It hasn’t been a good day for WallStreetBets, as GameStop’s stock has plummeted today. AMC, the community’s other bet, dropped as well. But unlike previous dips, the stocks don’t appear to be rallying. Prices stayed low for the entire trading day, something that hasn’t happened since WallStreetBets became a household name one week ago.
When the market closed today, the price of GameStop was $90 even, an 81 percent drop from GameStop’s peak at $483, and a 58 percent drop from its price of $218 on Friday evening. AMC is down too, closing today at $7.82, which is a 61 percent drop from its peak at $19.88.
It’s hard to believe that in August of last year, GameStop was trading at $4.50. Between then and last week, some investors bet that the…
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Author: Mitchell Clark