breaking news

GameStop plummets nearly 20% as Retail-led rise slows

Shares in video game firm GameStop fell nearly 20% on Tuesday to lows since it began a rally promoted on social media and driven by retail investors that hit Wall Street.

Investors following the popular Reddit forum WallStreetBets helped propel GameStop shares to a closing high of $ 347.51 on January 27 as part of a strategy to hurt hedge funds that had shorted the market. retailer. Since then, GameStop has plunged 85% to about $ 40 a share.

The average price target for analysts who follow the company is $ 13.44, according to Refinitiv data.

Ben Oakley
Ben Oakley is the guy you can really trust when it comes to Mainstream News. Whether it is something happening at the Wall Street of New York City or inside the White House in Washington, D.C., no one can cover mainstream news like Ben. Get a daily dose of Trustworthy News by Ben Oakley, only at Globe Live Media.