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GameStop stock tanked more than 18% Wednesday as a rally among meme names showed signs of fading. Shares of the video game retailer are coming off a two-day short squeeze.
The stock had been flat year to date ahead of Monday's rally but had risen about 60% in the past month. GameStop stock is now up over 180% over the last month, not including Tuesday's gains.
GameStop stock surged as much as 110% after 'Roaring Kitty,' who was credited with starting the 2021 meme stock frenzy, posted on X for the first time in three years.
At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share ($125 split-adjusted), nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities and cryptocurrencies also increased.
In January 2021, trading activity around a short squeeze resulted in a 1,500% increase in GameStop's share price over the course of two weeks, reaching an all-time intraday high of over US$500.00. As of January 29, 2021 [update] , on the New York Stock Exchange .
An intraday percentage drop is defined as the difference between the previous trading session's closing price and the intraday low of the following trading session. The closing percentage change denotes the ultimate percentage change recorded after the corresponding trading session's close.
Shares in digital media technology company Adobe (NASDAQ: ADBE) fell by 13.8% in December, according to data provided by S&P Global Market Intelligence. Adobe is a software company that offers ...
Here are the brokers offering 24-hour stock trading and what you need to watch for. ... That and thousands of other stocks could be available overnight but may not be. Uncertain prices: ...