GameStop’s stock was on the rise again, until it wasn’t
GameStop stock (GME) soared in value on Wednesday, peaking at $348.50 per share. Then, in an event that's definitely not cause for concern, minutes later it lost fully half its value by plummeting to $172, Bloomberg reports. Yes, stonks" are back, and GameStop is once again in the crosshairs of online amateur investors.
Wednesday's drama ultimately ended with the price settling back down to $265 per share, but it's hard to not feel deja vu. It seems like it was only yesterday when everyone was watching in a mixture of shock, amusement, and general concern as GME crested $483 per share. The rise and fall doesn't quite compare, but the losses for anyone who sold during Wednesday's dip in price are likely huge.
Wow! What a chart Never...