That’s where Reddit comes in… The Reddit Coup I talked a lot about GME as a stay-at-home play for a good portion of 2020.īut that crazy spike was too crazy to account for increased sales of “Call of Duty.” Listen, I know that video games have been trending recently due to fewer entertainment options available in recent months.

(NYSE: GME) year-to-date chart (Source: StocksToTrade) It started spiking … From the $40s … up to $100 … and all the way up to a 52-week high of $483. Then, in early 2021, something crazy started happening. By the end of 2020, it was trading just below $20.Through the summer of 2020, GME traded mostly between $4 and $7.On Janu(a year ago today), GME was trading in the low $4s.To demonstrate, here are some interesting numbers: But for a brief, glimmering moment, it was the king of the stock market. The SteadyTrade Team, my comprehensive training program where I offer twice-daily webinars and an ongoing stream of stock market knowledge bombs…īy the time you’re reading this, GameStop could be out of business for all I know.The SteadyTrade podcast, where we discuss all things trading.Daily premarket sessions where I talk about potential hot plays.A YouTube channel featuring a ton of videos about timely stock market topics.StocksToTrade has a ton of resources available to help traders get up to speed: Those who take the time to educate themselves about how the stock market works will be best equipped to navigate these choppy waters and take advantage of the many opportunities out there. This could be the dawn of a whole new age for traders. I talked about it in a recent Pre-Market Prep session (a no-cost resource that you can check out every weekday at 8:30 a.m. Me, I’ve been calling it ‘the democratization of the stock market.’ In recent years, something has been brewing in the stock market.

Access to trading is easier now than ever.Īs my social media followers and SteadyTrade Team members know, I’ve been talking about this for ages. ‘Amateur’ traders want to reclaim power in the market. 3 The GameStop-Reddit Experience: Why Now?.1.1 The GameStop Squeeze: A Game-Changer.The buying spree was only further fueled by the recent installation of Chewy co-founder Ryan Cohen as a board member of the company along with former Chewy CMO Alan Attal and former Vacasa CFO Jim Grube, with Cohen's appointment in particular inspiring confidence in the company's stock despite another year of disappointing holiday sales for the company.Įarlier this week, one short seller Citron Research attempted to discourage those betting high on the stock by saying it would livestream a call explaining why the stock would soon fall back down to $20 per share, but opted to record and publish the video instead due to 'too many people hacking Citron Twitter' and a wave of angry social media replies. Much of the sudden interest in the stock is due to an ongoing campaign from users congregating on the subreddit WallStreetBets encouraged by some YouTube and TikTok investment personalities, with numerous users noticing that the company had a large number of short shares (71.2 million shares compared to the 69.75 million the company had outstanding in December 2020 per Yahoo Finance) and buying up large amounts of stock to take advantage. GameStop's stock has been on a dramatic rise over the last week, from nearly $20 per share on January 12 to double that in two days, and continuing to rise since to today's record high.Īccording to Bloomberg, today's surge briefly made GameStop the most actively-traded US stock, causing trading to be halted multiple times throughout the day due to high volatility, though it has since resumed. This was a new record for the company, beating its previous high price set of $63.30 per share set in 2007. GameStop stock has surged to a new record high share price today, reaching $76.76 per share around mid-day from its opening price of $42.59 per share in a near-80% single-day surge.

Gamestop squeeze