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To the moon or to a lawyer, GameStop investors cope with stock s rollercoaster Reuters 2/5/2021
NEW YORK, Feb 5 (Reuters) - Eric Diaz, an operations manager in Tampa, Florida, remains committed to his GameStop shares even after their steep retreat from highs they hit last week. It got personal, he said.
Like many other people, Diaz first invested $3,000 after reading about the video game retailer s stock on the popular Reddit forum WallStreetBets. The so-called Reddit rally to squeeze shortsellers rocketed GameStop Corp shares from below $18 a share in early January to as high as $483 last week. Diaz sold some to take profits of $1,500 and hold on to the rest, 10 shares.
Users of the message board Reddit s WallStreetBets forum are clinging to desperate hopes of a rebound in GameStop shares, after the stock plunged this week and many small traders lost thousands of dollars.
Shares of GameStop, which soared 1,800 percent in January in a speculative bubble fueled by small investors, fell nearly 84 percent in the first four days of this month as the frenzy faded. I am not f ing selling, read one post on WallStreetBets on Friday, when the forum users urged each other to hold on to the battered stock and predicted an imminent bounce.
The stock did rally nearly 40 percent in early trading on Friday, trading at $73, but still remained far below its peak - set at $483 last week..
By Syndicated Content
By Krystal Hu
NEW YORK (Reuters) - Eric Diaz, an operations manager in Tampa, Florida, remains committed to his GameStop shares even after their steep retreat from highs they hit last week. It got personal, he said.
Like many other people, Diaz first invested $3,000 after reading about the video game retailer s stock on the popular Reddit forum WallStreetBets. The so-called Reddit rally to squeeze shortsellers rocketed GameStop Corp shares from below $18 a share in early January to as high as $483 last week. Diaz sold some to take profits of $1,500 and hold on to the rest, 10 shares.
After watching the shares plunge on Thursday to close at $53.5, Diaz said he plans to buy more if the price keeps dropping.
To the moon or to a lawyer, GameStop investors cope with stock s roller coaster
Feb 5, 2021 11:40 PM PHT
Reuters
Eric Diaz, an operations manager in Tampa, Florida, remains committed to his GameStop shares even after their steep retreat from highs they hit last week. It got personal, he said.
Like many other people, Diaz first invested $3,000 after reading about the video game retailer s stock on the popular Reddit forum WallStreetBets. The so-called Reddit rally to squeeze short sellers rocketed GameStop Corporation shares from below $18 a share in early January to as high as $483 last week. Diaz sold some to take profits of $1,500 and hold on to the rest, 10 shares.