Phew! What a week it has been. I’m sure you must have heard about shares of GameStop, trading at sky-high prices since last week, driven by a Reddit community called r/WallStreetBets. After sitting around just $18 at the start of January, a loss-making company, GameStop’s stock doubled in four days. Isn’t it raving? This is not enough. It kept shooting higher and reached $347.51 (more than double) on last Wednesday. On Thursday, it gave back a chunk of those gains and finished the day at $193.60, down 44%. But it’s still up an amazing 928% through the first few weeks of 2021.
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Phew! What a week it has been. I’m sure you must have heard about shares of GameStop, trading at sky-high prices since last week, driven by a Reddit community called r/WallStreetBets. After sitting around just $18 at the start of January, a loss-making company, GameStop’s stock doubled in four days. Isn’t it raving? This is not enough. It kept shooting higher and reached $347.51 (more than double) on last Wednesday. On Thursday, it gave back a chunk of those gains and finished the day at $193.60, down 44%. But it’s still up an amazing 928% through the first few weeks of 2021.