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GameStop Tumbles 20% After Last Week's Short Squeeze

Published 01/02/2021, 15:08
Updated 01/02/2021, 15:16
© Reuters

By Liz Moyer

Investing.com -- GameStop Corp (NYSE:GME) tumbled 20% on Monday as the short squeeze appears to have run out of momentum.

Shares of the video game retailer spiked more than 400% last week as retail traders, many using the Robinhood mobile app and goading each other on a Reddit forum, pushed the shares higher to counter bearish bets by some hedge funds.

Trading continued to be extremely volatile. Before the market open, GameStop was up 18%.

Robinhood and other trading sites have restrictions on trading in GameStop and other highly volatile stocks, including AMC Entertainment Holdings Inc (NYSE:AMC), BlackBerry Ltd (NYSE:BB) and Express Inc (NYSE:EXPR).

 

Latest comments

Reddit are not trying to short silver! Its just spam bots trying to switch people from #GME to easy the short, silver is a multi billion pound commodity, it would be impossible, why would they even? The whole point of thr reddit movement was about stopping hedge funds destroying already struggling compaines! Its about principles not profits
#yolo#retard 🚀
Fake news media could only get a tiny 25% reduction after a full front attack to get people to sell! Guess what tomorrow we buy more GME! And we will hold forever!
market....what market ??!
market....what market ??!
Etoro adding stop losses to already open trades without people knowing and then closing rhe positions, crazy manipulation going on
“The stock appears to have run out of momentum” because people can only buy 1 stock of GME how is it possible for it to gain any momentum???
Hold
Hold, while you sell. Good idea.
HODL. Hedgies are sweating bit time lol
What do you expect all the main 8 stocks of RH stopping folk from buying going down. Just helping the Hedgies and the crew doing their shorting.
What do you expect all the main 8 stocks of RH stopping folk from buying going down. Just helping the Hedgies and the crew doing their shorting. It's all rigged
Hold hold hold hold hold, it's a ladder attack and the short squeeze hasn't happened yet.
hold hold hold hold hold, it's a ladder attack and the short squeeze hasn't happened yet
Ask the people who's accounts have been setup with an automatic SL that can't be unticked and not allowing us to buy.
Ask the people who's accounts have been setup with an automatic SL that can't be unticked and not allowing us to buy.
First of all, before Market opened, was already -2%. Second, the Short Float is still high and the Hedge funds couldn't get their money yet. It's miserable that Investing.com publish these fake news.
Hold the line guys, may be down 20% but they are still losing money so squeeze them hard
I really hope it keeps dipping like this so I can buy more, YOLO
Hold the line guys, may be down 20% but they are still losing money so squeeze them hard
Hold
and buy
and buy
You guys are begging it to go down, must have big bags invested in that short! First trying to get people to switch to silver now this! 20% is nothing! We gonna just but more in the dip!
agree 110%
Disgusting, getting paid off by hedgies to write *****like this
Fake news, still shorted by +110%...
No squeeze yet
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