GameStop sees crashing shares as Reddit rally eases

09.02.2021 - Evdokimov Roman
GameStop sees crashing shares as Reddit rally eases

Gamestop, a videogame retailer, saw a decline in its shares on Monday. The company lost momentum together with other social media-hyped stocks that saw a wild increase earlier in February. 

While the company recorded an upbeat performance during its early session, its shares still plunged 5.91% at $60. Shares of AMC Entertainment Holdings Inc and headphone maker Koss also declined, with both companies recording 9.5% and 4.9% losses respectively.

Considered as meme stocks, shares of Game Stop, AMC, and Koss greatly advanced over the past two weeks. This was mainly from amateur investors’ collective move of bidding up stocks that some U.S. funds had bet against.

The strong upswing has drawn the attention of regulators, but U.S. Treasury Secretary Janet Yellen believed that it was still early to conclude if new policies need to be implemented.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?