The share price of GameStop Corp. (NYSE: GME at https://www.webull.com/quote/nyse-gme) dropped by 2.4% yesterday. During the long Easter weekend, the ASX was shut down, but US stock trading was still available. The day was closed for US$186.95 per share by GameStop. This offers a US$13.1million market cap to the Video Game dealer.
Rise in the meteor?
As you already remember, the so-called Reddit Army thanks GameStop(NYSE: GME) for its tremendous shares. This is the unconnected community of institutional investors to align their investing strategies.
Not that each recruiting Reddit army has made those profits. Anyone who purchased GameStop shares at a strong 27 January now has a 46% investment loss. However, it may just be the start of a longer, tougher GameStop slide and another meme inventory.
Price of GameStop
The worldwide pandemic is universally known to have helped GameStop and other so-called meme stocks. The virus has shown that people have been forced to stay at home. This gave them more time, as many found their bank balances overflowing with government stimulus checks as though they couldn’t spend it on their usual paths.
With the start of vaccination from the coronavirus and reopening of the country, this process will escalate as people move away from their trading applications and into their hobbies. In the past two months, after an increase of almost 150 percent, an index that covers 37 of the most common meme stocks, 37 of the 50 barred from trade by Robinhood Markets at the height of the frenzy, is basically untouched.
The effect on the retail trade of stimulus checks decreases. Many Americans are looking to attend sporting activities, fly around the world, visit families and friends, and refurbish clothing before going to restaurants, pubs, and the workplace. Although Moya’s prediction could be misleading for meme stocks such as GameStop(NYSE: GME) at the share price, it could open up new opportunities in areas such as travel and retail ASX shares.
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In the last two months, after rising almost 150 percent in January, an indication that tracks 37 of the most common stocks of memes – 37 out of 50, which prohibited customers from trading in the height of the hysteria is basically unchanged. There are many other stocks like NASDAQ googl which you can check at https://www.webull.com/quote/nasdaq-googl.