GameStop Rushed up And Down Finally Held the 7% Increase
After the baptism of the social media stock frenzy in January, GameStop, whose share price has soared by more than 1,600%, still retains a large number of devout followers. This wave also stimulated short-squeezing, forcing hedge funds such as Melvin Capital to make short covering.
But further squeezed fuel may gradually run out. According to S3 data, GameStop‘s empty order balance ratio is only about 20.5%, which is the lowest point in at least 3 years.
Market analysts have pointed out that because the new round of epidemic relief plan implemented by the Biden government will inject a large amount of funds into the market, it is expected to fill the silver bullets of retail investors, allowing them to push up the “meme stocks” on these social media forums.
In addition, GameStop bulls are also happy to see the company’s strategy of turning to e-commerce.
GameStop is expected to announce its earnings report on March 23.
Retail investors on WallStreetBets celebrated this wave of trends, and tried to hold on to each other not to sell. Some retail investors lamented that they sold too early. For example, Reddit user TheKingTodo was annoyed that he had sold all 39 GME shares at $120, saying, It won’t happen again.”
GameStop Rushed up And Down Finally Held the 7% Increase - /10