CBC News: The National shows that GameStop’s stock took a dive Thursday after the online brokerage used for many of the trades that made it the hottest stock of the week put severe restrictions in place. Investment funds lost billions when amateur traders came together online to push up certain stock prices, which regulators are looking to examine.
GameStop is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, United States, a suburb of Dallas, and operates 5,509 retail stores throughout the United States, Canada, Australia, New Zealand, and Europe as of February 1, 2020. The company's retail stores primarily operate under the GameStop, EB Games, ThinkGeek, and Micromania-Zing brands.
In addition to retail stores, GameStop also owns Game Informer, a video game magazine.
(Not to be confused with GameSpot.)
The price of GameStop Corp. Stock (NYSE: GME) is now 52.40 USD (Feb. 12, 2021).
ReplyDeleteGameStop stock sure extended its drop. $30 Billion in Value (From Peak) was erased.
The company has now shed about 90% of its value from an intraday record of $483 on Jan. 28 (when it briefly became the largest company in the Russell 2000 Index).
However, the stock is still up more than 150% this year despite certain recent losses.