A state regulator has since called for GameStop shares to be suspended for 30 days to allow them to “cool off”. Don’t get scared and sell it in fear, because eventually they have to let these companies back on the trading market and they’ll be available.”Ī fall in broader US markets has been attributed to hedge funds selling their positions to pay for their losses, and the main Wall Street indexes lost more than 2 per cent on Wednesday alone. Ja Rule also echoed the comments he made in his initial tweet in his interview: “Hold the line. Is this the beginning of a major crash in GameStop Stock Is thi. ![]() I think this is going to drive people more toward decentralized markets, and bitcoin will be at the forefront of that.” GameStop GME Stock has been on a MONSTER run the last week, but today the stock crashed 30. questions are growing about whether the rampage has crossed a line into stock manipulation. “We’re getting to see, in plain sight, how broken this system really is and how it’s leaned toward one particular group of people to get wealthy and others to not. When it comes to GameStop, not everything is as it appears. While it’s too early to say whether the meme-stock momentum is making a comeback, the short-term volatility is to many a nice trip down memory lane. Because a short seller has to buy more shares if it decides to cut its losses (to pay back its. The videogame retailer, whose stock sparked a trading revolution, had been hard at work to swing itself back to profitability. Ja Rule’s hold the line policy has more logic behind it in these unprecedented circumstances. GameStop logo (Picture: Smith Collection/Gado/Getty Images) As Reddit users go head-to-head with Wall Street investors over GameStop and AMC stock, small investors are sharing jokes and memes to encourage each other to 'hold the line' until the stock. GameStop notched 2.23bn in sales for the quarter ended Jan. So I was very upset this morning to see that,” Atkins explained.Īsked how he thinks the situation will end up, the rapper said that he predicts “a victory for bitcoin”. Meanwhile, Wedbush analyst Michael Pachter believes that “GameStop is well-positioned to be a primary beneficiary of the new console launches, and we remain quite optimistic that it will return to profitability by FY:21.“If you throw in the fact that the place you’re trading shuts off trading for the stock and you can only sell… that makes people very scared and now people sell, sell, sell, and those guys get very rich off the stock and the little guys are left holding the bag. GameStop has had a wild week and the story’s not over yet. ( See GME stock analysis on TipRanks).įollowing the recent rally, the average price target of $10.72 suggests shares are poised to pull back 84% over the coming year. ![]() Out of the 6 analysts covering GME, 3 rate it as Hold, and 2 say Sell, and 1 analyst says Buy. GameStop shares have spiked a whopping 1,513% over the past six months, while analysts have a Hold consensus on the stock. We are investors who put safety and family first, and when we believe this has been compromised, it is our duty to walk away from a stock,” Left added. “This is not just name-calling and hacking but includes serious crimes such as harassment of minor children. “We will no longer be commenting on GameStop, not because we don’t believe in our investment thesis, but rather the angry mob who owns this stock has spent the past 48 hours committing multiple crimes that I will be turning over to the FBI, SEC and other governmental agencies.” GameStops stocks have soared as Reddit users disrupted investors from short-selling the stock. “What Citron has experienced in the past 48 hours is nothing short of shameful and a sad commentary on the state of the investment community,” Citron’s Andrew Left wrote in a letter posted on Twitter. What are the working hours for Customer Support All the website says is: 'Our Guest Care Representatives are ready to help you Give us a call at 1-80' 5 Related Topics GameStop Public company Business Business, Economics, and Finance 20 comments Best Add a Comment Gsslanon 6 yr.
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