What happened to GameStop?

In Uncategorized on 15/02/2021 at 4:16 am

It closed last Friday at US$52.40.

What a ride. The shares started the year at US$18 and hit US$483 on January 28.

GameStop: What goes up, comes thumbling down

  1. hedge funds over extended themselves short selling the share, making themselves vulnerable to even a small rise, and were forced to buy to cover their bets, making it rise more

  2. soon the buyers got over extended & could not maintain the high price

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