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GameStop Roller-Coaster Rages On With Retail Fatigue Creeping In
Posted
March 11, 2021
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1,106
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March 11, 2021
1,106
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6:14Now PlayingGameStop Corp.’s week-long surge showed signs of fatigue Thursday morning as retail investors battled to keep shares near a six-week high.
The video-game retailer slumped as much as 12% to $232.60 Thursday morning as the retail favorite whiplashed investors with its dizzying volatility. Despite Thursday’s stumble, the stock remains up nearly 150% this month compared to a 3% rise for the S&P 500.
The “rapid rise up in shares is unwarranted, less about future prospects, and more of a statement about social & economic inequality,” wrote CFRA Research analyst Camilla Yanushevsky, who reiterated her sell rating. “In our view, we’re witnessing a ‘Reoccupy GME’ movement, following Feb.’s splintering off into silver, dogecoin and other financial instruments” by retail investors, she added.
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