seeking to sell off up to 4% of the firm through block agreements, a move that...

Read more

Ola’s Zero Commission Revolution: Empowering Drivers, Redefining Ride-Hailing

by Ishaan Negi
June 13, 2025
0
MapMyIndia alleges data theft and unfair practices by Ola to develop Ola Maps

In India’s ever-bustling cities, cab drivers are the silent engines that keep people moving. For years, many of them have relied on platforms like Ola and Uber to...

Read more
Next Post
Swiggy raises $1.25B in investments, now values at $5.5B

Swiggy raises $1.25B in investments, now values at $5.5B

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?