GameStop Jumps Again - Up 118%
GameStop shares recently surged by 118% in two days, coinciding with the return of Keith Gill, known as "Roaring Kitty," who ignited interest with a cryptic social media post.
This event underscores the ongoing challenge that meme stocks like GameStop pose to traditional financial analysis.
Historically, GameStop experienced a massive spike in January 2021, with shares increasing over 2600% due to coordinated buying by retail investors on platforms like Robinhood and social media forums.
Although the stock quickly lost nearly 90% of its value from its peak, showcasing the high risks of such volatile investments, it has shown signs of recovery.
After a period of stagnation, GameStop's stock rose sharply by 75% on Monday and saw early gains of 113% on Tuesday before settling to a 60% increase by the day’s end due to selling pressure.
With the stock's history of dramatic fluctuations, there is potential for surpassing its all-time high of $120, but significant volatility remains, with the $50 mark being a critical resistance level to watch.
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This event underscores the ongoing challenge that meme stocks like GameStop pose to traditional financial analysis.
Historically, GameStop experienced a massive spike in January 2021, with shares increasing over 2600% due to coordinated buying by retail investors on platforms like Robinhood and social media forums.
Although the stock quickly lost nearly 90% of its value from its peak, showcasing the high risks of such volatile investments, it has shown signs of recovery.
After a period of stagnation, GameStop's stock rose sharply by 75% on Monday and saw early gains of 113% on Tuesday before settling to a 60% increase by the day’s end due to selling pressure.
With the stock's history of dramatic fluctuations, there is potential for surpassing its all-time high of $120, but significant volatility remains, with the $50 mark being a critical resistance level to watch.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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