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The GameStop frenzy is losing steam. Wall Street still has issues
The stampede in the gaming retailerâs shares exposed weaknesses in the stock market that hurt investors.
By Larry Edelman Globe Columnist,Updated February 2, 2021, 8:58 p.m.
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It looks like GameStop wonât reach the moon.
âTo the moon,â you may know, was the rallying cry of DIY traders as they pushed the stock of the video game retailer from below $20 at the start of the year to more than $480 on Thursday â and said it would climb even higher.
But since hitting that zenith, GameStop has fallen in three of the past four trading sessions, closing at $90 on Tuesday. Thatâs still a remarkable gain, but will it last? Who knows.